The Coeur d'Alene Mines Corporation is a major silver producer which explores, develops, and operates silver and gold mining properties. The metals offered to end users are utilized in various industries such as the production of jewellery, silverware, and photographic films. The Company produces close to 15 million ounces of silver and 0.11 million ounces of gold. The silver reserves stand at 75 million ounces and the gold reserve is approximately 4.5 million ounces. The 2008 income stands at $1.33 million. The Coeur d'Alene Mines shares are listed under the symbol CDE at the NYSE and under CDM at the TSX. The company is a mid-tier gold producer.
The corporation was established in the 1920s, and its production levels grew by 30 percent in 1933. Coeur d'Alene Mines merged with the Silver Standard Mining Company and the Rainbow Mining and Milling in the 1940s. In 1979, the corporation joined the Hecla Mining Company, the Silver Dollar Mining Company, and the Sunshine Mining Company in a joint venture to reopen the Silver Summit Mine. The first public offering of the company`s shares raised $18 million in 1983. Subsequently, Coeur d'Alene Mines purchased the operating lease of the largest silver mine in the USA, the Rochester Mine. The merger with Royal Apex Silver gave Coeur d'Alene ownership rights over the Rochester Mine.
Currently, the company develops six mining sites. The Guadalupe gold and silver deposit at Palmarejo, Mexico holds 43 million ounces of silver and 0.53 million ounces of gold reserves. Since 1986, the Rochester Mine has been producing 110 million ounces of silver and 1 million ounces of gold. The Bolivian San Bartolom mining site is designed to deliver 9 million ounces of silver. The proven and probable reserves stand at 135 million ounces. Contained in a silver bearing gravel, the material is directly transported to the processing facilities. The Argentinean Martha Mine delivers 2.7 million ounces of silver and 3.313 ounces of gold. The Broken Hill Mine in Australia produces about 1.4 million ounces of silver. The mine has delivered about 500 million ounces since 1885. Finally, the Australian Endeavour mine is expected to produce 0.9 million ounces of silver per year.