Santacruz Silver Mining reports fatality at Tres Amigos mine in Bolivia
Tres Amigos mine, a part of the Caballo Blanco Group of mines, has resumed operations after it was shut down following the incident.
Alexco Resource Corp. (TSX:AXR) posted a banner year in silver production and sales, as the Vancouver-based company made the successful transition from mine developer to producer.
With production starting on January 1st at its Bellekeno silver-lead zinc underground mine in Canada’s Yukon Territory, Alexco managed in the first six months to produce 5,059 tonnes of lead-silver concentrate and 2,788 tonnes of zinc concentrate, leading to sales of 7,956 tonnes of concentrate and revenues of $38.269 million.
Net income for the year (ended June 30th) totalled $3.5 million compared to a $5.2 million loss during the same period in 2009-10. Alexco notched a $15.8 million gross profit for the year, a 9-fold increase from the previous year.
Alexco’s cost of production during the first six months was $7.57 per ounce of silver; the company realized an average US$37.45 per ounce of silver, $1.16 per pound of lead and $1.02 per pound of zinc.
President and CEO Clynt Nauman said the operation in the second quarter “continued to make steady progress on all fronts including mill throughput, ore tonnes mined, improved recoveries and increased overall metal production. These improvements are reflected in our financial performance with increased cash from operations and a greater than 25% reduction in silver production cost to $6.30 per ounce of silver net of by-product credits. With our steadily increasing silver production, an expanding resource base and additional mine development in the district, Alexco is well positioned to take advantage of the continued buoyancy in the silver markets.”
Alexco closed at $8.45 on Thursday with a market capitalization of $509 million.
Image of underground mining operations at the Bellekeno mine, by Alexco Resource Corp.
