Rio Tinto names Shell’s Katie Jackson as new copper chief
Jackson, who is the current president of National Grid Ventures, an energy group, joins Rio Tinto on September 1.
Coeur d’Alene Mines Corp. (TSX:CDM) broke production and sales records in 2011.
The Idaho-based silver and gold producer, with mines in Bolivia, Mexico Alaska, Nevada, Argentina and Australia, sold $1 billion worth of metal last year, nearly doubling sales in 2010. The company’s operating cash flow more than doubled, increasing 147% to a record $454.4 million; Coeur d’Alene made a profit of $93.5 million last year compared to a net loss of $91.3 million in 2010.
Gold production hit a record 220,382 ounces, a 40% increase, while the production of silver rose 14% to top 19.1 million ounces.
“2011 was a transformational year for the company. It marked the first full year that all three of our newer mines were in production together, ” said Coeur d’Alene President and CEO Mitchell J. Krebs. “We aggressively paid down nearly $50 million of debt, invested $120 million in capital expenditures intended to benefit shareholders over the long-term, invested $25 million in five silver exploration and development companies, and funded a robust $26 million exploration program.”
Coeur d’Alene is forecasting to produce 18.5-20 million ounces of silver this year and 210-230,000 ounces of gold.
The company’s stock is enjoying a nice ride in 2012, rising from $24.09 at the end of December to $29.42 today, a 22% gain.
