Silver Valley Resources, a joint venture between Coeur d’Alene Mines (NYSE) and Asarco (NYSE), will reopen the Coeur and Galena silver mines near Wallace, Idaho.
The former closed in 1991 as a result of low silver prices, whereas the latter suffered a similar fate the following year.
Silver Valley began development programs at each mine in 1995, which resulted in a 20% increase in reserves, to 1.6 million tons.
About 100 employees will be recalled over the next three months, with full-scale mining at the Coeur mine slated to begin May 1. Production at Galena will follow.
Be the first to comment on "Coeur, Galena mines to reopen"