Tuesday, 27th March 2007 (2069 views)

The chairman of the Coeur D'Alene Mines Corporation has spoken of the "positive economic activity" which will be provided to a new project at the group's Martha Mine in Santa Cruz, Argentina.

Dennis E Wheeler's comments follow the announcement that Coeur will be constructing a $13.9 million (£7.1 million) flotation mill at the Martha Mill.

The development follows a number of projects having been carried out by the group in 2006, with Coeur having acquired four silver-gold exploration properties in 2006.

Mr Wheeler said: "Not only does the mill create value for the company, but it will provide new jobs and generate positive economic activity in the region, where mining continues to be of growing importance.

"In addition, we are particularly pleased and grateful to have the support of the provincial government and federal mining authorities as we begin to move forward with this project," he added.

Coeur, which acquired the Martha Mine in 2002, produced 3,400 ounces of gold last year.

 

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