NYSE-listed precious metals miner Coeur has temporarily suspended operating activities at its Silvertip zinc/lead/silver mine, in British Columbia, Canada, as the mine struggles to generate positive cash flow amid deteriorating zinc and lead markets.
Silvertip, which represents about 6% of Coeur’s revenue, has been focused on stabilising mill performance and despite showing signs of improvement, prevailing market conditions remain headwinds for the operation.
While mining and processing activities are paused, the miner would evaluate and pursue a repositioning of Silvertip, CEO Mitchell Krebs said this week.