Overview La Coipa is an open pit gold and silver mine, located in northern Chile. The mine employs approximately 458 people.
Placer Dome�s share (50%) of proven and probable mineral reserves as of December 31, 2004 is estimated at 506,000 ounces of gold and 32,480,000 ounces of silver. For reserve and resource details and qualified persons, please see tables and notes.
View mineral reserves and mineral resources tables and notes at December 31, 2004
2005 Outlook In 2005, Placer Dome's share of scheduled production is estimated at 82,000 ounces of gold and approximately 3.1 million ounces of silver. Cash and total costs are estimated at $300 and $365 an ounce respectively for gold.
For the year 2005, $10.4 million has been budgeted to pre-stripping the Puren deposit. The Puren project is owned by the Sociedad Contractual Minera Puren (SCMP). This company is a joint venture between Mantos de Oro (65%) and Codelco Chile (35%). Mantos de Oro is the operator of SCMP.
Mine production at La Coipa will reach 27.54 million tonnes, with an average of 75,500 tonnes per day and a stripping ratio of 3.29. The production will be focused on two separate pits and two stages: Coipa Norte phase 5 and Brecha Norte phase 2. Coipa Norte phase 5 contributed with 59.5% of the ore shipped to the plant, while Brecha Norte phase 2 with 27.0%. A total of 849,000 tonnes will be sent for processing from the long-term stockpiles and will provide 13.2% of the mill feed during the period.
Ore processing will be 6.42 million tonnes, with an average mill throughput of 17,600 tonnes per day. The availability of the Sag mill will be 94.5% for the whole year.
Ownership Interest La Coipa mine is owned and operated by Compa�ia Minera Mantos de Oro (MDO), a Chilean company in which Placer Dome has a 50% joint venture interest through a wholly owned subsidiary. Kinross Gold Corporation holds the remaining interest.