Coeur Mining Boosts Reserves, Extends Mine Lifespan at Key Operations
Event summary
- Coeur Mining reported year-end 2025 mineral reserves of 4.4 million ounces of gold and 274.4 million ounces of silver.
- Gold reserves at Wharf increased by 65% year-over-year, extending mine life to approximately 12 years.
- Palmarejo’s gold reserves rose 36%, extending mine life by roughly five years, driven by exploration at East Palmarejo.
- Inferred gold resources at Wharf increased by over 1 million ounces, tripling the gold inferred resource pipeline.
The big picture
Coeur Mining’s reserve and resource growth underscores the importance of ongoing exploration and investment in extending the life of existing mines. This strategy is increasingly vital for precious metals producers facing rising operating costs and the need to replace depleting reserves. The substantial increase in reserves at Wharf, coupled with the extended mine life, positions Coeur favorably within the sector, but hinges on continued operational success and favorable commodity pricing.
What we're watching
- Operational Execution
- The success of Coeur’s continued exploration at Palmarejo and Wharf will be critical to sustaining the reserve and resource growth demonstrated in 2025, and the company’s ability to convert inferred resources into proven and probable reserves will be a key indicator of long-term value.
- Commodity Prices
- Coeur’s updated technical report relies on specific gold and silver price assumptions; a significant and sustained downturn in precious metals prices could negatively impact the economic viability of its operations and reserve estimates.
- Geopolitical Risk
- Given Coeur’s operations in Mexico, the company’s performance will be influenced by the evolving political and regulatory landscape in the country, and any shifts in government policy could impact mining operations and investment.
Related topics