Coeur's Kensington Gold Project Receives Final Use Permit From Juneau Planning Commission
September 27 2004 - 9:30AM
PR Newswire (US)
Coeur's Kensington Gold Project Receives Final Use Permit From
Juneau Planning Commission Final Supplemental EIS and Record of
Decision Also Expected by U.S. Forest Service in 4th Quarter COEUR
D'ALENE, Idaho, Sept. 27 /PRNewswire-FirstCall/ -- Coeur d'Alene
Mines Corporation (NYSE:CDE) today announced that the Juneau
Planning Commission has approved the final Allowable Use Permit for
Coeur's Kensington gold project, located 45 miles north of Juneau,
Alaska, inside the City and Borough boundaries. The Planning
Commission approved the permit after assessing the proposed
project's relation to municipal services, environmental
considerations and consistency with the Juneau Coastal Management
Program. "Coeur is pleased to announce the successful completion of
this milestone permitting event," said Dennis E. Wheeler, Chairman
and Chief Executive Officer. "We have worked very closely with city
staff and local appointed planning officials and the Mayor and
Assembly to design a project that is totally compatible with
municipal planning goals, ordinances and regulations. Coeur takes
its commitment to environmental protection very seriously and we
will remain dedicated to protecting the physical environment, our
employees and the general public as we advance the development of
Kensington." In addition, the Company anticipates that the Final
Supplemental EIS and Record of Decision will be issued by the U.S.
Forest Service in November of this year. As previously announced by
the Company, the final feasibility study has been completed for
Kensington, with future production expected at approximately
100,000 ounces of gold annually over a minimum ten year mine life.
Initial production is anticipated to commence in 2006. Kensington
is expected to create approximately 300 jobs during the
construction phase, with an eventual 225 full-time jobs anticipated
during operation of the mine. Coeur has committed itself to both
local and Native hire for the project. Coeur d'Alene Mines
Corporation is the world's largest primary silver producer, as well
as a significant and growing low-cost producer of gold. The Company
has mining interests in Nevada, Idaho, Alaska, Argentina, Chile and
Bolivia. Contact: Tony Ebersole Director Investor Relations
800-523-1535 Cautionary Statement This document contains numerous
forward-looking statements relating to the Company's silver and
gold mining business. Such forward-looking statements include the
statements above as to the impact of the proposed acquisition on
both the combined entity and the Company's shareholders. Such
statements are subject to numerous assumptions and uncertainties,
many of which are outside the Company's control. These include
negotiation and completion of a formal transaction agreement,
governmental regulatory processes, the Company's ability to
successfully integrate the operations of Wheaton River, assumptions
with respect to future revenues, expected mining program
performance and cash flows and the outcome of contingencies.
Operating, exploration and financial data, and other statements in
this document are based on information the company believes
reasonable, but involve significant uncertainties as to future gold
and silver prices, costs, ore grades, estimation of gold and silver
reserves, mining and processing conditions, the completion and/or
updating of mining feasibility studies, changes that could result
from the Company's future acquisition of new mining properties or
businesses, the risks and hazards inherent in the mining business
(including environmental hazards, industrial accidents, weather or
geologically related conditions), regulatory and permitting
matters, risks inherent in the ownership and operation of, or
investment in, mining properties or businesses in foreign
countries, as well as other uncertainties and risk factors set out
in the Company's filings from time to time with the SEC, including,
without limitation, the Company's reports on Form 10-K and Form
10-Q. Actual results and timetables could vary significantly from
the estimates presented. Readers are cautioned not to put undue
reliance on forward-looking statements. The Company disclaims any
intent or obligation to update publicly these forward-looking
statements, whether as a result of new information, future events
or otherwise. DATASOURCE: Coeur d'Alene Mines Corporation CONTACT:
Tony Ebersole, Director Investor Relations of Coeur d'Alene Mines
Corporation, 800-523-1535 Web site: http://www.coeur.com/
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