Minera Andes’ Q4 gold/silver output dips

Argentina-focused Minera Andes Inc said fourth-quarter gold and silver production at its partly owned San Jose mine was down by about a fifth due to a two-week maintenance shutdown and a fall in ore quality.

Silver production dipped about 22 percent at 1.5 million ounces while gold output was down about 20 percent at 20,934 ounces, the Toronto-based company said in a statement.

Minera said the fall in silver and gold grades that affected fourth-quarter production “represented normal fluctuations within the mining sequence.”

Canada’s Minera owns 49 percent of the of San Jose mine in the Santa Cruz province of Argentina, while the remaining is owned by Peru-based Hochschild Mining PLC.

Minera shares closed at C$2.05 on Tuesday on the Toronto Stock Exchange. – Reuters

Tags: Minera Andes, Silver, silver mining, silver mining companies, silver mining industry

Posted by Silver Guru on Jan 20 2012. Filed under Silver mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry