Coeur set to start up new mine inBolivia

Coeur d'Alene Mines Corp. says it's in the final stages of startup of a new silver mine at its San Bartolome property in Bolivia after investing $146.8 million through the first quarter to construct the mine and ore-processing facilities there.

The Coeur d'Alene-based company says in its first-quarter

A spokesman for the company couldn't be reached for comment, but in a statement released by Coeur, Dennis Wheeler, the company's chairman, president, and CEO says, "This new mine, the largest pure silver operation in the world, is expected to produce 6 million (troy) ounces of silver during the remainder of the year, boosting Coeur's overall production for 2008 by nearly 40 percent and more than doubling the company's operating cash flow this year."

In its earnings statement, Coeur reported net income of $4.7 million, or 1 cent a share, in the first quarter, down from $14 million, or 5 cents a share, in the year-earlier period. The company said its revenues from metal sales in the quarter increased to just under $57.3 million, up from $50.9 million.