CORRECTED-Coeur Mining posts loss on $773 mln mine impairment charges
(Corrects company name to Coeur Mining Inc from Coeur d'Alene in paragraph 1 and headline)
Feb 20 (Reuters) - Silver miner Coeur Mining Inc reported a fourth-quarter loss due to a $773 million charge it took to write down the value of its Palmarejo silver-gold mine in Mexico and the Kensington gold mine in Alaska.
The company, which is banking on its Rochester mine in Nevada to drive output growth, expects to produce 17 million-18.2 million silver ounces and 220,000-238,000 gold ounces in 2014.
The company produced 18 million silver ounces and 226,486 gold ounces in 2013.
Net loss was $581.5 million, or $5.77 per share, in the fourth quarter ended Dec. 31, compared with a profit of $37.6 million, or 42 cents per share, a year earlier. (Reporting by Swetha Gopinath in Bangalore; Editing by Saumyadeb Chakrabarty)
- Malaysian PM says lost airliner was diverted deliberately |
- Malaysia PM says lost plane's movements indicate a deliberate act
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- UPDATE 2-Satellite data shows missing Malaysia plane may have flown thousands of miles-source
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data