U.S.-based Coeur Mining has entered into a definitive agreement to acquire North American peer SilverCrest Metals, adding the Las Chispas underground mine in Sonora, Mexico, to its portfolio.
Under the terms of the agreement, a wholly-owned subsidiary of Coeur will acquire all of the issued and outstanding shares of SilverCrest pursuant to a court-approved plan of arrangement. The transaction is valued at $1.7 billion.
“The acquisition of SilverCrest creates a leading global silver company by adding low-cost silver and gold production and significant free cash flow to our rapidly growing production and cash flow driven by the recent expansion of our Rochester silver and gold mine in Nevada,” said Mitchell J. Krebs, chairman, president and CEO of Coeur.
“With over 15 years of experience operating our Palmarejo underground silver and gold operation next door in Chihuahua, we look forward to adding the high-quality Las Chispas mine to create a leading global silver company at a time when the demand for silver in renewable energy and a wide range of electrification end uses is rapidly rising.”
Upon closing, which is expected in late Q1 2025, current SilverCrest CEO and Director N. Eric Fier and one other current SilverCrest director will join Coeur’s board, adding extensive and relevant experience to an already distinguished board of directors.
Coeur currently owns four operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska and the Wharf gold mine in South Dakota.
Brookville promotes Kocher
Brookville Equipment has selected Chelsea Kocher, part sales account manager – Mining, to be its new senior sales manager – Mining.
Her duties will include taking on a higher leadership role in the Part Sales division, as well as new equipment sales, the company said.
“She will continue overseeing part sales, in addition to accepting her new nickname as the ‘Queen of Coal.’ Kocher will be head of New Equipment Sales for Mining, including unit sales and rebuild sales,” officials added.
Kocher will also streamline the communication process between sales and customers by creating a smooth, educated, single point contact.
Kocher has been with Brookville Equipment for 11 years. She began her career as a part sales technician followed by a rebuild part specialist with Brookville Services, to her most recent position as part sales account manager.
Becker Mining, alwaysAI to revolutionize value chain
Becker Mining Systems and vision AI technology trailblazer alwaysAI have partnered to transform the mining industry’s value chain, significantly enhancing productivity, safety and operational efficiency.
“This partnership with alwaysAI allows us to bring powerful computer vision applications to our customers,” said Dr. Wolfgang Wegener, co-chief executive officer of Becker Mining Systems. “By integrating this cutting-edge technology into mines, we can help minimize risks and reduce machine downtime while boosting overall performance.”
The companies said they will jointly develop and deploy advanced computer vision (CV) applications that will address challenges such as restricted area monitoring, personal protective equipment (PPE) compliance, equipment utilization monitoring, and more. These applications aim to reduce reliance on manual supervision, leading to greater efficiency, cost reduction, increased revenue, and valuable data-driven analytics for mines.
Additionally, Becker said it will oversee the installation of on-site infrastructure, including cameras and edge devices. The applications integrate seamlessly with the company’s existing infrastructure.