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McEwen Mining's Q3 output up 47% y-on-y

15th October 2013

Creamer Media Deputy Editor: North America

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TORONTO (miningweekly.com) – Precious-metals miner McEwen Mining has increased its third-quarter output from its two operations in Mexico and Argentina by 47% year-on-year to 36 495 gold-equivalent ounces, boosted by higher grades and recoveries from the San Jose mine.

During the quarter ended September 30, the company’s total production included 20 483 oz of gold and 832 594 oz of silver, which was a 2% improvement on the second quarter ended July 31.

At the 49%-owned San Jose operation, of which joint venture partner Hochschild Mining owns the other 51%, McEwen’s share of the output totalled 12 549 oz of gold and 827 726 oz of silver.

The gold grade improved 25% year-on-year to 6.59 g/t, and the silver grade rose 11% to 446 g/t. Gold recoveries were up 2.6% to 91.9% and silver recoveries rose 1.6% to 89.5%.

At the wholly owned El Gallo Phase 1 mine, McEwen produced less gold and silver than in the second quarter, recording lower grades and less ore production.

The mine produced 7 934 oz of gold and 4 868 oz of silver, resulting in a 6% quarter-on-quarter drop in gold-equivalent output to 8 028 oz for the period.

Chief owner Rob McEwen said the company remained on track to produce 130 000 gold-equivalent ounces in 2013.

Edited by Creamer Media Reporter

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