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Coeur Mining’s New Afton Bottleneck — Can 16,000 Tonnes Per Day Unlock The Next Leg?

Coeur Mining reported record second-quarter financial results, largely driven by the full quarter contribution from its recently acquired New Afton and Rainy River operations. The company achieved quarterly revenue exceeding $1 billion for the first time, along with record adjusted EBITDA of $478 million and free cash flow of $388 million. The ending cash balance surpassed $1 billion, highlighting a strengthened balance sheet that supports ongoing exploration and organic growth investments. Coeur also initiated shareholder returns by starting a $750 million share repurchase program and declaring its first dividend in 30 years. Operationally, the quarter featured notable progress at several assets. Rochester in Nevada crushed 6.8 million metric tonnes, a 15% improvement over the prior quarter, supported by crusher consistency and leach pad expansion. Wharf resumed normal operations ahead of schedule after crusher repairs following a fire incident.