Author: Josue Gomez

Ternium’s operating income in the fourth quarter 2014 was USD191.3 million, down sequentially by USD123.3 million, mainly due to lower operating margin4 and a non-recurring USD57.5 million insurance recovery in the third quarter 2014. Operating margin decreased sequentially mainly as a result of USD35 lower steel revenue per ton, partially offset by USD6 lower steel operating cost per ton5. Steel revenue per ton decreased mainly as a result of lower steel prices in Ternium’s main steel markets. The decrease in steel operating cost per ton included lower purchased slabs costs and higher energy costs.

GOLDCORP INC. reported record fourth quarter gold production of 890,900 ounces, compared to gold production of 768,900 ounces for the fourth quarter of 2013. Adjusted quarterly revenues were $1.1 billion, generating adjusted net earnings of $55 million, or $0.07 per share, compared to adjusted revenues of $1.2 billion and adjusted net earnings of $74 million, or $0.09 per share, for the fourth quarter of 2013. Adjusted operating cash flow was $337 million, or $0.41 per share, compared to $439 million, or $0.54 per share, for the fourth quarter of 2013.

“We produced 140,500 ounces of gold in 2014 at total cash costs of $703 per ounce. Despite lower production from the mill in 2014, our operating costs remained at the low end of our full year guidance, driven by another strong performance from our open pit, heap leach operation,” said John A. McCluskey , President and Chief Executive Officer.

Pan American Silver Corp. today reported on its December 31, 2014 mineral reserves and resources. Pan American’s mineral reserves are estimated to contain 300 million ounces of silver and 2.32 million ounces of gold, down from the 323.5 million ounces of silver and 2.49 million ounces of gold reported a year ago. The Company used long term metal prices assumptions of$18.50 per ounce of silver and $1,250 per ounce of gold to estimate its current reserves, both lower than the long term prices used at the end of 2013. At the same time, the Company reported that its measured and indicated silver mineral resources increased 2% to 731 million ounces, while measured and indicated gold mineral resources increased 13% to 1.8 million ounces.

Osisko Gold Royalties reported today a fourth quarter net loss of $2.2 million ($0.04 per share) and adjusted earnings of $3.1 million ($0.06 per share). For 2014, Osisko reported a net loss of $2.1 million ($0.05 per share) and adjusted earnings of $10.1 million ($0.22 per share).

Coeur Mining, Inc. announced year-end contained proven and probable mineral reserves of approximately 390.7 million silver equivalent ounces, an increase of 6.2 million silver equivalent ounces or 2% compared to year-end 2013. This gain is net of the 32.2 million silver equivalent ounces produced in 2014. In addition to these reserves, Coeur announced measured and indicated mineral resources totaling approximately 292.4 million silver equivalent ounces and inferred mineral resources totaling 127.0 million silver equivalent ounces, decreases of 45% and 21%, respectively, compared to year-end 2013.