Up to 275,000 ounces of gold expected from Rainy River Mine in 2026
Coeur Mining has set its production expectations for its newly acquired Rainy River Mine.
During a recent update following the completion of a deal with New Gold, President Mitchell Krebs says Rainy River is positioned to deliver the highest-ever annual production in its history.
“Our nine-month gold production guidance of 230,000 to 275,000 ounces includes production from both the open pit and underground operations,” says Krebs.
“Continued progress on underground mining development rates will be a key factor to ensuring a successful 2026 at Rainy River.
The two new Canadian operations are driving an expected 80 % increase in our 2026 gold production, and also add copper production to go along with our status as a top five global silver producer. Based on recent prices,
Krebs says gold will account for about 65% of the company’s total revenue for the year.
Coeur anticipates 70% per cent coming directly from the two Canadian operations acquired in the acquisition agreement with New Gold.
The new owners have also pushed the potential closing of the mine forward by two years.
It estimates that the site may still have over 2.2 million ounces of gold and 5.6 million ounces of silver to be mined.
New Gold provided additional funding in 2025 toward a search for additional resources.
Coeur has indicated a willingness to continue those efforts.