NOTE 9 — MINING PROPERTIES

Mining properties consist of the following (in thousands):


				San
June 30, 2011	Palmarejo			Bartolomé			Kensington			Rochester			Martha			Endeavor			Other		Total
Operational mining properties:	$	131,261		$	66,710		$	319,306		$	103,441		$	10,714		$	—		$	—	$	631,432
Accumulated depletion		(37,054	)		(12,331	)		(19,343	)		(97,435	)		(9,996	)		—			—		(176,159	)

		94,207			54,379			299,963			6,006			718			—			—		455,273

Mineral interests		1,657,188			26,642			—			—			—			44,033			—		1,727,863
Accumulated depletion		(109,222	)		(4,946	)		—			—			—			(8,370	)		—		(122,538	)

		1,547,966			21,696			—			—			—			35,663			—		1,605,325
Non-producing and development properties		—			—			—			—			—			—			142		142


Total mining properties	$	1,642,173		$	76,075		$	299,963		$	6,006		$	718		$	35,663		$	142	$	2,060,740


				San
December 31, 2010	Palmarejo			Bartolomé			Kensington			Rochester			Martha			Endeavor			Other		Total
Operational mining properties:	$	128,734		$	66,655		$	317,156		$	99,720		$	10,096		$	—		$	—	$	622,361
Accumulated depletion		(22,655	)		(10,031	)		(9,092	)		(97,435	)		(9,998	)		—			—		(149,211	)

		106,079			56,624			308,064			2,285			98			—			—		473,150

Mineral interests		1,657,188			26,642			—			—			—			44,033			—		1,727,863
Accumulated depletion		(68,026	)		(4,027	)		—			—			—			(6,886	)		—		(78,939	)

		1,589,162			22,615			—			—			—			37,147			—		1,648,924
Non-producing and development properties		—			—			—			—			—			—			142		142


Total mining properties	$	1,695,241		$	79,239		$	308,064		$	2,285		$	98		$	37,147		$	142	$	2,122,216

Operational Mining Properties

Palmarejo: The Palmarejo silver and gold mine is an underground and surface mine located in the State of Chihuahua in northern Mexico, and its principal silver and gold properties are collectively referred to as the “Palmarejo mine.” The Palmarejo mine commenced commercial production in April 2009.

San Bartolomé Mine: The San Bartolomé mine is a silver mine located near the city of Potosi, Bolivia. The mineral rights for the San Bartolomé project are held through long-term joint venture/lease agreements with several local independent mining co-operatives and the Bolivian state owned mining organization, COMIBOL. The Company commenced commercial production at San Bartolomé in June 2008.

Kensington: The Kensington mine is an underground gold mine and consists of the Kensington and adjacent Jualin properties located on the east side of the Lynn Canal about 45 miles north-northwest of Juneau, Alaska. The Kensington mine commenced commercial production in July 2010.

Rochester Mine: The Company has conducted operations at the Rochester mine, located in Western Nevada, since September 1986. The mine utilizes the heap-leaching process to extract both silver and gold from ore mined using open pit methods. Rochester’s primary product is silver with gold produced as a by-product. The Company expects a resumption of active mining at the Rochester mine in 2011.

Martha Mine: The Martha mine is an underground silver mine located in Argentina. Coeur acquired a 100% interest in the Martha mine in April 2002. In December 2007, the Company completed a 240 tonne per day flotation mill, which produces a flotation concentrate.

Mineral Interests

Endeavor Mine: In May 2005, CDE Australia Pty. Ltd., a wholly-owned subsidiary of Coeur (“CDE Australia”) acquired silver production and reserves, up to a maximum 17.7 million payable ounces, contained at the Endeavor mine in Australia, which is owned and operated by Cobar Operations Pty. Limited (“Cobar”), a wholly-owned subsidiary of CBH Resources Ltd. (“CBH”). In March 2006, CDE Australia entered into an amended agreement under which it owns all silver production and reserves up to a total of 20.0 million payable ounces.

CDE Australia began realizing reductions in revenues in the fourth quarter of 2008 as a result of a silver price sharing provision that was part of the purchase agreement. CDE Australia has received approximately 3.3 million payable ounces to-date and the current ore reserve contains approximately 7.9 million payable ounces based on current metallurgical recovery and current smelter contract terms. It is expected that future expansion to the ore reserve will occur as a result of the conversion of portions of the property’s existing inventory of mineralized material and future exploration discoveries. CBH conducts regular exploration to discover new mineralization and to define reserves from surface and underground drilling platforms.

Non-Producing and Development Properties

The Company has no significant non-producing or development properties as of June 30, 2011, or December 31, 2010.