Coeur lifts output outlook, unveils $750m buyback after New Gold deal
US-based precious metals miner Coeur Mining has raised its 2026 production outlook and unveiled an expanded capital return programme following the completion of its acquisition of New Gold.
The transaction, which closed on Friday, adds the New Afton and Rainy River operations in Canada to Coeur’s portfolio, positioning the company as a larger North American producer with increased gold and copper exposure.
Coeur expects 2026 consolidated production of 680 000 oz to 815 000 oz of gold, 18.7-million ounces to 21.9-million ounces of silver, and 50-million pounds to 65-million pounds of copper, reflecting nine months of contribution from the newly acquired assets.
The company said the acquisition increased its expected gold production by about 80%, while also adding meaningful copper output.
Alongside the updated guidance, Coeur announced a strengthened capital return framework, including a $750-million share buyback programme and an inaugural semiannual dividend of $0.02 per share, expected to be paid in June and December.
The group has also secured a new $1-billion revolving credit facility to enhance liquidity.
“Today marks an important milestone in Coeur’s transformation to the sector’s newest senior precious metals producer,” commented chairperson, president and CEO Mitchell Krebs.
“With the New Gold acquisition now complete, the addition of New Afton and Rainy River increases our expected overall gold production by 80% and adds meaningful copper production alongside our dominant silver production profile.”
Updated technical reports for the New Afton and Rainy River mines highlight further upside, including a two-year mine life extension at Rainy River and additional growth potential at New Afton.
At New Afton, Coeur reported a maiden mineral resource at the K-Zone, with measured and indicated resources of 47.6-million tonnes containing 715 000 oz of gold, 2.8-million ounces of silver and 606-million pounds of copper, supporting future mine life extension opportunities.
Krebs said the combined asset base was expected to generate strong free cash flow, supporting both shareholder returns and future growth initiatives.
“The tremendous free cash flow profile from our combined platform of seven North American operations will allow the company to meaningfully accelerate and enlarge its return of capital strategy while also further bolstering our overall liquidity position.”
The company said it would continue advancing key growth projects, including the K-ZK at New Afton, studies at the Silvertip silver project and broader exploration across its portfolio.
