With the silver price hovering around $35 an ounce — up from $5 a decade ago —
the mine's owners, Aurcana Corp., are looking clairvoyant.
“With production
costs of significantly less than $10 an ounce, the idea of reopening this mine
was a very good one,” said Greg Miller, a mining consultant for Aurcana, which
bought the Rio Grande Mining Co. in 2008 for $40 million, since has invested $60
million to revive the operation.
Miller said some of the sweet spots are
proving as rich as chocolate cake.
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