Primero’s reserves slide 9% after high-grading active operations

Canadian silver producer Primero Mining’s mineral reserves have been negatively impacted after it increased the minimum cut-off grades at its two active mines in Canada and Mexico. TSX- and NYSE-listed Primero's 2014 year-end gold reserves declined by 9% from 2013 to 1.9-million ounces of gold. This was mainly owing to the application of higher cut-off grades at the Black Fox mine, in Ontario, Canada, and San Dimas, in Durango state, Mexico, and the impact of fewer expected ounces from the Black Fox openpit, as a result of lower-than-expected grades.