Northern Idaho Mines Announce Merger
Two mines in northern Idaho have agreed to merge.
The Coeur d'Alene Press reports that U.S. Silver will merge with Scorpio Mining Corp. The companies announced the merger Friday.
U.S. Silver owns and operates the Galena Mine complex in the Silver Valley's Coeur d'Alene Mining District, which is just west of Wallace. Scorpio is a Toronto-based silver producer, which owns the Nuestro Senora Mine in Mexico.
Darren Blasutti will become the president and chief executive officer of the new management team.
Blasutti says the merger creates a stronger company to survive a currently low silver price environment.