Endeavour Silver Corp. will cut the production rate in half at its El Cubo silver-gold mine in Guanajuato, Mexico, due to the short mine life.
Production in 2019 will be at a capacity of 1,500 tonnes per day, with higher operating costs compared to 2018.
The mine will continue to run at three shifts per day but the plant will move to one shift per day next year. Endeavour has also initiated layoffs of about 240 employees.
Meanwhile, the company will continue exploration for new reserves to extend the mine life.
The company said Dec. 17 that it has shipped some idled mining equipment at El Cubo to the El Compas mine in Zacatecas to facilitate its mine plan in 2019.
Earlier in the year, decreases in precious metal prices prompted Endeavour to cut costs and adjust its exploration, development and mining plans to reduce operating, capital and other costs in Canada and Mexico until prices recover.
The company halted drilling at the end of August, and said its head office will reduce general and administrative costs across all departments.