Briefcase

High silver prices could reopen Coeur Mine

With silver trading near $23 per ounce, U.S. Silver Corp. plans to restart a closed mine near Wallace and hire 30 to 35 more workers. The company also operates the nearby Galena Mine, which employs about 255 workers.

• Profitable again: The Coeur Mine closed in 1997, when silver was trading at $5 to $6 per ounce. Higher prices make it economical to go back and retrieve minerals left behind during earlier operations, company president Tom Parker said.

• Ramping up: U.S. Silver will spend about $5 million to put the mine back into production. Work to reopen the mine should begin by Jan. 1, with initial silver production expected by mid-2011.

• Outlook: Parker estimates annual output of up to 500,000 ounces. The mine should operate about three years, though additional discoveries could extend its life.

Becky Kramer

Local innovators receive Catalyst Awards

Seven area groups and business leaders won Catalyst Awards on Wednesday during a ceremony at the Lincoln Center in Spokane. Those recognized for their contributions to economic development in the region through technology and innovation were:

• Kim Zentz, innovator of the year.

• Hotstart, company of the year.

• McKinstry, green company of the year.

• Goodwill Industries Empowerment Zone, organization of the year.

• Spokane Indians Baseball Club, green organization of the year.

• Norm Leatha, mentor of the year.

• Brian Boler and Reid Schilperoort, with Pullman-based Ecowell, entrepreneurs of the year.

Facebook tool keeps friends in their place

Facebook introduced a new tool to make it easier to divide online friends into different groups so users can narrow the audiences for different things that they post.

• The object: The change is intended to make people more comfortable about posting observations and pictures for which they only want a limited audience. Group members can post information that only other members can see.

• Copying data: Another new control will allow people to retrieve all the information they have posted on Facebook for their own personal records.

Costco sees big income boost in fourth quarter

Costco Wholesale Corp.’s fourth-quarter net income rose nearly 16 percent on increased revenue from membership fees and international operations.

• Net income: Rose nearly 16 percent, to $432 million, or 97 cents per share.

• Revenue: Rose 8 percent, to $24.13 billion.

• Expectations: Analysts had anticipated the company would earn 95 cents per share on revenue of $24.23 billion.