Hecla Mining Company

The Hecla Mining Company is engaged in the production of gold, silver, and various industrial materials. Headquartered in Coeur d`Alene, Hecla Mining is the oldest company for the production of precious metals in the USA. Its shares are listed under the symbol HL at the New York Stock Market. The company is a Tier II gold producer.

Established in 1891, the company was primarily engaged in leasing rather than exploring the Hecla Mine. Nine years past before Hecla Mining paid its first dividends to the shareholders. In 1922, the company formed a joint venture with Bunker Hill & Sullivan and invested in the development of the zinc Star Mine. Twenty years passed before the Star Mine started to produce a sizeable income. In 1954, Hecla Mining invested in the U & I Uranium Incorporated and acquired the Radon and Hot Rocks uranium sites. The next milestone purchase of the company was the Lucky Friday silver mine. The site brought steady earnings of $6 million per year. In 1984, Hecla Mining bought the New Mexican Ranchers Exploration and Development Corporation. The purchase added the processing of copper, gold, clay, and volcanic rock to the operations of the company. In the 1990s, Hecla Mining shifted its focus to gold production and purchased mining properties in Mexico and the United States.

At present, Hecla Mining operates three mining sites in the United States and one site in Mexico. The Green Creek Mine contains proven reserves of 110 million ounces of silver, 0.87 million ounces of gold, 0.31 million tons of lead, and 0.85 million tons of zinc. The Lucky Friday contains 6 million ounces of silver, 0.034 million tons of lead, and 0.014 million tons of zinc. The 2008 annual output of silver, lead and zinc stood at 2.8 million ounces, 0.018 million tons, and 0.009 million tons. In 2008, Hecla Mining acquired 70 percent interest in the Colorado San Juan Mine. The site has added over 13 million ounces to the silver reserves of the company. In addition, the company is currently exploring the Mexican-based San Sebastian mining site.

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