Established in 1891 in northern Idaho’s Silver Valley, Hecla Mining Company’s rich history of mining has distinguished it as a respected precious metals producer. Hecla is the oldest U.S.-based precious metals mining company and the lowest-cost primary silver producer in North America. Now headquartered in Coeur d’Alene, Idaho, with a sister office in Vancouver, B.C., this international, publicly traded company is 117 years old.
Hecla recently acquired 100% of the fifth largest silver mine in the world – the Greens Creek joint venture in Alaska. This transaction will nearly double Hecla’s annual silver production to approximately 11 million ounces by 2009, while maintaining its already low cash costs per ounce of production.
In 2007, Hecla was the lowest-cost primary silver producer in North America, producing 5.6 million ounces of silver at an average total cash cost of negative $2.81 per ounce. Hecla also produced 107,708 ounces of gold. The company has exploration properties and operating mines in the U.S. and Mexico. Hecla’s proven operating expertise, recent acquisitions, low-cost growth profile and excellent exploration potential emphasize Hecla’s position as a low-cost, low-risk silver investment.
Hecla mines, processes or explores for silver and gold in the U.S. and Mexico. Hecla currently produces silver from two silver mines, Greens Creek and Lucky Friday. In 2007, the Greens Creek mine in Alaska contributed 2.6 million ounces of silver to Hecla’s account (Hecla owned just 29.73% interest at that time), and the Lucky Friday mine in northern Idaho produced 3.0 million ounces.
Hecla has long been well known in the United States as a quality producer of silver and gold. The name “Hecla” is commonly associated with both precious metals by investors. Hecla’s common stock has been traded on the New York Stock Exchange for over 40 years under the symbol “HL.”