Hecla Reports Temporary Care and Maintenance at Lucky Friday Mine
Hecla Mining Company ('Hecla?) (NYSE:HL)
reports that the Mine Safety and Health Administration ('MSHA?) has
ordered the Silver Shaft at the Lucky Friday mine in Mullan, Idaho
closed for removal of built-up material in the shaft. This order is
pursuant to the investigation following the December 14, 2011 rock
burst. Compliance with the order is expected to take through year-end.
Hecla′s 2012 silver production is now estimated to be approximately 7
million ounces.
'While we are disappointed with this order and are considering what
action we might take, work has already begun to resume production as
quickly as possible,? said Phil Baker, Hecla′s President and Chief
Executive Officer. 'The Lucky Friday mine is a world-class mine that we
see producing silver for decades to come. Hecla and the Lucky Friday
mine have faced challenges in the past and we will once again overcome
them.?
The Silver Shaft is a one-mile deep shaft from surface and the primary
access to the Lucky Friday mine. The sand and concrete material to be
removed from the shaft has built up over a number of years and is
expected to be removed primarily by power washing. All other significant
activities at the mine including construction of the #4 Shaft and bypass
around the rock burst are on hold. Care and maintenance of the
underground will be focused on the 4900 level where the #4 Shaft
infrastructure is located. Production is expected to resume in early
2013.
A conference call and webcast will be held Wednesday, January 11, at
1:00 p.m. Eastern Time to discuss this latest development. You may join
the conference call by dialing toll-free 1-866-510-0711 or
1-617-597-5379 internationally. The participant passcode is HECLA.
Hecla′s live and archived webcast can be accessed at www.hecla-mining.com
under Investors or via Thomson StreetEvents Network.
Cautionary Statements
Statements made which are not historical facts, such as strategies,
plans, anticipated payments, litigation outcome (including settlement
negotiations), production, sales of assets, exploration results and
plans, costs, and prices or sales performance are 'forward-looking
statements' within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as 'may,? 'will,? 'should,? 'expects,?
'intends,? 'projects,? 'believes,? 'estimates,? 'targets,? 'anticipates?
and similar expressions are used to identify these forward-looking
statements. Forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially from
those projected, anticipated, expected or implied. These risks and
uncertainties include, but are not limited to, metals price volatility,
volatility of metals production and costs, environmental and litigation
risks, operating risks, project development risks, political risks,
labor issues, ability to raise financing and exploration risks and
results. Refer to the company's Form 10-K and 10-Q reports for a more
detailed discussion of factors that may impact expected future results.
The company undertakes no obligation and has no intention of updating
forward-looking statements other than as may be required by law.
For further information, please contact:
M?lanie Hennessey | ? | ? | ? | ? |
|
Vice President ? Investor Relations |
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Direct: 604-694-7729 |
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? | |||||
Hecla Canada Ltd. | Hecla Mining Company | ||||
400 ? 580 Hornby Street | 6500 N. Mineral Drive, Suite 200 | ||||
Vancouver, British Columbia | Coeur d′Alene, Idaho 83815 | ||||
V6C 3B6 Canada |
Hecla Mining Company
M?lanie Hennessey
Vice President ?
Investor Relations
Direct: 604-694-7729
Direct Main:
800-HECLA91 (800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com