Hecla Announces Lucky Friday Mine Released from PPOV Status by Mine Safety and Health Administration
Hecla Mining Company (NYSE:HL)
(Hecla or the Company) announced today that the Mine Safety and Health
Administration (MSHA) has officially notified the Company that the Lucky
Friday Mine will not be issued a potential pattern of violations (PPOV)
notification, a possibility the agency had indicated late last year.
'We are pleased that following the rehabilitation of the shaft, training
and other work, MSHA has decided that the PPOV is not required. We have
worked with MSHA, and are continuing to enhance many aspects of the
mine′s operations and safety, including implementation of the National
Mining Association′s CORESafety Program,? said Phillips S. Baker, Jr.,
Hecla′s President and Chief Executive Officer.
The Lucky Friday mine resumed operations in the first quarter of 2013.
Production levels are expected to ramp up to normal production levels by
mid-year as rehabilitation work continues, and the mine is expected to
produce approximately two million ounces of silver for the full year
2013, and approximately three million ounces of silver in 2014.
The Company has recalled the employees necessary to reach full
production and arranged for all employees, both returning and new, to
receive supplemental safety training, with enhanced procedures for risk
assessment and accident prevention designed to improve existing safe
work practices. Ground support has been upgraded for over 8.25 miles of
underground workings.
ABOUT HECLA
Established in 1891, Hecla Mining Company is one of the largest and
lowest-cost primary silver producers in the U.S. The company has two
operating mines and exploration properties in four world-class silver
mining districts in the U.S. and Mexico.
Cautionary Statements
Statements made which are not historical facts, such as anticipated
payments, litigation outcome, production, sales of assets, exploration
results and plans, prospects and opportunities including reserves,
resources, and mineralization, 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 and regulatory 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.
Hecla Mining Company
Investor Relations
Jim Sabala, Sr. VP and
CFO
or
Mike Westerlund, VP-Investor Relations
Direct
Main: 1-800-HECLA91 (1-800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com
