company profile
Established in 1891 in northern Idaho’s Silver Valley, Hecla Mining Company has distinguished itself as a respected precious metals producer with a rich mining history. Hecla is the largest and one of the lowest cash cost, primary silver producers in the U.S., with exploration properties and operating mines in four world-class silver mining districts in the U.S. and Mexico. Hecla is headquartered in Coeur d’Alene, Idaho, and has a sister office in Vancouver, B.C. The company’s common stock has been traded on the New York Stock Exchange for over 40 years.
In 2011, Hecla produced 9.5 million ounces of silver at a total
cash cost(1) of $1.15 per ounce, creating record revenue of $477.6 million and a very strong balance sheet with $266.5 million in cash and no debt at year end.
Hecla currently produces silver from two mines, Greens Creek and Lucky Friday. In the first quarter of 2012, the Greens Creek mine in Alaska, which is one of the largest silver mines in the world, produced 1.3 million ounces of silver. During 2012, the Lucky Friday will be conducting rehabilitation work with operations and production expected to resume in early 2013. In addition to mine site exploration, Hecla has three major exploration projects, Silver Valley in northern Idaho; San Juan Silver in Creede, Colorado; and San Sebastian near Durango, Mexico.
Hecla has developed a solid base with long-life, low-cost mines; four district-sized land positions with organic growth opportunities, exploration upside, an excellent cash position with no debt, and has recently introduced new common stock dividends..
(1) Total cash cost per ounce of silver represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement. A reconciliation of total cash cost to cost of sales and other direct production costs and depreciation, depletions and amortization (GAAP) can be found in the legal page of this website.
