Make Kitco Your Homepage

Hecla Mining 3Q Silver Output Falls Due To Strike; Gold Output Up

Kitco News

(Kitco News) - Hecla Mining Co. (NYSE: HL) reported Thursday that third-quarter silver production fell from a year ago mainly due to a strike at the Lucky Friday Mine in Idaho, but gold production was higher.

The company listed July-September silver output of 3.3 million ounces, down from 4.3 million a year ago. With union workers at Lucky Friday on strike, output there fell to 88,298 ounces of silver, compared to 887,365 in the third quarter of 2016. Limited production and capital improvements are being performed by supervisory staff, with this expected to continue until the strike ends, Hecla said.

Meanwhile, company-wide gold production climbed to 63,046 ounces from 52,126. At the Casa Berardi Mine in Quebec, production rose to 44,141 ounces of gold, the most since Hecla acquired the mine in 2013, up from 31,949 in the third quarter of 2016.

Silver-equivalent production of 11.1 million ounces was the highest quarterly production this year, Hecla added. The company also listed by-product output of 5,368 tons of lead and 14,498 tons of zinc.

“Operational performance was exceptional in the third quarter with record throughputs at Greens Creek and in September at Casa Berardi,” said Phillips S. Baker, Jr., president and chief executive officer. “San Sebastian continues to operate at the upper end of our expectations, with the highest quarterly silver production of the year so far. The mines’ performance has led to substantial increases in production of all four metals over the second quarter and puts us well on our way to achieving their production guidance and improving per-ounce cost performance.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News