Hecla reports 24% silver production decline in Q3 due to lower grades at Greens Creek
(Kitco News) - Hecla Mining (NYSE:HL), the United States' largest silver producer, announced yesterday that its silver production of 2.7 million ounces in Q3 2021 was 24% lower compared to Q3 2020 due to lower grades at Greens Creek based on mine sequencing, partially offset by Lucky Friday production.
The company's gold production of 42,206 ounces was in line with the same period in the prior year, whereas zinc production decreased by 14% to 15,545 tons due to Greens Creek's lower grades, while lead production increased slightly to 9,904 tons with Lucky Friday being in full production.
"Lucky Friday and Casa Berardi both delivered strong operational quarters, with Casa Berardi increasing gold production by 13% and Lucky Friday increasing silver production by 31% over last year," said President and CEO Phillips S. Baker, Jr. "Greens Creek had a good quarter but was down compared to an exceptional 2020 third quarter. The mine experienced lower grades due to the mine sequence, which was driven by manpower challenges that are being addressed through schedule changes and other means."
Founded in 1891, Hecla Mining is the largest silver producer in the United States. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the company owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America.