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Mining|Maintenance|Operations
Mining|Maintenance|Operations
mining|maintenance|operations

Hecla slashes 2024 silver guidance amid unplanned maintenance

Hecla's Greens Creek mine

Hecla's Greens Creek mine

7th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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NYSE-listed Hecla Mining, the largest silver producer in the US, has downgraded its 2024 silver production guidance following unplanned maintenance at its Greens Creek mine, in Alaska, and operational setbacks at its Lucky Friday mine, in Idaho.

The company announced a 200 000-oz reduction in full-year guidance for Greens Creek, attributing the shortfall to a five-day mill outage that impacted third-quarter output.

Additionally, Lucky Friday reported a decline in third-quarter performance owing to lower milled grades and throughput, prompting a further 300 000-oz reduction in its yearly production forecast.

As a result, Hecla has cut its total 2024 silver production guidance by 500 000 oz. The company now expects to produce between 16-million and 17-million ounces of silver for the year, down from the previous guidance range of 16.5-million to 17.5-million ounces.

At Keno Hill, in Yukon, Hecla is on track to meet its production guidance.

Overall, Hecla produced 3.6-million ounces of silver in the third quarter, bringing year-to-date production to 12.3-million ounces.

Interim CEO Cassie Boggs reports that Lucky Friday had a strong quarter as the mill achieved the second-highest throughput in its 80-year history after a record last quarter.

"While Greens Creek’s silver production was lower than anticipated due to five days of unplanned mill maintenance in the third quarter, our team was able to complete the maintenance quickly and complete a portion of our fourth quarter scheduled maintenance simultaneously,” he says.

Meanwhile, Boggs welcomed Rob Krcmarov as Hecla’s new president and CEO.

Hecla also notes that, in light of a new CEO beginning in his role and an ongoing review of operations at Keno Hill and Casa Berardi, in Quebec, it will not provide guidance beyond 2024.

Edited by Creamer Media Reporter

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