Hecla reports second-highest silver reserves in its 130-year history
NYSE-listed Hecla Mining on Thursday announced its second-highest silver reserves in its 130-year history, with reserves increasing to 200-million ounces.
The company not only replaced silver production (15.2-million silver ounces contained), but also increased proven and probable reserves by 6%, or 11.5-million ounces, over 2020.
“Hecla’s silver reserves are near our all-time high with Greens Creek reaching 125-million ounces, that mine’s second- highest since 2002, and Lucky Friday’s 75-million ounces giving it a reserve mine life in excess of 15 years,” said president and CEO Phillips Baker.
Since 2008, Hecla has, through exploration, added 239-million silver ounces in reserves, replacing production while also growing resources.
“We see further growth in reserves, resources, and production from our exciting exploration programme,” said Baker.
Gold production was also replaced (244 680 gold ounces contained) and proven and probable reserves increased 14% to 2.7-million ounces.
Zinc production of 71 000 t was replaced and reserves increased 2% to a total of 907 000 t. Lead production of 49 000 t was nearly replaced with a slight decrease of 1% to 735 000 t.
“With the increasing need for silver to contribute to the transition to cleaner energy, Hecla has both the largest silver reserve and production in the United States which positions us to meet demand long into the future,” commented Baker.
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