US-based precious metals miner Hecla Mining has suspended production at the Lucky Friday mine, in Idaho, for the remainder of the year, to complete repair work caused by a fire in the mine’s secondary egress, the #2 shaft.
The fire has been extinguished and normal ventilation has been established, Hecla reported on Monday.
The company was bringing the mine back into production by developing a new secondary egress to bypass the damaged portion of the shaft.
The mine had produced three-million ounces of silver as of the end of July 2023.
Hecla said that it did not expect a material change to 2024 consolidated silver production guidance.
The company has property insurance with an underground sub-limit of $50-million and believes this policy will cover most of the property damage and business interruption, less the deductible.