Page 46 - HMC125Years

1997 I The Rosebud gold mine in Nevada successfully begins commercial production. The underground, high- grade gold operation is a 50/50 joint venture between Hecla and Santa Fe Pacific Gold Corporation (later to become part of Newmont). Hecla’s board of directors approves final development plans to double silver production at the Lucky Friday mine in northern Idaho by expanding into the area known as the Gold Hunter expansion area. In April, mining is suspended at the Grouse Creek property, and the facility is mothballed.
1998 I Thanks to the new expansion area, Lucky Friday doubles annual production to 4.1 million ounces of silver. La Choya’s gold reserves are mined out in December after five years of operation.
1999 I Hecla acquires the assets of Monarch Resources Limited, bringing the La Camorra gold mine in Venezuela and Mexico’s Saladillo silver-gold exploration property into the Hecla fold.
2000 I After four years of operation and a total production of about 375,000 ounces of gold, the Rosebud gold mine in Nevada is mined out and closed down.
2001 I Hecla completes the sale of its industrial minerals operations, K-T Group, which includes Kentucky-Tennessee Clay Company, K-T Feldspar, and K-T Mexico.
Hecla is the best percentage performer on the New York Stock Exchange – the second time in the company’s history – and produces the most gold (240,000 ounces) and silver (8.7 million ounces) ever.
After four years of operation and a total production of about 11.2 million ounces of silver and 155,937 ounces of gold, the San Sebastian mine in Mexico is mined out and closed. Hecla continues exploration on the 346-square-mile property.
2006 I Hecla reports the highest earnings and the lowest reported cash cost for silver in its 115-year history – and increases silver reserves and resources by 25%.
2007 I In March, Hecla’s market capitalization reaches $1 billion. The company begins the Silver Valley exploration project and starts digitizing more than 100 years’ worth of historical geologic data, maps, etc.
2008 I Hecla completes the transaction to acquire the Rio Tinto subsidiaries that hold the remaining interest in the Greens Creek joint venture. As a result of the transaction, Hecla subsidiaries now hold 100% of the Greens Creek mine. The company also sells its subsidiaries engaged in gold mining and exploration in Venezuela to Rusoro Mining Ltd.
2009 I The company reports record silver production of 10.9 million ounces and record cash flow of $115 million for the year.
2010 I Hecla reports the highest annual revenue ($418.8 million) and operating cash flow ($197.8 million) in the company’s history. Lucky Friday mine, which began operating in 1942, produces its 10 millionth ton of ore. The company achieves its highest level of silver reserves and resources in the company’s history with 142 million and 248 million ounces, respectively.
Hecla receives final approval from its board of directors for completion of the
#4 Shaft Project at the Lucky Friday mine. In September, the U.S. District Court for Idaho approves and enters Hecla’s Consent Degree, which resolves all claims of the United States, the Coeur d’Alene Tribe, and the State of Idaho against Hecla Limited for historic environmental liability in
the Coeur d’Alene Basin Superfund Site.
In December, the company acquires the remaining 30% interest in the San Juan Silver project at Creede, Colorado, giving Hecla’s wholly owned subsidiary, Rio Grande, Silver, Inc., 100% ownership. Hecla reports record annual revenue of $477.6 million and record silver reserves and resources of 148 million and 281 million ounces, respectively.
2012 I Increasing for the seventh consecutive
year, silver reserves are the highest in the company’s history.
2013 I In June, Hecla completes the acquisition of Aurizon Mines Ltd., which brings 100% ownership of the Casa Berardi gold mine in Quebec, Canada.
2014 I Record annual revenue ($501 million) and proven and probable silver reserves (173 million ounces) are the highest in the company’s history.
2015 I Hecla acquires Revett Mining Company in June, giving the company 100% ownership of the Rock Creek project in Sanders County near Noxon, Montana.
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