Posts tagged: Hecla
Hecla Mining Company’s stock price tumbled this morning after the Coeur d’Alene-based company announced Tuesday evening a year-long closure at its Lucky Friday Mine in North Idaho for removal of built-up material in the silver shaft. Hecla’s stock, traded on the New York Stock Exchange, lost a quarter of its value in morning trading today. It was trading around $4.40 a share at 8 a.m. Pacific, down $1.44 from the close Tuesday. That’s the lowest it has been since mid-2010. Federal mine inspectors, who are investigating accidents at the Mullan, Idaho, mine, closed down Lucky Friday’s main shaft last week as a result of hazards associated with loose rock. The vertical shaft is the underground silver mine’s main entrance and exit, and hauls both workers and materials/Spokesman-Review. More here.
Question: Do you own Hecla stock?
The body of Lucky Friday miner Larry Marek was recovered this afternoon after he was killed in a mine collapse on April 15, Hecla Mining Co. announced today. The Coeur d’Alene company had had crews working 24 hours a day since that collapse trying to reach Marek in hopes he survived the cave-in and was trapped behind a massive rock pile. However, the company issued a news release at 7 p.m. saying that the 53-year-old’s body was recovered and that his family had been notified. “Words cannot express the deep sorrow we feel at the tragic loss of our friend, colleague and 30-year veteran of the mining industry. Our thoughts and prayers are with his family, loved ones and friends,” the release said/Spokesman-Review. More here.
A Lucky Friday miner was positioned at the front entrance of the mine in Mullan on Monday. He was keeping out the general public while crews worked to free trapped miner Larry Marek. Hecla has altered its rescue attempt as a result of unstable ground. See story below. (SR photo: Kathy Plonka)
Lucky Friday miner, Brad Sala, of Mullan holds his 8 month-old-son Cael Sala during the press conference at Mullan City Hall today. One miner is still trapped in the mine after a cave in. (SR photo: Kathy Plonka)
Community members and media accounts have confirmed the identity of the miner trapped more than a mile underground at the Lucky Friday Mine. Larry “Pete” Marek, a longtime Silver Valley miner, has been the subject of an intense rescue effort since a collapse at the mine Friday evening. Company officials continued to call their efforts a rescue operation nearly 24 hours after the roof of a tunnel where the miner was extracting silver-bearing ore collapsed.“We’re doing everything we can to reach the employee,” said Phillips Baker, Hecla’s chief executive officer. “Our current focus in 100 percent on the rescue of the employee and to ensure the safety of the rescue team”/Becky Kramer & John Stucke, SR. More here.
Update: Special digging machine arrives in Mullan to aid search for missing miner/Spokesman-Review
Hecla Mining Co. has reached a tentative settlement with the federal government, Coeur d’Alene Tribe and state of Idaho over its role in turning the Coeur d’Alene Basin into a Superfund site, company officials said today. Under the proposal, Hecla would pay $263.4 million over the next four years to resolve the company’s financial liability for historic releases of heavy metals into the environment. By April 15, the parties must report on the status of their negotiations in U.S. District Court in Boise. “The opportunity to settlement this litigation is an important milestone for the company,” Phil Baker, Hecla’s chief executive officer, told financial analysts today during a conference call/Becky Kramer, SR. More here.
Question: Are you happy with this tentative agreement?