After being closed for more than a year, Hecla’s Lucky Friday silver mine has resumed protection, following a series of safety upgrades that cost more than $30 million.
The mine was closed on orders from federal mine inspectors following a rock burst that injured seven workers in December 2011.
The mile-deep silver mine in Mullan, Idaho, is expected to return to full production later this year. The company announced all employees were recalled and received supplemental safety training.
The rock burst injuries followed fatal accidents at the Lucky Friday that killed two miners in April and November of 2011.
Hecla officials also said the company completed a new bypass drift at the main shaft’s 5,900 foot level, around an area impacted by the December 2011 rock burst. Hecla reporting spending roughly $30 million on the rehabilitation of the main silver shaft and an additional $26.2 million on other Lucky Friday capital projects unrelated to the shaft renovation.
If you thought that would help Hecla's stock, that's not so. As of 11:30 a.m. Pacific time, the stock dipped 9 cents or 1.5 percent