Posts tagged: silver mining
We didn't take the time earlier this morning, when posting about the proximity of the proposed Rock Creek Mine and the proposed Montanore Mine, to get down a little deeper.
We should have known the USGS has the maps to answer the key question behind that earlier post: namely, how near would the two mines be, if they ever opened?
The map here, provided at this link as a USGS publication, shows that both mines would be working the same formation, the Revett Formation.
If this map is accuarte, the mines would be roughly three to five miles apart and approached from different directions. Both would be operating below the Cabinet Mountains Wilderness Area.
The Rock Creek proposed mine is to the left of the Montanore proposed site. The Troy dot closer to Libby is the operating silver-copper Troy Mine, operated by Revett Minerals.
A Revett Minerals spokesman contacted us after the first post went live, to inform us that the two mines would be distinct, but would both drill the same formation of copper and silver.
There are many miles to go before either mine clears all the hurdles.
Federal mine safety officials will not issue Hecla Mining Co. a violations pattern notice, the mine company announced today.
The federal Mine Safety and Health Administration had issued a potential pattern of violations notice for the Lucky Friday Mine in early 2012, following two fatal accidents at the Lucky Friday Mine in Mullan.
But after further review, and following more than $60 million spent on safety training and mine improvements, the MSHA said no final violation notice will be issued.
If the POV had been issued, the risk was that Hecla might have had to close the mine again, or make more focused safety efforts at the Lucky Friday.
The mine was closed for more than a year as Hecla managers made the investments and installed new equipment in the silver, zinc and lead mine.
“We are pleased that following the rehabilitation of the shaft, training and other work, MSHA has decided that the PPOV is not required. We have worked with MSHA, and are continuing to enhance many aspects of the mine’s operations and safety, including implementation of the National Mining Association’s CORESafety Program,” said Phillips S. Baker, Jr., Hecla’s President and Chief Executive Officer.
The Lucky Friday mine resumed operations last month.
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