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Hecla Mining posts $69 million profit in 2016 on strong performance from its silver mines

UPDATED: Thu., Feb. 23, 2017, 5:34 p.m.

Ron Krusemark, left, and Bill Hogamier talk as they drive a utility vehicle down drifts on the expansion level at the Lucky Friday mine Wednesday, Nov. 24, 2010 near Mullan. (Jesse Tinsley / The Spokesman-Review)
Ron Krusemark, left, and Bill Hogamier talk as they drive a utility vehicle down drifts on the expansion level at the Lucky Friday mine Wednesday, Nov. 24, 2010 near Mullan. (Jesse Tinsley / The Spokesman-Review)

Hecla Mining Co. had a turnaround year in 2016, reporting $69 million in profits from strong performances at the company’s silver mines.

The results, announced Thursday, amounted to earnings of 18 cents per share on sales of $646 million.

In 2015, Coeur d’Alene-based Hecla reported losses of $87.5 million, or 23 cents per share.

The company produced 17.2 million ounces of silver last year and 234,000 ounces of gold. The Lucky Friday Mine in Mullan, Idaho, contributed 3.6 million ounces of silver to the company’s total.

Hecla’s silver output is expected to grow in 2017, based on high grades of ore at the company’s Greens Creek Mine in Alaska and its San Sebastian Mine in Mexico.

The company’s 2016 accomplishment also included the purchase of the Montanore project, a silver-copper deposit in Montana.


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