Hecla Mining
| Industry | Mining |
|---|---|
| Founded | 1891 |
| Founder | Amasa Campbell, Patsy Clark, John Finch |
| Headquarters | Coeur d'Alene , United States |
Area served | United States, Canada |
Key people | William A. Griffith (leader from 1979) |
| Products | Gold, silver, other precious metals |
Hecla Mining is a company specializing in the extraction of gold, silver, and other precious metals, with its headquarters located in Coeur d'Alene, Idaho. Established in 1891 by Amasa Campbell, Patsy Clark, and John Finch, it ranks as the second-largest silver producer within the United States, focusing mainly on operations in the Silver Valley area. This region was designated a Superfund site in 1983 due to pollution stemming from historic mining activities.
History
The initial Hecla claim was registered by James Toner in 1885, eventually leading to the establishment of Hecla Mining Company by Patsy Clark and his associates in 1891. The company was first incorporated in Idaho before expanding its registration to Washington, broadening its mining claims and developing infrastructure. Early leadership featured Edward F. Moffitt and James F. McCarthy, with ore initially processed at facilities owned by American Metal Company.
By 1915, Hecla had secured a listing on the New York Curb Exchange, consistently distributing dividends while extending mine shafts to depths exceeding 2,000 feet. The firm collaborated with Bunker Hill Mining Company to create Sullivan Mining Company for zinc extraction, employing advanced electrolytic techniques by 1928. Despite challenges such as the 1923 fire at Burke, Hecla rebuilt with updated facilities and discovered additional ore deposits throughout the 1920s.
During the 1930s and 1940s, Hecla expanded its portfolio by acquiring important assets like the Polaris Mine and Silver Summit claims. Newmont Mining held a minority interest and contributed board-level expertise during this period. Under presidents Lewis E. Hanley and Lester Randall, Hecla processed millions of tons of tailings and consolidated its holdings by purchasing significant stakes in Sullivan and Lucky Friday Silver-Lead Mines. The full integration of Lucky Friday into Hecla occurred in 1964, enabling the company to be listed on the New York Stock Exchange.
Growth continued through acquisitions such as the Morning Mine from Asarco in 1966 and an increased investment in Day Mines, Inc., which brought gold properties including Knob Hill mine following a merger with Day Mines in 1981. Development initiatives involved deepening shafts and linking multiple mines via underground tunnels. However, some projects like the Lakeshore copper mine failed due to unfavorable market conditions.
Starting in 1979 under William A. Griffith’s leadership, Hecla streamlined its operations and diversified through mergers such as acquiring Ranchers Exploration in 1984, which added further silver mines and aggregate businesses. The corporate headquarters moved to Coeur d’Alene in 1986.
In June 2011, Hecla resolved a significant environmental lawsuit related to Superfund contamination within the Coeur d’Alene Basin by agreeing to pay $263.4 million toward restoration activities, marking a critical legal and financial milestone for the company.
By 2016, production figures reached 17.2 million ounces of silver alongside more than 233,000 ounces of gold, demonstrating steady operational growth. More recently, in 2023, Hecla addressed EPA violations at its Greens Creek Mine by paying a $143,124 fine and implementing corrective actions.
This historical overview highlights Hecla’s strategic approach to mining operations, acquisitions, environmental responsibility, and its prominent role in precious metals production throughout North America.
Location sites
Hecla manages several processing facilities outside the United States, notably the wholly owned Casa Berardi mine located in La Sarre, Quebec, which produces around 121,493 ounces of gold annually. Additional significant holdings comprise the Greens Creek and Lucky Friday mines. The Lucky Friday mine, an extensive underground operation in service since 1942, experienced reduced output in 2020 as a result of the COVID-19 pandemic, producing close to 2 million ounces of silver during that period.