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Article: United States: Hecla Acquires 70.3% Of Greens Creek For $750 Million.
- Article from:
- TendersInfo
- Article date:
- May 9, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sunder03
COEUR D'ALENE, ID - Hecla Mining Company announced an agreement with Kennecott, a subsdidiary of Rio Tinto, to acquire the companies owning 70.3% of the Greens Creek mine near Juneau, Alaska.
Highlights: 1) Hecla will control 100% of the world's fifth largest silver mine; 2) almost doubles Hecla's annual silver production to approximately 11 million ounces; 3) increases silver reserves by about 150% and gold reserves by about 140%; 4) Greens Creek is among the lowest cash cost silver mines in North America
Hecla President and Chief Executive Officer, Phillips S. Baker, Jr., said, "We are extremely excited about acquiring the ...