HECLA MINING CO

Hecla Mining Company (NYSE: HL) operates as a precious and base metals mining company with a history dating back to 1891. The company discovers, acquires, and develops mines while producing and marketing concentrates containing silver, gold, lead, zinc, and copper, along with carbon material and unrefined doré containing silver and gold. Hecla's website is located at www.hecla.com.

The company operates four primary segments across North America. Greens Creek, located on Admiralty Island near Juneau, Alaska, has been in production since 1989 and contributed 44.3 percent of total metals sales in 2025. Lucky Friday, situated in northern Idaho and operating since 1958, accounted for 22.2 percent of sales. Keno Hill, acquired through the 2022 acquisition of Alexco Resource Corp. and located in Canada's Yukon Territory, contributed 10.5 percent of sales while ramping up to commercial production. Casa Berardi, located in northwestern Quebec and producing since 2006, represented 23.0 percent of sales. In January 2026, Hecla announced a definitive agreement to sell Casa Berardi to Orezone Gold Corporation for up to $593 million in total consideration, with closing expected in the first quarter of 2026.

Hecla's products are sold to custom smelters, metal traders, and third-party processors. The company's realized average prices in 2025 reflected significant increases across most metals compared to prior years, with silver averaging $45.25 per ounce and gold averaging $3,490 per ounce.

As of December 31, 2025, Hecla employed approximately 1,865 people, with roughly 1,096 in the United States, 757 in Canada, and 12 in Mexico. The vast majority of employees are full-time, with approximately 325 Lucky Friday employees covered by collective bargaining agreements.

The company maintains a capital-intensive business model requiring ongoing investment in equipment, facilities, and mineral reserve development. At December 31, 2025, the book value of properties, plants, equipment, and mine development, net of accumulated depreciation, was approximately $2.8 billion. Hecla's business strategy focuses on safe and environmentally responsible operations, balance sheet strengthening, operational optimization, reserve expansion, and strategic acquisitions and exploration activities.