Hecla Reports Labor Strike at Lucky Friday
March 13 2017 - 8:45AM
Business Wire
Hecla Mining Company (NYSE:HL) reported the United Steelworkers
Union Local 5114 went on strike today at the Company’s Lucky Friday
Mine, located in Mullan, Idaho.
“We are disappointed in USW Local 5114’s decision to walk out,
because this decision benefits no one – not the workers, their
families, the local communities or the Company,” said Phillips S.
Baker, Jr., Hecla’s President and CEO. “Lucky Friday has been an
important part of the local economy for nearly 75 years, providing
jobs with an above-average wage plus benefits.”
Mr. Baker continued, “Our last, best and final offer provides
competitive benefits but also provides the flexibility necessary to
operate the mine successfully in a changing economic and regulatory
environment. Since the Lucky Friday is our highest cost mine, the
changes will allow costs to improve. While it is unfortunate Local
5114 has taken this action, we believe that with Hecla's cash flow,
and strong treasury, the strike will not have a material impact on
our financial position.”
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE:HL) is a leading
low-cost U.S. silver producer with operating mines in Alaska, Idaho
and Mexico, and is a growing gold producer with an operating mine
in Quebec, Canada. The Company also has exploration and
pre-development properties in seven world-class silver and gold
mining districts in the U.S., Canada, and Mexico, and an
exploration office and investments in early-stage silver
exploration projects in Canada.
Cautionary Statements Regarding Forward Looking
Statements
Statements made or information provided in this news release
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 and "forward-looking information" within the meaning of
Canadian securities laws. Words such as “may”, “will”, “should”,
“expects”, “intends”, “projects”, “believes”, “estimates”,
“targets”, “anticipates” and similar expressions are used to
identify these forward-looking statements. Such forward-looking
statements or forward-looking information include statements or
information regarding estimates of silver production for 2016 on a
consolidated basis and at each of the Greens Creek, Lucky Friday
and San Sebastian mines, annual gold production for 2016 at Casa
Berardi, and fourth quarter 2016 production. The material factors
or assumptions used to develop such forward-looking statements or
forward-looking information include that the Company’s plans for
development and production will proceed as expected and will not
require revision as a result of risks or uncertainties, whether
known, unknown or unanticipated, to which the Company’s operations
are subject.
Forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those projected, anticipated, expected or implied. These risks
and uncertainties include, but are not limited to, metals price
volatility, volatility of metals production and costs, litigation,
regulatory and environmental risks, operating risks, project
development risks, political risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the Company's
Form 10K and 10-Q reports for a more detailed discussion of
factors that may impact expected future results. The Company
undertakes no obligation and has no intention of updating
forward-looking statements other than as may be required by
law.
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Hecla Mining CompanyMike WesterlundVice President, Investor
Relations800-HECLA91 (800-432-5291)Investor
Relationshmc-info@hecla-mining.comwww.hecla-mining.com
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