Idaho Mining Company Reports Loss
COEUR D’ALENE, Idaho (AP) — Hecla Mining Co. is reporting an $8.6 million loss in the third quarter, and blames that on lower prices for precious metals. The Coeur d’Alene-based company said Tuesday that it expects its fourth quarter financial performance to show improvement.
Hecla reported the $8.6 million loss on third quarter revenues of $106.6 million. That’s compared to a $1 million loss on $81.8 million in revenues during the third quarter of 2012.
Despite the losses, Hecla says the re-opened Lucky Friday silver mine in Mullan is meeting expectations. Silver prices over the summer averaged about $22.22 per ounce, down from $35 an ounce during 2012.