Hecla Reports Union Ratification of a Six-Year Agreement at Lucky Friday
January 17 2023 - 7:00AM
Business Wire
Hecla Mining Company (NYSE:HL) today announced that the United
Steelworkers (USW) Union Local 5114 has ratified the Collective
Bargaining Agreement at the Company’s Lucky Friday Mine, located in
Mullan, Idaho.
The USW Local 5114 and the Company have agreed to a 6-year
contract. The work rules were largely unchanged from the prior
agreement. Wages are increased to reflect recent inflationary
pressures and to maintain Lucky Friday’s competitiveness in a tight
labor market.
“With the ratification of this 6-year agreement, Lucky Friday is
positioned for continued successful growth well into the future”,
said Phillips S. Baker, Jr., President & CEO. “The agreement
shows the strong working relationship with the USW Local 5114 and
gives both the work force and Hecla stability. With 2022’s 24%
increase in silver production over 2021 and the expected further
growth in the coming years, we believe this decade will be the best
in the mine’s 80-year history.”
ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest
silver producer in the United States. In addition to operating
mines in Alaska, Idaho, and Quebec, Canada, the Company is
developing a mine in the Yukon, Canada, and owns a number of
exploration and pre-development projects in world-class silver and
gold mining districts throughout North America.
Cautionary Statements Regarding Estimates and 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 Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are intended to be covered by the safe harbor
created by such sections and other applicable laws, and
"forward-looking information" within the meaning of Canadian
securities laws. When a forward-looking statement expresses or
implies an expectation or belief as to future events or results,
such expectation or belief is expressed in good faith and believed
to have a reasonable basis. However, such statements are subject to
risks, uncertainties and other factors, which could cause actual
results to differ materially from future results expressed,
projected or implied by the forward-looking statements.
Forward-looking statements often address our expected future
business and financial performance and financial condition and
often contain words such as “anticipate,” “intend,” “plan,” “will,”
“could,” “would,” “estimate,” “should,” “expect,” “believe,”
“project,” “target,” “indicative,” “preliminary,” “potential” and
similar expressions. Forward-looking statements in this news
release may include, without limitation: (i) Company has the
potential to be the largest silver producer in the U.S. and Canada.
Estimates or expectations of future events or results are based
upon certain assumptions, which may prove to be incorrect, which
could cause actual results to differ from forward-looking
statements. Such assumptions, include, but are not limited to: (i)
there being no significant change to current geotechnical,
metallurgical, hydrological and other physical conditions; (ii)
permitting, development, operations and expansion of the Company’s
projects being consistent with current expectations and mine plans;
(iii) political/regulatory developments in any jurisdiction in
which the Company operates being consistent with its current
expectations; (iv) certain price assumptions for gold, silver, lead
and zinc; (v) prices for key supplies being approximately
consistent with current levels; (vi) the accuracy of our current
mineral reserve and mineral resource estimates; (vii) 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; (viii) sufficient
workforce is available and trained to perform assigned tasks; (ix)
weather patterns and rain/snowfall within normal seasonal ranges so
as not to impact operations; (x) relations with interested parties,
including Native Americans, remain productive; and (xi) factors do
not arise that reduce available cash balances.
In addition, material risks that could cause actual results to
differ from forward-looking statements include but are not limited
to: (i) gold, silver and other metals price volatility; (ii)
operating risks; (iii) currency fluctuations; (iv) increased
production costs and variances in ore grade or recovery rates from
those assumed in mining plans; (v) community relations; and (vi)
litigation, political, regulatory, labor and environmental risks.
For a more detailed discussion of such risks and other factors, see
the Company's 2021 Form 10-K filed on February 22, 2022, and Form
10-Q filed on August 5, 2022 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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version on businesswire.com: https://www.businesswire.com/news/home/20230117005507/en/
For further information, please contact:
Anvita M. Patil Vice President – Investor Relations and
Treasurer
Cheryl Turner Communications Coordinator
800-HECLA91 (800-432-5291) Investor Relations Email:
hmc-info@hecla-mining.com Website: www.hecla-mining.com
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