Hecla Mining Backs Full-Year Production Outlook

Hecla Mining Co. backed its full-year production outlook on Monday despite the suspension of work at its Lucky Friday silver mine in Idaho, where a contractor died in an accident last week.

The company, which mines silver and gold in the United States and Mexico, expects to produce 9-10 million ounces of silver for the full year, at a cash cost of about $1 per ounce.

On Nov. 17, an accident at the company's Lucky Friday mine injured two contractors. One of them died on Nov. 19.

This marks the second accident at the mine this year, after a ground collapse incident in April.

Hecla said it and the Federal Mine Safety and Health Administration were investigating the accident.

The company, which ceased mining operations at the Lucky Friday mine after the incident, has not yet announced a date for resuming operations.

Shares of the company, valued at $1.67 billion, closed at $5.97 on the New York Stock Exchange on Friday.