The acquisition of Mines Management Inc. by Hecla Mining Co. is now complete. The acquisition includes the Montanore project, a large undeveloped silver and gold project in Montana for which the final Environmental Impact Statement and Records of Decision were issued earlier this year. Montanore will remain owned by Mines Management, which is now a wholly owned subsidiary of Hecla.
“Montanore has the potential to be a major silver and copper producer and we appreciate the support of the local community and Mines Management for this acquisition,” said Phillips S. Baker Jr., Hecla president and CEO. “The next step is to complete the permitting so we can mine in a safe and environmentally responsible way.”
Hecla acquired Mines Management through an all-stock deal valued at $46 million.