Hecla Mining Company has acquired Alexco Resource Corp.
The deal increases Hecla’s silver exposure by increasing proven and probable silver reserves by 19%.
“At Hecla, we have followed the Keno Hill project closely for many years, as it is one of the few deposits that fit into Hecla’s strategy of owning and operating properties in tier one jurisdictions,” said Phillips S. Baker Jr., CEO of Hecla. “As the United States’ largest silver producer, producing over 40% of the silver mined in the U.S., it is natural that Hecla acquires Keno Hill, which could also make Hecla Canada’s largest silver producer. Silver is a critical element to help decarbonize the economy, and the need for domestic supply is growing. Acquiring Keno Hill allows Hecla to meet this need with a secure high-grade silver development and exploration project that has a small environmental footprint.”