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The Rock Creek project is at an exploration stage and is not currently in development or operation. Hecla Mining Company is not presently seeking permits for the construction of the Rock Creek mine. Instead, the company's focus is on the Libby Exploration Project (formerly the Montanore project), which is intended to gather data that will inform potential future activities at Rock Creek. The original plans of operation for Rock Creek, inherited from previous owners, have been withdrawn. The project has faced legal and regulatory challenges, and in 2021 a court decision invalidated the U.S. Forest Service's approval for the mine's evaluation adit, meaning the project currently has no federal authorisation to proceed.

The Kinskuch property is located in the Golden Triangle of British Columbia and is contiguous with Dolly Varden's Kitsault Valley Project. The acquisition has significantly increased the size of the Kitsault Valley Project to approximately 77,000 hectares. Kinskuch is an exploration-stage project and is considered to be prospective for silver, gold, and copper mineralisation. There are no NI 43-101 compliant resources reported for the Kinskuch property.

as many as 30 new jobs

The Libby Exploration Project, formerly known as the Montanore project, is operated by Hecla Mining Company through its wholly-owned subsidiary, Montanore Minerals Corporation. It is located in the United States, approximately 20 aerial miles south of the town of Libby in Lincoln County, Montana, near the Cabinet Mountains. The project is currently in the exploration and evaluation phase and is not an active mining operation. The project is focused on a stratabound sediment-hosted silver-copper deposit.

Production overview - 2024: copper 1500000000 lbs, silver 183000000 oz.

existing 2.5-mile underground adit, extending the existing 2.5-mile underground adit by almost another mile

extending the existing 2.5-mile underground adit by almost another mile; a new Plan of Operations would be submitted for a separate permitting process before any potential construction and mining activities could proceed if evaluation activities support a feasible modern mine plan

The Kinskuch project was an exploration-stage asset located in the Golden Triangle of British Columbia, Canada, near Alice Arm. Hecla conducted various exploration activities, including diamond drilling and airborne geophysical surveys, to assess the property's potential for silver, gold, copper, lead, and zinc mineralization, with potential for both underground and open-pit mining.

Over 2,000 people, with 70% sourced from local communities (as of November 2025).

The Platreef Project is located on the Northern Limb of the Bushveld Igneous Complex, featuring the Flatreef deposit, a thick, high-grade, and flat-lying orebody suitable for mechanised, bulk underground mining. The project officially began production on November 18, 2025, with a phased development approach.

Phase 1 operates with a 770,000 tpa concentrator. Phase 2 expansion will increase total processing capacity to 4.1 Mtpa, with expected average annual production of over 460,000 ounces of platinum, palladium, rhodium, and gold (3PE+Au), plus approximately 9,000 tonnes of nickel and 6,000 tonnes of copper. A potential Phase 3 expansion to 10.7 Mtpa processing capacity could further increase annual production to over 1 million ounces of 3PE+Au, approximately 22,000 tonnes of nickel, and 13,000 tonnes of copper.

Ore undergoes a multi-stage process of crushing, milling, flotation, thickening, and filtration to produce a concentrate.

Shaft 1 (2.5 Mtpa hoisting capacity, 996 metres depth), Shaft 2 (6 Mtpa planned hoisting capacity), Shaft 3 (operational by April 2026, increasing total hoisting capacity to 5 Mtpa). Utilises battery-electric M2C drill rigs and 14-tonne load haul dumpers.

Phase 2 expansion underway, targeted for completion in Q4 2027, adding a new 3.3 Mtpa concentrator for a total processing capacity of 4.1 Mtpa. A $700 million senior project finance facility has been signed for this expansion. A Preliminary Economic Assessment (PEA) outlines a potential Phase 3 expansion to 10.7 Mtpa processing capacity.

more than 2,000 employees

The Phase 1 concentrator has a milling capacity of 770,000 tonnes per annum (ktpa).

The Phase 1 concentrator has a milling capacity of 770,000 tonnes per annum (ktpa). The concentrator is expected to reach 80% of its capacity by mid-2026. The first concentrate produced is a blend of copper, gold, palladium, platinum, nickel, and rhodium.

The mine utilises mechanised, bulk mining methods such as long-hole stoping and drift-and-fill. Key infrastructure includes Shaft 1 for initial production, Shaft 2 which is being expanded, and Shaft 3 which is expected to be operational by April 2026. The commissioning of Shaft 3 will increase the mine's hoisting capacity five-fold to 5 million tonnes per annum. A 5-megawatt solar power facility was completed in the first quarter of 2025 to support operations.

The Platreef Project is being developed in multiple phases. Phase 1 commenced production in late 2025. Phase 2 expansion is underway and targeted for completion in the fourth quarter of 2027. This will increase processing capacity to 4.1 million tonnes per annum (Mtpa) and is expected to increase annual production to approximately 450,000-460,000 ounces of platinum, palladium, rhodium and gold (3PE+Au), plus around 9,000 tonnes of nickel and 6,000 tonnes of copper. A future Phase 3 expansion is planned, which would further increase processing capacity to 10.7 Mtpa and more than double production to over 1 million ounces of 3PE+Au, approximately 22,000 tonnes of nickel and 13,000 tonnes of copper annually.

Over 6,800 (as of February 2026)

The on-site direct-to-blister smelter began operations in late 2025, which is expected to significantly reduce logistics costs by producing 99.7%-pure copper anodes for export. The smelter will also produce up to 700,000 tonnes of high-strength sulphuric acid per year as a by-product for local sale.

Production overview - 2025: copper 388838 t; 2024: copper 437061 t.

The complex uses a multi-phase concentrator system with a total design processing capacity of 14.2 Mtpa, expected to increase to 19.2 Mtpa. The processing method is flotation. Key equipment suppliers include Metso Outotec, which provided HIGmill regrind mills, Larox PF 60 Series concentrate filters, and TankCell flotation cells. A 500,000-tonne-per-annum direct-to-blister copper smelter, the largest in Africa, commenced heat-up on November 21, 2025, and produced its first copper anodes on January 2, 2026. The smelter incorporates technology from Metso Finland.

The underground mining operations are mechanised, utilising equipment from suppliers such as Epiroc and Sandvik. This includes large-capacity semi-autonomous equipment like Epiroc jumbo drilling rigs and Sandvik 63-tonne dump trucks.

The Phase 3 concentrator reached commercial production in the third quarter of 2024. The Phase 3 expansion includes two new underground mines, Kamoa 1 and Kamoa 2. A 2023 Preliminary Economic Assessment (PEA) projects a nine-year mine life extension to a total of 42 years, which includes the addition of four new underground mines (Kamoa 3, 4, 5 and 6) to maintain an overall production rate of up to 19.2 Mtpa. A new feasibility study is in progress to optimise the mine plan for the first five years.

The Nova Operation is an underground mine located in the Fraser Range of Western Australia, approximately 160km east-northeast of Norseman. It is wholly owned and operated by IGO Limited. The mine commenced commercial production in July 2017 and is expected to reach its end of life in late 2026. The operation consists of two interconnected ore bodies, Nova and Bollinger, which are mined using a combination of room-and-pillar, sub-level open stoping, and longhole stoping methods.

Production overview - 2025: nickel 16371 t, copper 7324 t, cobalt 581 t; 2022: nickel 26675 t, copper 11483 t, cobalt 982 t.

The ore from the Nova Operation is processed on-site through a differential flotation circuit. This method selectively floats copper-bearing minerals before the flotation of nickel. The processing plant produces separate nickel and copper concentrates, with cobalt recovered within the nickel concentrate.

30 to 35 jobs

The project will involve dewatering and rehabilitating an existing 7,000-foot tunnel, extending it by another 4,200 feet, and constructing additional tunnels for exploration. The purpose of the project is to collect data to determine the economic value of the mineralisation and to assess the feasibility of future underground mining operations.

The Kipushi Zinc Mine, originally opened in 1924, restarted operations in mid-2024 after being on care and maintenance since 1993. It is operated by Kipushi Corporation SA (KICO), a joint venture between Ivanhoe Mines Ltd. (68%) and Gécamines (32%). The mine features a new 800,000-tonne-per-annum concentrator, with plans to increase capacity to 960,000 tonnes per annum.

Production overview - 2025: zinc 203168 t; 2024: zinc 50307 t.

New 800,000-tonne-per-annum concentrator (to be debottlenecked to 960,000 tpa) utilising dense media separation, milling, and flotation, targeting 96% recoveries and producing a concentrate with an average grade of 55% zinc.

Basic engineering for a debottlenecking program to increase concentrator processing capacity by 20% to 960,000 tonnes per annum was completed in August 2025. Off-take agreements signed with CITIC Metal, Trafigura, and Mercuria. Financing facilities totalling $170 million arranged.

More than 2,000 employees (2025)

Platreef PGM-Nickel Mine is an underground mine in Limpopo Province, South Africa, operated by Ivanhoe Mines. It commenced production in Q4 2025 and is undergoing a multi-phase expansion to significantly increase output of palladium, platinum, nickel, copper, rhodium, and gold.

The mine officially opened and produced its first concentrate on November 18, 2025. The Phase 1 concentrator began by processing lower-grade development ore and is set to transition to higher-grade production ore in the second quarter of 2026. The first sale of concentrate was made to Northam Platinum in late Q4 2025.

The Phase 1 concentrator has a milling capacity of 770,000 tonnes per annum (ktpa). The total combined processing capacity of the Phase 1 and 2 concentrators will be 4.1 million tonnes per annum (mtpa). The Phase 3 expansion targets a processing capacity of 10.7 mtpa. The processing method involves crushing, milling, and flotation circuits.

The mine utilises shaft access for underground mining. Shaft #1 has an annual hoisting capacity of 2.5 million tonnes. Shaft #3 is scheduled to be operational by April 2026, which will increase the mine's hoisting capacity five-fold to 5 million tonnes per annum. Work on widening Shaft #2 is expected to commence in April 2026. The mining methods are long-hole stoping and drift-and-fill, which are mechanised bulk mining approaches.

The mine is being developed in three phases. Phase 1 commenced production in Q4 2025 and is expected to produce approximately 100,000 ounces of 3PE+Au plus nickel and copper once fully ramped up. Phase 2 expansion is underway, with completion targeted for Q4 2027, increasing annual production to approximately 450,000-460,000 ounces of 3PE+Au, plus over 30 million pounds (approximately 13,600 tonnes) of nickel and copper combined. A future Phase 3 expansion, outlined in a 2025 Preliminary Economic Assessment, would further increase annual production to over 1 million ounces of 3PE+Au, plus approximately 22,000 tonnes of nickel and 13,000 tonnes of copper.

approximately 400 people (2017)

The Nova Operation is an underground mine in the Fraser Range, Western Australia, owned and operated by IGO Limited. In March 2025, IGO announced that the mine is expected to reach its end of life by late 2026. The company is focusing on responsible mine closure, with the submission of a final Mine Closure Plan to the Western Australian government anticipated for mid-2026. IGO's managing director and CEO stated in May 2025 that the company expected to produce a further 15,000-18,000 tonnes of nickel beyond the 2024-2025 financial year.

Production overview - 2025: nickel 16371 t, copper 7324 t, cobalt 581 t; 2024: nickel 20806 t, copper 9922 t, cobalt 735 t.

The processing plant has a capacity of 1.5 million tonnes per year. The process involves crushing and grinding ore, followed by flotation to produce separate copper and nickel concentrates. Tailings are used to create paste fill for backfilling underground stopes.

The underground mining operation uses 60-tonne trucks for hauling ore and waste.

over 2,000 (including employees) attended the opening ceremony in November 2025

The Platreef Project, operated by Ivanhoe Mines, transitioned to production with first concentrate produced in November 2025. Ivanhoe Mines holds a 64% interest in the project.

Phase 1 ramping up 770,000 tpa concentrator in late 2025. Shaft #3 commissioning in April 2026 to increase total hoisting capacity to 5 Mtpa. Phase 2 targets 4.1 Mtpa processing capacity and 450,000-460,000 oz 3PE+Au, plus over 30 Mlbs nickel and copper. Phase 3 aims for 10.7 Mtpa processing and over 1 Moz 3PE+Au, plus approximately 22,000 tonnes nickel and 13,000 tonnes copper.

mill/flotation process to produce a concentrate

Phase 2 expansion is underway, targeting 4.1 Mtpa processing capacity and increased production by Q4 2027. A future Phase 3 expansion to 10.7 Mtpa is being assessed.

The Kinskuch property is located in the Golden Triangle of northwestern British Columbia. It is now part of Dolly Varden's larger Kitsault Valley Project, which covers approximately 77,000 hectares. The acquisition connected the Kitsault Valley, Big Bulk, and Kinskuch projects into a consolidated, district-scale land package. The property is considered underexplored but prospective for silver, gold, and copper mineralisation, situated within the favourable Jurassic-age Hazelton Group volcanic rocks. The addition of the Kinskuch property adds the Illiance trend to Dolly Varden's existing Kitsault Valley trend. The property has a renewed five-year Exploration Permit covering both Nisga'a and Gitanyow Traditional Lands.

Since the acquisition, the Kinskuch property has been integrated into the broader exploration strategy for the Kitsault Valley Project. In 2025, Dolly Varden conducted a significant diamond drilling program across the Kitsault Valley Project, which was expanded from 35,000 metres to over 56,000 metres. While specific drilling targets on the Kinskuch property itself are not detailed in recent announcements, the overall program is focused on resource expansion and exploring new mineralised zones. The Big Bulk property, which is prospective for copper-gold porphyry mineralisation, trends south onto the Kinskuch Project.

IGO Limited has consolidated its ownership to 100% of the central Copper Wolf area, which covers approximately 12.5 square kilometres. A targeted drilling program is planned for the first half of 2027 to inform the next steps for the project. Previous drilling in 2023 confirmed porphyry-style mineralisation. The project is located in a prolific porphyry copper belt.

Approximately 200-400 staff and contractors were understood to be employed at the project in early 2024. This included around 179 people employed by the underground mining contractor Barminco.

The project is at an exploration stage. Encounter Resources Limited holds 100% ownership of the Yeneena Copper Project. IGO Limited has withdrawn from the farm-in and joint venture agreement.

Production overview - 2025: copper 14 kt.

Processing methods are not yet established as the project is in the exploration phase.

Exploration activities involve aircore and diamond drilling rigs.

Encounter Resources is assessing significant technical datasets to refine and prioritise the next phase of exploration. This includes evaluating the potential for depth extensions to the high-grade copper oxide discovery at the Tyrell Prospect (formerly BM1) and drill testing the large copper leakage anomaly at the Haddon prospect (formerly BM5). A 6-hole RC drill program at the BM5 prospect was scheduled for October 2025. Further drill testing of target areas within the Parbo copper system is planned for the 2026 field season.

IGO Limited announced on 30 March 2026 that it had entered into a binding agreement to acquire the remaining 49% joint venture interest in the Copper Wolf Project, giving it 100% ownership. A targeted drilling program is planned for the first half of 2027 to inform the next steps for the project. The project is located in a prolific porphyry copper belt. Previous exploration has confirmed porphyry-style mineralisation. Drilling in 2023 at the Bobcat prospect returned an intersection of 405 metres at 0.35% copper and 0.05% molybdenum. Another drill hole in 2023 returned 83.76 metres at 0.4% copper and 0.06% molybdenum. The project is considered to have potential for a large, mineralised porphyry copper-molybdenum system. Buxton Resources, the previous joint venture partner, was targeting high-grade, underground bulk mineable copper-molybdenum mineralisation. The mineralisation is a Laramide-age porphyry system, largely concealed by a post-mineral sequence of volcanic and sedimentary rocks. The project has not seen any drilling since the early 1990s, prior to the recent exploration campaigns.

Over 6,800 full-time employees, with over 90% being Congolese nationals.

Production overview - 2025: copper 388838 t; 2024: copper 420040 t.

The complex uses Phase 1, 2, and 3 concentrators. The processing method involves flotation, with an average recovery of 87.4% in 2023. A new on-site direct-to-blister flash smelter, the largest in Africa with a capacity of 500,000 tonnes per annum of 99+%-pure blister copper anodes, commenced heat-up on 21 November 2025 and produced its first anodes on 29 December 2025. The smelter is designed to produce high-strength sulphuric acid as a by-product. An initiative, "Project 95", is underway to increase overall metallurgical copper recoveries to 95% by re-treating tailings.

The Phase 3 concentrator achieved its first concentrate production on 10 June 2024 and reached commercial production in the third quarter of 2024. A 2023 Pre-Feasibility Study (PFS) evaluates a staged increase in production to a total of 19.2 Mtpa by 2030. A 2023 Preliminary Economic Assessment (PEA) outlines a nine-year mine life extension to the 33 years defined in the PFS, through the development of four new underground mines (Kamoa 3, 4, 5 and 6). An updated technical report in March 2026 supports a ramp-up of production to over 500,000 tonnes of copper per annum from 2028 onwards.