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two employees

The Fire Creek Mine, operated by Hecla Mining Company, is currently on care and maintenance, a status enacted in Q2 2021 after processing remaining non-refractory ore. As of 2024, it has a workforce of two employees. Hecla is conducting a strategic review of its Nevada portfolio, including Fire Creek, in 2025 to re-rank priorities, with a significantly increased 2026 exploration budget following positive results. Updated mineral resource estimates were reported as of 31 December 2023.

The Aurora mine is currently on care and maintenance. The primary focus is on the Polaris Exploration Project, located in the historic Aurora Mining District in Mineral County, Nevada. Hecla Mining Company, through its wholly-owned subsidiary Klondex Aurora Mine, Inc., has secured all major federal and state permits to commence a significant exploration program in 2026, targeting multiple high-grade epithermal vein systems.

Existing infrastructure at the site includes a 600-tonne-per-day mill.

Hecla Mining Company has received a Finding of No Significant Impact and Decision Notice from the U.S. Forest Service for the Polaris Exploration Project, allowing a significant exploration program to commence in 2026. The Federal Permitting Improvement Steering Council announced in March 2026 that the project had completed its federal permitting process. The exploration will be conducted in the Aurora Mining District in Mineral County, approximately 18 miles west-southwest of Hawthorne, Nevada. The program will test multiple high-grade epithermal vein systems, with near-surface targets including Martinez, Juniata, and Ann, and deeper targets at Brawley Peak, Sawtooth Ridge, and Polaris. The approved plan allows for exploration activities on up to 150 acres, including the construction of up to 25 miles of roads and up to 250 drill sites.

277 employees

The Keno Hill mine, located in Canada's Yukon Territory, is an active underground mining operation. Hecla Mining Company holds 100% ownership of the project, which it acquired in September 2022. The mine is situated within the traditional territory of the First Nation of Na-Cho Nyak Dun. In 2025, Keno Hill achieved its first full year of profitability and generated positive free cash flow. The mine produces silver, lead, and zinc concentrates. The property is fully permitted and includes five deposits: Bellekeno, Lucky Queen, Flame & Moth, Onek, and Bermingham. Exploration is a primary focus, with drilling testing vein intersections northeast of the Deep Bermingham ore body and continued resource expansion in the Bermingham Bear Zone. Management anticipates an additional 50 million ounces of silver potential at Keno Hill. In 2025, a subsidiary of Hecla received a written warning from the Yukon government for exceeding zinc limits in its water licence effluent quality standards.

Production overview - 2025: silver 93.93257000000001 t, lead 3630 t, zinc 2240 t; 2024: silver 2800000 oz.

The mine has infrastructure that includes a 400 tonne per day mill. The company is working towards a permitted throughput of 440 tons per day. A phased approach to throughput optimisation is being implemented, with a goal of expanding capacity to 600 t/d. The process involves crushing and grinding the ore, followed by flotation to produce silver, lead, and zinc concentrates.

Excavator (1), Loader (3), Skid Steer (2)

444 in 2025, 431 in 2024, 362 in January 2022

Production overview - 2025: silver 5.3 Moz; 2024: silver 4.9 Moz, lead 28395 t, zinc 12247 t.

The mine has a full surface facility with a mill that can process 1,000 tons of ore per day. It is a conventional silver and zinc flotation concentrator that produces silver-lead and zinc concentrates, which are shipped by truck to a smelter in Trail, British Columbia, Canada.

The mine uses rubber-tired, diesel-powered mobile equipment, including single or two-boom jumbos for drilling and 1- to 3-cubic-yard load-haul-dump (LHD) units. The #4 Shaft, reaching 9,600 feet below the surface, features a fully-automated 200 ton per hour material handling system.

A major capital investment is underway for a surface cooling project, expected to be completed by mid-2026, critical for increasing designed cooling capacity. The investment also covers underground development and a new tailings facility. The #4 Shaft project is a key growth project providing access to the highest-grade ore in the mine's history, located in the Gold Hunter/Lucky Friday Expansion Area, expected to support an additional 20-30 years of mine life. In 2024, exploration drilling was planned to the east of the 30 Vein.

512

Production overview - 2025: silver 8700000 oz, gold 59349 oz, lead 18200 t, zinc 51300 t; 2024: silver 8500000 oz, gold 55275 oz, lead 18320 t, zinc 51500 t.

The mill processes about 2,300 tons of ore each day. Ore is ground to less than 50 micrometres. The mine uses flotation and gravity processes to recover the metals. In 2024, 46% of tailings were reused as backfill.

The primary mining methods are cut-and-fill and longhole stoping.

Hecla is studying the economic potential of recovering and re-processing critical minerals from the mine's tailings, which include silver, gold, zinc, lead, copper, nickel, arsenic, barium, bismuth, cadmium, chromium, gallium, germanium, manganese, and vanadium. The company plans to increase throughput to 2,600 tons per day.

It is estimated that there will be a workforce of between 400 and 600 mine personnel throughout production.

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

The mine has a new concentrator with an initial capacity of 800,000 tonnes per annum. A debottlenecking program completed in August 2025 increased the processing capacity by 20% to 960,000 tonnes per annum. The plant incorporates dense media separation, milling, and flotation.

The mine was on care and maintenance from 1993 and officially restarted production in 2024. Construction of the 800,000-tonne-per-annum concentrator was completed in May 2024. A debottlenecking program to increase the concentrator's processing capacity to 960,000 tonnes per annum commenced in September 2024 and was completed ahead of schedule in August 2025.

The Platreef Mine officially opened and produced its first concentrate on November 18, 2025. The first sale of this concentrate was completed to Northam Platinum in late Q4 2025. The mine is currently in Phase 1 of a multi-phased development. The Phase 1 concentrator is ramping up, initially processing lower-grade development ore, with the expectation to reach 80% of its nameplate capacity by mid-2026.

As the mine commenced operations in late 2025, no official annual production figures for grades and outputs have been released for that year. The initial feed for the concentrator consists of lower-grade development ore.

The Phase 1 concentrator has a milling capacity of 770,000 tonnes per annum. The main mining methods will be longhole stoping and drift-and-fill. Underground development is advancing on the 750-metre and 850-metre levels.

The mine has taken delivery of battery-electric underground equipment, including an ST14 scooptram and a Manitou MHTX 790 telehandler.

A significant, multi-phase expansion is underway. The completion of Shaft #3, expected by April 2026, will increase the mine's hoisting capacity five-fold to 5 million tonnes per annum, which will support both Phase 1 and the subsequent Phase 2 expansion. The Phase 2 expansion is targeted for completion in Q4 2027 and is expected to increase annual production to approximately 450,000 ounces of platinum, palladium, rhodium, and gold (3PE+Au), plus over 30 million pounds of nickel and copper. A future Phase 3 expansion is planned to further double annual production to over 1 million ounces of 3PE+Au.

6,800 (as of February 2026)

Production overview - 2024: copper 437061 t; 2023: copper 393551 t.

The complex utilises a flotation process to produce copper concentrate. A new on-site direct-to-blister flash smelter with a capacity of 500,000 tonnes of copper concentrate per annum has been constructed to produce blister copper and copper anodes with a purity of over 99%. The smelter also produces sulphuric acid as a by-product.

The Phase 1 concentrator began commercial production on July 1, 2021. The Phase 2 concentrator was commissioned in April 2022. The Phase 3 concentrator achieved commercial production in the third quarter of 2024. A 500,000-tonne-per-annum on-site, direct-to-blister copper smelter, the largest in Africa, commenced heat-up in late 2025 with first anode production in December 2025. The smelter is expected to significantly reduce logistics costs. The 2023 Pre-Feasibility study evaluates a staged increase in production capacity up to a total of 19.2 Mtpa by 2030.

The project is located in a prolific porphyry copper belt, and previous exploration has confirmed porphyry-style mineralisation. Historical drilling in 2023 at the Bobcat prospect returned an intersection of 405 metres at 0.35% copper and 0.05% molybdenum. The acquisition is aligned with IGO's growth strategy to discover, develop, and deliver battery minerals.

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 from Buxton Resources. This move consolidates IGO's ownership to 100% of the central project area, which covers approximately 12.5 square kilometres and includes the Bobcat and Rattler prospects. The existing earn-in and joint venture arrangements with Buxton will be terminated upon completion of the transaction.

The Kwinana Refinery is Australia's first fully automated lithium hydroxide processing plant, designed to process spodumene concentrate from the Greenbushes mine. The refinery is 100% owned by Tianqi Lithium Energy Australia (TLEA), a joint venture between Tianqi Lithium Corporation (51%) and IGO Limited (49%). The facility has faced persistent operational challenges and has operated well below its nameplate capacity. IGO has fully impaired its 49% stake in the refinery, stating it sees no viable pathway for the asset and is discussing the optimal future for Train 1 with its joint venture partner, Tianqi. Tianqi, however, has indicated it has no plans to suspend the refinery. The refinery's operating licence was renewed in early 2026 despite numerous community complaints regarding dust and odours. First battery-grade lithium hydroxide was produced in May 2022, and production commenced in the December quarter of 2022.

Production overview - 2025: lithium 6782 t.

The refinery processes spodumene concentrate into battery-grade lithium hydroxide. Train 1 has a nameplate capacity of 24,000 tonnes per annum of lithium hydroxide. The plant has struggled to ramp up, achieving 35% of nameplate capacity in the June 2025 quarter and 46% in the September 2025 quarter.

In January 2025, the TLEA shareholders, IGO and Tianqi Lithium Corporation, agreed to cease all work and activities on the second production train (Train 2).

Nearly 295,000 tonnes of Odysseus ore were processed between November 2023 and May 2024.

The mine consists of two underground ore deposits, Bollinger and Nova. Product is transported from the mine by truck in closed containers to the Port of Esperance for export by sea.

Production overview - 2025: nickel 16371 t, copper 7324 t, cobalt 581 t; 2023: nickel 22915 t, copper 10266 t, cobalt 803 t.

The Nova Project has a processing plant. A Reverse Osmosis Plant is also on site.

The site includes a heavy vehicle washbay, an underground fuel bay, and a workshop for servicing CAT excavators and loaders.

The Kwinana refinery has experienced significant operational challenges since producing its first hydroxide in 2021. Commercial production from the first processing train (Train 1) was officially declared on 30 November 2022. The facility has consistently operated below its nameplate capacity of 24,000 tonnes per year.

Production overview - 2025: lithium 6782 t; 2024: lithium 2775 t.

first processing train (Train 1)

In January 2025, the joint venture partners agreed to cease all work and activities on the proposed second processing train (Lithium Hydroxide Plant 2).

more than 1,500 people

Production overview - 2024: lithium 1383000 t; 2023: lithium 1491000 t.

The Greenbushes operation consists of a large open-pit mine and four processing plants. This includes a technical grade plant, two chemical grade plants (CGP1 and CGP2), and a tailings retreatment plant. A third chemical grade plant (CGP3) processed its first ore in December 2025. The processing method involves crushing and upgrading the spodumene ore through gravity, heavy media, flotation, and magnetic processes to produce lithium concentrates.

The major mining fleet includes Hitachi excavators (EX3600, EX2600, EX1200) and Caterpillar 785 (140-tonne) rear dump trucks. The processing facilities also utilise jaw crushers, impact crushers, and screeners.

Chemical Grade Plant 3 (CGP3) commenced commissioning on schedule, with the first ore feed through the plant on 18 December 2025. An underground mining operation is being considered to supplement the open pit production.

The Cosmos Project, located 30km north of Leinster, Western Australia, is 100% owned by IGO Limited. Acquired in 2022, its primary focus was the Odysseus underground mine for nickel and cobalt concentrate. Due to reduced mine life, delays, and increased costs, the project transitioned to care and maintenance by May 31, 2024. As of early 2026, IGO is preserving assets and assessing exploration programs for mineral resource increase, particularly AM5 and AM6 orebodies, and reviewing gold opportunities.

The refurbished Cosmos concentrator, with a capacity of 1.1 Mtpa, operated from November 2023 to May 2024, processing nearly 295,000 tonnes of Odysseus ore. The upgraded circuit includes new primary, secondary, and tertiary crushing and screening, a new primary mill, refurbished secondary and regrind mills, new and refurbished flotation cells, and new thickeners and filters.

This project was transitioned into care and maintenance in June 2024.

The Forrestania Operation consists of the Flying Fox and Spotted Quoll underground mines and the Cosmic Boy processing facility. Production ceased in September 2024, and the operation was sold to Medallion Metals Limited on March 2, 2026. IGO Limited acquired the operation in 2022 as part of its acquisition of Western Areas Limited.

Cosmic Boy processing plant

In 2017, the fly-in-fly-out operation employed approximately 400 people, combining IGO direct employees and contractors.

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

The operation has a processing facility that produces saleable nickel, copper, and cobalt concentrates.

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 approximately 23 miles south of Libby in Lincoln County, Montana. The project is a stratabound, sediment-hosted silver and copper deposit. The current focus of the project is on underground exploration and evaluation to gather data that will inform project engineering, environmental requirements, and overall feasibility.

dewatering and rehabilitating about 7,000 feet of the existing Libby Adit (an underground tunnel), extending it by nearly a mile, and constructing additional lateral shafts for mineral exploration from underground drill stations

In October 2025, the U.S. Forest Service issued a final decision approving Hecla's Plan of Operations for the Libby Exploration Project, allowing exploration and data collection to proceed. This exploration phase is expected to take 16 years. Following the exploration, the project would be closed and reclaimed over a three-year period, unless Hecla decides to pursue full-scale mining, which would require a new plan of operations and a public permitting process. As of early 2026, Hecla is in the process of obtaining a new water discharge permit from the Montana Department of Environmental Quality to support further exploration and development activities, with the permit expected in 2026.

The Kinskuch Property is an exploration-stage project located in the Golden Triangle of British Columbia. On 26 May 2025, Dolly Varden Silver Corporation completed the acquisition of a 100 per cent interest in the property from Hecla Mining Company. Hecla Mining retains a 2 per cent net smelter return royalty, with Dolly Varden holding a right to buy back half of the royalty for $5 million to reduce it to 1 per cent. The property is now part of Dolly Varden's larger Kitsault Valley Project, which increased to approximately 77,000 hectares following the acquisition. The Kinskuch Property is considered prospective for silver, gold, and copper mineralisation. A five-year Exploration Permit for the property was recently renewed. The property includes the past-producing Esperanza Mine and the underexplored Illiance Trend.

The Hollister mine is located in Elko County, Nevada. Hecla Mining Company acquired the mine in July 2018. Production at the mine was suspended in the third quarter of 2019. As of early 2026, the Hollister mine, as part of Hecla's Nevada Operations, remains on care and maintenance.

Production overview - 2025: gold 4.405665608848 t, silver 38.93049545056 t.

Hecla's exploration efforts in Nevada are focused on several projects, including those at the Hollister property. The company's 2026 exploration and pre-development budget for its portfolio is approximately $55 million.

The Fire Creek mine, located in Lander County, Nevada, is an underground gold and silver mine wholly owned by Hecla Mining Company. As of the second quarter of 2021, the mine has been placed on care and maintenance. Production at the mine continued through the first half of 2021, with revenues exceeding total capital and production costs for both 2020 and 2021. Hecla Mining is conducting studies on the hydrology, mining, and milling at the site and anticipates incurring care-and-maintenance costs until exploration success and development justify a restart of operations. The Fire Creek deposit is characterised as a low-sulfidation epithermal system with dual mineralisation types: high-grade quartz-carbonate epithermal veins and structurally controlled refractory sulfide mineralisation. The mine is part of Hecla's broader Nevada operations, which are considered a high-impact development project with significant unexplored potential.

Ore from Fire Creek was processed at the nearby Midas mill. The processing of non-refractory ore involved grinding, gravity concentration, cyanidation, CCD (counter-current decantation), and Merrill-Crowe precipitation. Hecla has also investigated the processing of Fire Creek's refractory ore at third-party facilities.

Sandvik Jumbo Drill (4 units)

The Aurora mine in Mineral County, Nevada, is an exploration project owned 100% by Hecla Mining Company. The Polaris Exploration Project at the site received approval for exploration activities to begin in 2026, focusing on epithermal vein systems. The district has a history of high-grade gold and silver production, and existing infrastructure includes a 600 tpd mill.

600 tpd mill

Polaris Exploration Project approved for 2026 exploration activities.

Production overview - 2025: silver 3020000 oz, lead 3.63 kt, zinc 2.24 kt.

Fully permitted processing facility with a 400 tonne per day mill. Infrastructure includes an on-site camp, all-season highway access, and a connection to the Yukon Energy hydropower grid.

Initial underground mining fleet included two Caterpillar R1300 LHDs, two Cat AD22 haul trucks, two Epiroc 282 twin boom jumbos, and two MacLean SSB bolters.

Hecla is focused on exploration to expand mineral resources. The 2026 exploration and pre-development budget for Hecla, including Keno Hill, is approximately $55 million. Ongoing underground expansion and resource conversion, particularly in the Bermingham Bear Zone. Capital expenditure in 2026 for mine development and infrastructure projects, including a waste storage facility and a water treatment plant.

second-largest private employer in Shoshone County, Idaho; 90% of 2024 new hires from local communities

Production overview - 2024: silver 4.9 Moz, lead 31300 t, zinc 13500 t; 2023: silver 3.1 Moz.

full surface facility with a 1,000 tons of ore per day mill that produces silver-lead and zinc concentrates through a process of crushing, grinding, flotation, and dewatering. Concentrates are then shipped by truck to a smelter in Trail, British Columbia, Canada. A new chiller system was installed in 2024 to improve water recycling.

mechanised jumbo drills and truck haulage

#4 Shaft project, an internal shaft reaching 9,600 feet below the surface, provides access to the high-grade ore in the Gold Hunter/Lucky Friday Expansion Area. Hecla plans to invest up to $73 million in the operation, which includes underground development, a new tailings facility, and a surface cooling project expected to be completed by mid-2026. In 2024, exploration drilling is planned to the east of the 30 Vein.