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A fire reported in August in the second egress of the No. 2 shaft at Hecla Mining\u2019s Lucky Friday silver operation in Idaho has been extinguished, though the company has confirmed it will suspend production for the remainder of 2023.<\/p>\n\n\n\n
Hecla said in an update report that, post-fire, normal ventilation has been established, and the workforce has been recalled so work can begin on a new secondary egress that will bypass the damaged shaft. That new egress is projected to extend an existing ramp by 1,600 feet, and it will include a 290-foot-long manway raise.<\/p>\n\n\n\n
As a result of the work, Lucky Friday will likely remain idled through the remainder of the year. The mine produced 3 million ounces as of the end of July 2023; currently, Hecla does not expect a material change to its 2024 consolidated silver production guidance.<\/p>\n\n\n\n
\u201cThe company has property insurance with an underground sub-limit of $50 million and believes this policy will cover most of the property damage and business interruption, less the deductible,\u201d officials said of the outlook.<\/p>\n\n\n\n
Hecla is the largest silver miner in the U.S. Lucky Friday, located in the Coeur d\u2019Alene Mining District, is one of the top seven primary silver mines in the world.<\/p>\n\n\n\n