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By Shane Lasley
Mining News 

Hecla gets extension for bridge loan

Bank accepts mine plan and gives silver miner more time to repay $40 million short-term obligation from Greens Creek purchase


Last updated 12/28/2008 at Noon

Hecla Mining Co. now has until Feb. to pay off the remaining balance on the $240 million bridge loan it took out to purchase Rio Tinto's 70.27 percent of the Greens Creek Mine near Juneau, Alaska.

In April, the Coeur D'Alene-based silver miner agreed to pay $750 million ($700 million in cash and $50 million in Hecla common stock) to its Greens Creek partner, Rio Tinto, for 100 percent ownershi...

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