By Shane Lasley
Mining News
Silver miner prevails in survival battle
Hecla emerges from 'near-death' purchase of Greens Creek Mine to post record revenues, profit from acquisition of stellar asset
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Last updated 11/22/2009 at Noon
Hecla Mining Co. has repaid the US$380 million it borrowed to buy out Rio Tinto plc's 70.3 percent interest in the Greens Creek Mine. The purchase, which gave the Idaho-based miner 100 percent interest in the Southeast Alaska silver mine, nearly proved to be the company's undoing.
"It was frankly a near-death experience for the company," Hecla Vice President of Corporate Development Don Poirier...
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