Southeast Alaska’s metals mines performing well
Two producing metals mines in Southeast Alaska are performing well, the mine owners and operators re- ported to financial analysts in August. The Greens Creek Mine, on Admi - ralty Island west of Juneau, is one of the largest and lowest-cost primary silver mines in the world and is the cash generating engine of the compa- ny, Hecla said a statement. Hecla Greens Creek Mine, a sub - sidiary of Idaho-based Hecla Mining Co., reported gross profits of $32.7 million in the year’s second quarter, down somewhat from $36.4 million in the first quarter. “The decline in cash flow from operations was primarily due to low- er metals prices and increased costs due to inflation,” the company told analysts in its briefing on the second quarter.
Ore grades were slightly better in the second quarter, Hecla said, lead- ing to higher metals recovery despite a small drop in ore produced and processed. Greens Creek produced 2.4 million ounces of silver, about the same first quarter, but zinc, gold and lead production was higher. The company spent $14.7 million in capital projects during the quarter. In 2021, Greens Creek produced 9.2 million ounces of silver at an all- in sustaining Cost, after by-product credits, per silver ounce of $3.19), and 48,088 ounces of gold. Production in 2022 is expected to be 8.6 million to 8.9 million ounces of silver. Greens Creek spends roughly $75 million annually on goods and services statewide and $58.4 million with Juneau-area businesses. The mine pays approximately Remote Locations Mineral Exploration Grade Control Monitoring and Piezometer wells Dewatering Wells Geotechnical
$70 million in annual payroll in the Juneau area and $2.6 million in prop- erty and sales taxes to the City and Borough of Juneau. Greens Creek mine employees average $122.800 per year in salary and wages, the compa- ny reported. At the Kensington Mine on Berners Bay north of Juneau gold production increased 23 percent to 27,866 ounces in the second quarter compared with 22,646 ounces in the first quarter. “Higher production during the peri- od was driven by an increase in mill throughput to a quarterly record high due to increased efficiencies at the mill as higher average gold grades,” in ore produced, Coeur Mining Inc., the mine owner and operator, told analysts in its second quarter briefing.
— Tim Bradner
406-626-1968 Tjoffice@tjenterprises.us www.tjenterprises.us
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The Alaska Miner
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