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COEUR D'ALENE, Idaho, Jun 13, 2011
(BUSINESS WIRE) -- Hecla Mining Company ("Hecla")(NYSE:HL) is pleased to report that the
Consent Decree, which includes final settlement terms, was lodged today with
the U.S. District Court in Idaho. The Consent Decree among Hecla, the United
States, the Coeur d'Alene Indian Tribe, and the State of Idaho, settles the
environmental litigation and related claims pertaining to historic releases
of mining wastes in the Coeur d'Alene Basin. The Consent Decree has the same
monetary terms that were previously disclosed.
"We
are encouraged by the lodging of the Consent Decree and continued cooperation
by all related parties to resolve this longstanding litigation," said
Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr.
"We expect the settlement to be finalized and effective in the third
quarter 2011."
Following
publication in the Federal Register, the Consent Decree is subject to a
30-day public comment period as well as final Court approval.
For
more information on the terms of settlement contained in the Consent Decree,
please see our 2011 SEC filings at www.sec.gov.
ABOUT
HECLA
Established
in 1891, Hecla Mining Company is the largest and lowest cash cost silver
producer in the U.S. The company has two operating mines and exploration
properties in four world-class silver mining districts in the U.S. and
Mexico.
Cautionary
Statements
Statements
made which are not historical facts, such as anticipated payments, litigation
outcome (including settlement negotiations), production, sales of assets,
exploration results and plans, costs, and prices or sales performance are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, and involve a number of risks and
uncertainties that could cause actual results to differ materially from those
projected, anticipated, expected or implied. These risks and uncertainties
include, but are not limited to, metals price volatility, volatility of
metals production and costs, environmental and litigation risks, operating
risks, project development risks, political risks, labor issues, ability to
raise financing and exploration risks and results. Refer to the company's
Form 10-K and 10-Q reports for a more detailed discussion of factors that may
impact expected future results. The company undertakes no obligation and has
no intention of updating forward-looking statements other than as may be
required by law.
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