Greens Creek owner to acquire mineral company

Hecla Mining Company, which operates mines out of Alaska including the Greens Creek Mine near Juneau, announced Tuesday it will acquire the mineral group Mines Management, Inc.

The merger is expected to close in the third quarter of this year and is still subject to approval by Mines Management shareholders and other closing conditions, according to a statement Hecla released Tuesday.

In the proposed merger, each outstanding common share of Mines Management will be exchanged for 0.2218 of a common share of Hecla. That represents a 41 percent premium to Mines Management, using both companies’ 10-day Volume Weighted Average Price as of May 20.

Following the merger, Hecla officials intend to continue work at a mine in Montanore, Montana, currently wholly owned by Mines Management’s. Hecla officials state it is an undeveloped area for silver and copper mining in North America. The project is approximately 10 miles from Hecla’s Rock Creek project and 50 miles north of Hecla’s Lucky Friday Mine in Idaho.

Hecla, founded in 1891, is a U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a gold producer in Quebec.

More in News

Jasmine Chavez, a crew member aboard the Quantum of the Seas cruise ship, waves to her family during a cell phone conversation after disembarking from the ship at Marine Park on May 10. (Mark Sabbatini / Juneau Empire file photo)
Ships in port for the week of July 20

Here’s what to expect this week.

A U.S. Coast Guard Air Station Sitka helicopter hovers over Sitka Sound during routine hoist training. (U.S. Coast Guard Photo by Lt. Cmdr Wryan Webb)
Yakutat-bound charter flight missing from Juneau

Flight departed from Juneau on Saturday with three people aboard, according to U.S. Coast Guard.

President Biden at the White House on July 3. (Doug Mills/The New York Times)
President Joe Biden drops out of race, scrambling the campaign for the White House

Withdraws under pressure from fellow Democrats; endorses Vice President Kamala Harris to take on Trump.

(Michael Penn / Juneau Empire file photo)
Police calls for Thursday, July 18, 2024

This report contains public information from law enforcement and public safety agencies.

Buttons on display at a campaign event Monday, July 8, 2024, in Juneau, urge supporters to vote against Ballot Measure 2, the repeal of Alaska’s current election system. (James Brooks/Alaska Beacon)
Ranked-choice repeal measure awaits signature count after Alaska judge’s ruling

Signatures must be recounted after judge disqualifies almost 3,000 names, citing state law violations.

The offices of the Alaska Department of Labor and Workforce Development in Juneau are seen on Thursday, Oct. 26, 2023. (James Brooks/Alaska Beacon)
Alaska demographers predict population drop, a switch from prior forecasts

For decades, state officials have forecast major population rises, but those haven’t come to pass.

Neil Steininger, former director of the state Office of Management and Budget, testifies before the House Finance Committee at the Alaska State Capitol in January of 2023. (Mark Sabbatini / Juneau Empire file photo)
Neil Steininger, former budget director for Gov. Dunleavy, seeking District 1 Juneau Assembly seat

Downtown resident unopposed so far for open seat; deadline to file for local races is Monday.

A mother bear and a cub try to get into a trash can on a downtown street on July 2, 2024. Two male bears were euthanized in a different part of downtown Juneau on Wednesday because they were acting aggressively near garbage cans, according to the Alaska Department of Fish and Game. (Mark Sabbatini / Juneau Empire file photo)
Two black bears in downtown Juneau euthanized due to aggressive behavior around people

Exposed garbage, people insistent on approaching bears contribute to situation, official says

Most Read