Statement from Minister Ranj Pillai on Hecla Mining Company’s acquisition of Alexco Resource Corporation

Minister of Economic Development Ranj Pillai has issued the following statement:

"On September 7, 2022, Hecla Mining Company announced it had completed its acquisition of Alexco Resource Corporation.

"Alexco Resource Corporation operates in the historic Keno Hill Silver District, known as one of the highest-grade silver deposits in the world. This acquisition will provide the potential for Hecla, known as the largest silver producer in the United States, to be the largest silver producer in Canada. The company has a proven track record with operating mines in Alaska, Idaho and Quebec.

"Silver is a critical element to decarbonize the economy and the need for domestic supply is growing. The Keno Hill Silver District creates the opportunity for a robust company like Hecla to further meet this need with a secure high-grade silver development and an exploration project that has a small environmental footprint. 

"Congratulations and welcome to Hecla Mining Company on this significant acquisition."