Hecla Mining Company (NYSE:HL) has announced its preliminary metals production for the fourth quarter and full year of 2025, and provided 2026 guidance. The company's silver production of 17.0 million ounces exceeded 2024 production by over 5% and came in at the top end of consolidated silver production guidance. All silver operations met production guidance, with Lucky Friday producing 5.3 million ounces and exceeding the top end of its guidance range. Consolidated gold production of 150,509 ounces exceeded the top end of the gold guidance of 150,000 gold ounces.
In 2026, Hecla Mining Company expects consolidated silver production to be in the range of 15.1-16.5 million ounces, and consolidated gold production to be in the range of 134-146 thousand ounces. The company plans to invest $55 million in exploration and pre-development in 2026, nearly double the investment during 2025.
The fiscal year 2025 saw Greens Creek producing 8.7 million ounces of silver and 59,349 ounces of gold, an increase of 3% and 7% respectively compared to 2024. Lucky Friday produced 5.3 million ounces of silver in 2025, an increase of 8% over 2024. Keno Hill produced 3.02 million ounces of silver, an increase of 9% compared to 2024. Casa Berardi produced 91,160 ounces of gold in 2025, an increase of 5% compared to 2024.
Looking ahead, the company expects consolidated silver total cost of sales to be $471 million, with silver cash costs of ($1.50)-($1.25) per ounce and AISC of $15.00-$16.25 per ounce. The total capital investment (sustaining and growth) is guided to be $255-$279 million in 2026, expected to be up modestly from the prior year.
Hecla Mining Company's President and CEO, Rob Krcmarov, stated, "Our 2025 results demonstrate operational excellence, with 17.0 million ounces of silver production and every primary silver operation meeting or exceeding guidance. We're now accelerating investments in our future—nearly doubling our investment in exploration and pre-development to a record $55 million—while maintaining the financial discipline that positions us to generate substantial free cash flow. This is how North America's premier silver producer creates long-term shareholder value."
The company expects metal prices and FX rate assumptions for 2026 to include gold at $4,000/oz, silver at $50.00/oz, zinc at $1.30/lb, and lead at $0.90/lb, for by-product credit calculations.
Hecla Mining Company, founded in 1891, is the largest silver producer in the United States and Canada. It operates mines in Alaska, Idaho, and Quebec, Canada, and is developing a mine in the Yukon, Canada, while also owning a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America. As a result of these announcements, the company's shares have moved 5.23% on the market, and are now trading at a price of $26.54. For more information, read the company's full 8-K submission here.
