U.S. Forest Service approves Hecla’s Libby copper-silver exploration

COEUR D’ALENE, Idaho - Hecla Mining Company (NYSE:HL), which has seen its stock surge over 164% in the past six months according to InvestingPro data, announced Monday that the U.S. Forest Service has issued a final decision notice and finding of no significant impact for its Libby Exploration Project in Lincoln County, Montana.

The approval advances exploration of what the company describes as a significant copper and silver deposit. According to Hecla, which reported robust revenue growth of 36.3% in the last twelve months, the project currently has an inferred resource of 112.2 million tons grading 0.7% copper and 1.6 ounces per ton silver, containing over 1.5 billion pounds of copper and 183 million ounces of silver.

"We are pleased to see the U.S. Forest Service advance the Libby Project, and we are grateful the FAST-41 process helped move this important project forward efficiently," said Rob Krcmarov, President and CEO of Hecla, in a press release statement.

The exploration phase aims to gather geological, hydrological, and environmental data to evaluate the deposit’s potential. Mineralization reportedly remains open in multiple directions, suggesting possibilities for resource expansion.

U.S. Senator Steve Daines supported the decision, noting the project "will provide good-paying Montana mining jobs without harming our beautiful lands." Daines had previously urged approval in a February 2025 letter to the Forest Service.

Hecla indicated it is open to bringing in a strategic partner for the exploration phase while maintaining its economic exposure to the silver resources.

The company, which describes itself as the largest silver producer in the United States and Canada, operates mines in Alaska, Idaho, and Quebec, with additional development projects across North America. InvestingPro analysis shows Hecla maintains strong financial health with a current ratio of 2.67 and moderate debt levels, though current trading levels suggest the stock may be overvalued relative to its Fair Value. For deeper insights into Hecla’s financial metrics and growth potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

The Libby Project represents part of Hecla’s broader portfolio of mining operations and exploration projects throughout North America, according to information provided in the company announcement.

In other recent news, Hecla Mining Company reported impressive second-quarter 2025 earnings, exceeding expectations with an earnings per share (EPS) of $0.09, compared to the forecasted $0.05. Revenue also surpassed estimates, reaching $304 million against the anticipated $253.57 million. This positive financial performance has caught the attention of investors. Meanwhile, Roth/MKM downgraded Hecla Mining from Neutral to Sell, despite raising its price target from $6.50 to $8.75, due to concerns about potential production declines at the Casa Berardi mine and risks at the Keno Hill operation. In contrast, S&P Global Ratings revised its outlook on Hecla Mining to positive from stable, highlighting the company’s significant debt reduction. This reduction has provided Hecla with a robust credit cushion to manage possible earnings declines due to unfavorable gold and silver price movements. These developments reflect a mixed sentiment among analysts and rating agencies regarding Hecla Mining’s future performance.

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