Hecla Mining Company Inc. (NASDAQ: HL) stock soars by 20.96% during pre-market trading session. Hecla Mining Company, established in 1891, is the biggest silver producer in the United States. Hecla Mining operates a number of exploration interests and pre-development facilities in world-class silver and gold mining districts in North America, in addition to running mines in Alaska, Idaho, and Quebec, Canada.
What is happening?
HL published its 2020 Sustainability Report on May 14, 2021, which summarizes HL’s environmental, social, and governance (ESG) priorities, results, and focus areas.
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- HL achieved a 36% reduction in greenhouse gas (GHG) emissions from 2019.
- Hecla Mining Company has met or exceeded its multi-year 5% energy savings target, with hydropower accounting for 76% of line capacity.
- Prior to COVID-19 being declared a pandemic, mobilizing and organizing operations to secure their workforce’s health and welfare, as well as assisting with community needs such as fuel, equipment, and financial assistance.
- Lowering the 2020 All-Injury Frequency Rate by 24% to 1.22, a decrease of 80% since 2012.
- Finishing the 300-acre Troy Tailings Storage Facility’s reclamation. As a result, Montana’s mandatory financial assurance was reduced by nearly $8 million.
- Endorsing and issuing a human rights policy declaration that reaffirms our commitment to human rights protection.
- Increasing diversity by hiring a new director with experience in risk management, environmental sustainability, and mining.
- Hecla Quebec and the Council of the Abitibiwinni First Nation (CAFN) signed a Cooperation Agreement that guarantees CAFN jobs and business opportunities.
Hecla President and CEO Phillips S. Baker, Jr. commented:
Small Footprint, Big Benefit is the focus and title of this year’s paper. Since the activities are low-tonnage and mainly underground, they have a direct impact of less than 3,900 acres, which is less than many other mining companies’ single operations. Nonetheless, they are constantly working to reduce their environmental impact while also delivering long-term economic and social support to the communities in which they function.