Hecla Mining’s Revenue Breakdown by Segment (2016-2021)

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This statistic highlights Hecla Mining’s Revenue Breakdown by Segment from Q1 2016 onwards, split across Casa Beradi, Greens Creek, Lucky Friday, Nevada Operations, and San Sebastian segments.
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This statistic highlights Hecla Mining’s Revenue Breakdown by Segment from Q1 2016 onwards, split across Casa Beradi, Greens Creek, Lucky Friday, Nevada Operations, and San Sebastian on a quarterly basis.

Revenue Breakdown by Segment:

Segments Q3 2020 Q2 2021 Q3 2021 Revenue Contribution in Q3 2021
Casa Beradi $53.554 $56.122 $56.065 28.97%
Greens creek $93.494 $113.763 $84.806 43.81%
Lucky Friday $20.812 $39.645 $29.783 15.39%
Nevada Operation $22.705 $8.450 $22.906 11.83%
San Sebastian $9.138 $0.003 0.00%
Total $199.703 $217.983 $193.560 100.00%

(all figures in million, except percentages)

Hecla Mining’s total revenue decreased from $199.70 million in Q3 2020 to $193.50 million in Q3 2021, indicating a 3.08% decline on a year-on-year basis. The revenue in Q3 2021 declined by 11.20% i.e. from $217.98 million in Q2 2021 to $193.56 million in Q3 2021. 

Hecla Mining generates revenue from the following segments:

Casa Beradi:

In 2013, as a result of the acquisition of Aurizon, the company acquired the Casa Berardi operation, located 95 kilometers north of La Sarre in the Abitibi Region of northwestern Quebec, Canada. The property covers parts of Casa Berardi, Dieppe, Raymond, D’Estrees, and Puiseaux townships; it also borders Ontario to the west. 

Hecla Mining’s revenue from Casa Beradi increased by 4.69% from $53.554 million in Q3 2020 to $56.065 million in Q3 2021 on a year-on-year basis. However, it declined by 0.10% on a quarter-on-quarter basis, i.e. from $56.122 million in Q2 2021 to $56.065 million in Q3 2021. This segment contributed to 28.97% of the company’s total revenue in Q3 2021.

Greens creek:

The Greens Creek orebody contains silver, zinc, gold, and lead, and lies within the Admiralty Island National Monument, an environmentally sensitive area. The Greens Creek site contains properties under lease from the U.S. Forest Service (“USFS”) for a road right-of-way mine waste area and tailings storage facility. The USFS leases have varying expiration terms. The Company is currently exploring, but not mining, on such federal land.  

Hecla Mining’s revenue from Greens Creek declined by 9.29% from $93.494 million in Q3 2020 to $84.806 million in Q3 2021 on a year-on-year basis. It also decreased by 25.45% on a quarter-on-quarter basis, i.e. from $113.763 million in Q2 2021 to $84.806 million in Q3 2021. This segment contributed to 43.81% of the company’s total revenue in Q3 2021.

Lucky Friday:

Adjacent to the Lucky Friday mine property the company also owns or controls approximately 26 square miles of mineral interests, which include patented mining and mill site claims, fee lands, and unpatented mining claims. On November 6, 2008, through the Silver Hunter Mining Company (“Silver Hunter”), they completed the acquisition of substantially all the assets of Independence Lead Mines Company, which held an interest in the Gold Hunter property. 

Hecla Mining’s revenue from Lucky Friday increased by 43.10% from $20.812 million in Q3 2020 to $29.783 million in Q3 2021 on a year-on-year basis. However, It declined by 24.88% on a quarter-on-quarter basis, i.e. from $39.645 million in Q2 2021 to $29.783 million in Q3 2021. This segment contributed to 15.39% of the company’s total revenue in Q3 2021.

Nevada Operations:

As a result of the acquisition of Klondex in July 2018, the company obtained 100% ownership of the Fire Creek mine, Hollister mine, Midas mine, and milling facility. The employees at the Nevada Operations unit are employees of Klondex Gold & Silver Mining Company, our wholly-owned subsidiary, and are not represented by a bargaining agent. There were 76 employees at the Nevada Operations unit on December 31, 2020.

Hecla Mining’s revenue from Nevada Operation increased by 0.89% from $22.70 million in Q3 2020 to $22.90 million in Q3 2021 on a year-on-year basis. It also grew by 171.08% on a quarter-on-quarter basis, i.e. from $8.45 million in Q2 2021 to $22.906 million in Q3 2021. This segment contributed to 11.83% of the company’s total revenue in Q3 2021.

San Sebastian:

The San Sebastian mine is located approximately 60 miles northeast of the city of Durango, Mexico, on concessions acquired in 1999. The company’s concession holdings include the Francine Vein, East Francine Vein, Middle Vein, North Vein, and the Andrea Vein and multiple outlying active exploration areas and cover approximately 160 square miles. 

Hecla Mining’s revenue from San Sebastian was nil during Q3 2021. This segment’s revenue has been continuously declining since Q3 2020. In the second quarter of 2021, San Sebastian just generated $3,000 in revenue.

About the Company:

Hecla Mining discovers, acquire and develop mines and other mineral interests and produce and market (i) concentrates containing silver, gold (in the case of Greens Creek), lead, and zinc, (ii) carbon material containing silver and gold, and (iii) unrefined doré containing silver and gold.  In doing so, they intend to manage business activities in a safe, environmentally responsible, and cost-effective manner.

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