Hecla Mining Company ((HL) today announced that the United Steelworkers (USW) Union Local 5114 has ratified the Collective Bargaining Agreement at the Company’s Lucky Friday Mine, located in Mullan, Idaho.
The USW Local 5114 and the Company have agreed to a 6-year contract. The work rules were largely unchanged from the prior agreement. Wages are increased to reflect recent inflationary pressures and to maintain Lucky Friday’s competitiveness in a tight labor market.
“With the ratification of this 6-year agreement, Lucky Friday is positioned for continued successful growth well into the future”, said Phillips S. Baker, Jr., President & CEO. “The agreement shows the strong working relationship with the USW Local 5114 and gives both the work force and Hecla stability. With 2022’s 24% increase in silver production over 2021 and the expected further growth in the coming years, we believe this decade will be the best in the mine’s 80-year history.”