Hecla to acquire Revett Mining, Rock Creek Mine

OSBURN — Hecla Mining Co. has agreed to acquire Revett Mining Co., of Spokane Valley, in a merger announced Friday, and the Coeur d’Alene company intends to continue efforts toward eventually developing Revett’s Rock Creek Mine.

The companies said the stock transaction is valued at $20 million, and is scheduled to be completed in the second quarter. The transaction is subject to approval by Revett shareholders.

Located in northwest Montana and approximately 50 miles north of Lucky Friday Mine, Rock Creek has one of the largest undeveloped silver and copper deposits in North America, the companies said. Hecla announced it will continue with the permitting process to eventually develop the mine, which would bore under the Cabinet Mountains Wilderness.

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