Mine to be closed for a year
Wednesday, January 11, 2012
SPOKANE, Wash. (AP) -- The Lucky Friday Mine in Idaho's Silver Valley will be closed for a year after federal safety inspectors determined that material must be removed from the main silver shaft.
The news caused the stock price of Hecla Mining Co. to tumble on the New York Stock Exchange on Wednesday, losing a quarter of its value to fall to around $4.40 a share.
The federal Mine Safety and Health Administration is investigating the mine after a series of accidents killed two miners last year. In mid-December, seven miners were injured in a rock burst at the mine.
About 275 people work at the mine.