HECLA MINING CO/DE/
For the period ended May 21, 2025. Filed Apr 10, 2025.
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May 21, 2025 · Filed Apr 10, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 14A
(RULE 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant
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Filed by a Party other than the Registrant
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Check the appropriate box:
| ☐ | Preliminary Proxy Statement |
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| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ☒ | Definitive Proxy Statement |
| ☐ | Definitive Additional Materials |
| ☐ | Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12 |
Hecla Mining Company
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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A MESSAGE FROM YOUR
President & CEO
Hecla has a remarkable legacy of operational excellence, innovation, and a strong commitment to responsible mining and sustainable practices.
Rob Krcmarov
President, CEO and Director
To My Fellow Hecla Shareholders:
It is my pleasure to invite you to participate in the Annual Meeting of Shareholders of Hecla Mining Company to be held on May 21, 2025 at 10:00 a.m. PDT. This year’s Annual Meeting of Shareholders will be conducted exclusively online in a virtual meeting format, allowing shareholders to listen, vote and submit questions conveniently from their own home or remote location.
Since joining Hecla six months ago, I have been privileged to work alongside our exceptional team of employees and Board of Directors, who have made the transition for me and my family smooth and enjoyable. My initial impressions of our Board have been confirmed: it is a cohesive group committed to independent, strong governance, and shareholder value creation.
I have now visited all four of our mining operations and engaged extensively with our employees, investors, and other stakeholders to develop a clearer vision for Hecla’s future and some of the opportunities that are available to us. Our high-quality, long-life mines in premier North American jurisdictions provide an exceptional foundation for our future. We expect Greens Creek and Lucky Friday to continue delivering strong performances with robust cash flows and attractive margins. Keno Hill represents our primary growth opportunity, and while ramp-up challenges remain, we have identified a disciplined path to achieving sustained profitable production through targeted investments and operational improvements. Casa Berardi has attractive potential with investment and permitting success, even as we consider where it fits in Hecla’s near-term and long-term future.
Looking ahead, we are focusing on four key strategic pillars with financial discipline at their core. First, we are committed to achieving operational excellence through relentless improvement, including implementing standardized operating systems across all sites to drive efficiency, as well as continuous improvement in cost control. Second, we are optimizing our portfolio to maximize value. We have begun this journey with our strategic review of Casa Berardi, and we are also evaluating our extensive portfolio of exploration assets and investments to unlock value. We will only allocate capital to projects exceeding our minimum return threshold. Third, we are intensifying our focus on financial discipline and shareholder returns. We are implementing a rigorous capital allocation framework centered on free cash flow generation and return on investment metrics with clear hurdle rates. Fourth, our strategic focus on silver production in the U.S. and Canada continues to deliver exceptional value. With the largest silver reserve base in North America and operations concentrated intier-one jurisdictions, we are strongly positioned to meet growing demand from green technology and renewable energy sections.
While our focus is firmly on the future, I want to acknowledge our recent past. All of us at Hecla say thank you to Cassie Boggs for her continued service as our Chair of the Board, and for serving as interim President and CEO for a portion of 2024. Along with our other Directors, her steady hand guided the Company deftly through transition. We also say a thank you to Chuck Stanley for stepping up as Hecla’s Independent Lead Director while Cassie managed the Company’sday-to-day operations. The additions of Mark Board and Jill Satre to our Board in 2024 have brought fresh perspectives while maintaining our commitment to independence, strong governance, and decreasing the average tenure of the Board.
ii | 2025 Proxy Statement
Finally, I again commend Hecla’s workforce, the driving force behind our 134-year legacy of success. I look forward to working with all of our stakeholders as we continue to navigate change, with excitement for what the future holds for the largest U.S. and Canadian silver producer.
As your new President, Chief Executive Officer and Director, I want to thank you for your continued confidence in Hecla and I
look forward to reporting on our progress against these strategic priorities.
Rob Krcmarov
President, CEO and Director
PROXY STATEMENT
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