Hecla Mining says silver production reached 10.9M ounces in 2009, expects 10M to 11M in 2010

Hecla: 2009 silver production reached 10.9M ounces

COEUR D’ALENE, Idaho — Hecla Mining Co. said Thursday that it produced 10.9 million ounces of silver in 2009, a record amount for the company and an increase of 26 percent from the prior year.

Hecla reported output of 44,000 tons of lead and 80,000 tons of zinc during the year.

The company said that it ended the year with more than $100 million in cash and repaid $38.3 million in debt, leaving it debt free.

Hecla predicted it will produce 10 million to 11 million ounces of silver this year, and said that if metal prices stay steady it expects its cash costs to be lower than $2 per ounce of silver.

Shares fell 4 cents to close at $6.25.