Mining Company Hecla Mining reported a deep fall in profits due to declining prices of silver.It has also halted mining activities at a silver mine in Idaho.
The mine was ordered to be shut down by federal authorities this year, after three accidents occurred at the site. This has also contributed to the fall of profits for this mining company. Hecla Mining has stated that the mine is undergoing construction and will be fully operating by the first quarter of 2013.
Hecla mostly mines for silver in the US and Mexico. The net income of Hecla Mining fell to 1c a share as opposed to the 11c a share, in last year. Sales at Hecla fell by 43%.