The Coeur D’Alene-based producer announced on Friday that it will increase its exploration and pre-development budget from $27.7 million in 2025 to $55 million the following year. This aggressive capital allocation is designed to replace or exceed the company's annual reserve depletion, ensuring long-term operational viability.
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Hecla Mining to Double Exploration Budget in 2026 Reserve Push
Hecla Mining plans to nearly double its investment in exploration and pre-development projects in 2026, targeting a spend of $55 million to replenish its silver reserves. The Idaho-based miner aims to outpace annual depletion by focusing capital on key assets across North America.
CEO Rob Krcmarov stated that the expanded budget signals the company’s confidence in its ability to find new deposits. "Looking ahead, we're signaling our confidence in future reserve replacement by nearly doubling our exploration budget in 2026 compared to the prior year," Krcmarov said in a statement.
Strategic Asset Focus
Hecla reported ending 2025 with 231 million ounces of silver reserves. To maintain this level, the company will concentrate its 2026 spending on four primary locations:- Greens Creek
- Keno Hill
- Lucky Friday
- Strategic sites in Nevada
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