Hecla mines not impacted by Venezuelan review

[Libertarian_Guard]

http://biz.yahoo.com/rc/030924/miner...d_hecla_1.html

Wednesday September 24, 6:06 pm ET


NEW YORK, Sept 24 (Reuters) - Hecla Mining Company (NYSE:HL - News) said its operations will not be affected by the Venezuelan government's announcement to reexamine some mining contracts granted by its government development company in the Guayana region

Hecla said its La Camorra gold mine is not a CorporacionVenezolana de Guayana (CVG) contract, although it is located in the El Dorado mining district in central eastern Venezuela.

The company said most of its Venezuelan mines are fully approved by the Ministry of Energy and Mines and do not come under the category of contracts to be examined.

"We believe our CVG contracts are in good standing and our operations and development projects will move forward as planned," the company said.

Hecla holds CVG contracts on some exploration properties that could fall under the decree, but the company said it believes those properties are in full legal, regulatory and filing compliance.

Hecla Mining Co. is headquartered in Coeur d'Alene, Idaho. It has mines and processes silver and gold in the United States, Venezuela and Mexico.