Hecla Mining to Double Exploration Budget in 2026 Reserve Push

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.

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

The move comes as mining companies face increasing pressure to secure high-grade reserves amid fluctuating commodity prices. By front-loading exploration costs, Hecla seeks to stabilize its production pipeline across its North American portfolio.