Under the terms of the consent decree, the company will pay a total of $263.4m, plus certain interest payments, over a period of three years, to the US, the state of Idaho and the Coeur d’Alene Tribe.
The initial payment of $167m is payable by 8 October 2011 and the second and third payments of $25m and $15m will be payable one and two years later, respectively.
In addition, proceeds from the exercise of any outstanding Series 1 and Series 3 warrants with an aggregate exercise price of $56m will be paid as quarterly payments, with the remaining balance, if any, due in August 2014, the company said.
US-based Hecla has two operating mines and exploration properties in four world-class silver mining districts in the US and Mexico.
