U.S. REPORT Hecla purchases two U.S. feldspar mines

Idaho-based Hecla Mining (NYSE) has purchased all the outstanding stock of Indusmin from a subsidiary of Falconbridge Ltd. and from Unimin Corp. The acquisition includes two feldspar mines and a processing plant at Spruce Pine, N.C. The mines produce more than 100,000 tons of feldspar annually.

Hecla said the purchase gives the company access to three of the four ingredients required to produce ceramic products.

“Hecla has considered the feldspar business for some time as a complement to our ball clay and kaolin products,” said Chairman Arthur Brown.

Unimin, which purchased the assets of Falconbridge’s Indusmin division from Falconbridge on Sept. 25, retains the right to those assets, including nepheline syenite and silica operations in Ontario and Quebec.