Hecla Mining (HL-N) has struck a 750 -million US dollars deal to buy out its majority partner Rio Tinto (RTP-N, RIO-L) at their co-owned Greens Creek underground silver mine near Juneau, in Alaska's panhandle. Building on its current 29.7 percent interest, Hecla will pay 700 million US dollars in cash and 50 million US dollars in shares for Rio Tinto's 70.3 percent interest, which is held through two wholly owned subsidiaries - Ken-necott Greens Creek Mining and Kennecott Juneau Mining. Hecla has been a non-operating partner at the mine for more than two decades.
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