COEUR D'ALENE, Idaho (AP) — Officials with Hecla Mining Company say the business is acquiring about 14 million shares of a Canada-based resource exploration company for about $2.5 million.
The Coeur d'Alene Press reports the acquisition means Hecla will control about 15 percent of the outstanding common shares of Canamex Resources Corp.
Canamex is focused on the exploration of two gold properties: The Bruner gold project in Nye County, Nevada, and the Aranka North gold project in Guyana.
Hecla officials say they don't currently have any intention to acquire ownership or control over additional securities of Canamex.
©2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.