$796M Aurizon Mines takeover approved

With this approval, Hecla will have two producing silver mines and one gold mine.

May 29, 2013 by Canadianmanufacturing.com Staff, with files from Canadian Press

VANCOUVER—Ottawa has approved the $796-million takeover of Aurizon Mines Ltd. by Idaho-based Hecla Mining.

The company said the industry minister has approved the deal following an Investment Canada Act review.

The deal is expected to close June 1.

Aurizon has eight properties in Quebec, including the Casa Berardi gold mine, as well as several development and exploration projects.

Hecla, the oldest precious metals mining company in North America, beat out a rival bid from Alamos Gold.

With this approval, Hecla will have two producing silver mines and one gold mine.