HECLA &lt;HL> TO BUY MINE STAKE FROM BP &lt;BP> UNIT

  Hecla Mining Co said it
  has agreed to purchase a 28 pct interest in the Greens Creek
  Joint Venture from British Petroleum Co PLC's Amselco Minerals
  Inc unit.
      The venture expects to bring into production a
  gold-silver-lead-zinc ore body on Admiralty Island, Alaska,
  containing about 3,500,000 short tons of ore assaying about
  0.18 ounce of gold, 24.0 ounces of silver, 9.7 pct zinc and 3.9
  pct zinc per short ton, Hecla said.  It said there is
  significant potential for the discovery of additional ore.
      Hecla said initial production from a trackless underground
  mine is scheduled for late 1988 at a rate of about 1,000 tons
  or ore per day.  "At this rate, the Greens Creek mine will be
  the largest domestic silver mine and is expected to be one of
  the lowest cost producers."
      The company said it estimates its total investment in the
  project, including its share of preproduction costs, at about
  45 mln dlrs, to be funded through internally generated cash and
  existing lines of credit.  It said Amselco will retain a
  majority interest in the project.  Other interest holders are
  CSX Corp &lt;CSX> and &lt;Exaias Resources Corp>.
  

