Alexco Resource

What Alexco Resource does

Alexco Resource Corp. was a Canadian precious metals mining company headquartered in Vancouver, British Columbia, focused on the exploration, development, and production of silver, lead, and zinc from its flagship Keno Hill Silver Project in Yukon Territory, Canada. The company operated underground mines across five mineral deposits — Bellekeno, Lucky Queen, Flame & Moth, Onek, and Bermingham — with a 400 tonne per day mill facility producing polymetallic concentrates. Keno Hill is recognized as one of the highest-grade silver districts in the world, with historical production exceeding 200 million ounces at average grades of 44 oz/t between 1913 and 1989, and current reserves of 53,407 thousand ounces of silver at 25.28 oz/ton. In 2025, the operation produced 3.02 million ounces of silver, 3,633 tons of lead, and 2,247 tons of zinc.

The company's business model centered on selling silver, lead, and zinc concentrates to metal traders and smelters under direct commercial arrangements, with revenue tied to prevailing commodity prices. Alexco also operated an environmental and technical consulting subsidiary (Alexco Environmental Group), which provided remediation and engineering services to mining, chemical, gas, and government clients. The company maintained core strategic partnerships with the First Nation of Na-Cho Nyak Dun Development Corporation for community support and social license, and held a 242 square kilometer land package in a top-10 Fraser Institute rated jurisdiction. Alexco completed nine funding rounds totaling over $77 million between 2009 and 2022 to fund mine development and exploration. On July 5, 2022, Hecla Mining Company announced the acquisition of Alexco Resource Corp., finalizing the transaction on September 7, 2022, after which Alexco became a wholly-owned subsidiary operating as part of Hecla's broader silver mining portfolio.

Name

Alexco Resource

Legal name

Alexco Resource Corp.

Website

https://alexcoresource.com

Company type

Public

Founded year

2005

Operating status

Acquired

Headcount range

101–250 employees

Short description

Alexco Resource Corp. was a Canadian precious metals mining company that operated the high-grade Keno Hill Silver Project in Yukon, producing silver, lead, and zinc concentrates. Acquired by Hecla Mining Company in September 2022, it now operates as a wholly-owned subsidiary.

Ownership category

akta.pro rank

Product category

Silver Mining

NAICS

Other Metal Ore Mining (21229), Support Activities for Mining (2131), Support Activities for Metal Mining (213114)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Mine Operations Contracting (Open-Pit & Underground Development, Production, Load/Haul) (IMAKAKAD), Mine Surveying & Geospatial Services (Survey, Drone/LiDAR, GIS, Grade Control) (IMAKAKAK), Mine Infrastructure & Utilities EPC (Power, Water, Comms, Camps, Roads, Airstrips) (IMAKAOAB), Minerals, Mining & Geologic Resources Administration (BPAIAMAJ)

Keywords

• Silver mining
• Polymetallic ore processing
• Lead zinc concentrates
• Underground mineral extraction
• Mining reclamation services

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Others

Core offering

Alexco Resource Corp. operates the Keno Hill Silver Project in Canada's Yukon Territory, an underground polymetallic mining operation that extracts and processes silver-lead-zinc ore from five deposits (Bellekeno, Lucky Queen, Flame & Moth, Onek, and Bermingham) using a 400 tonne per day mill. It produces silver, lead, and zinc concentrates for sale to metal traders and smelters, and provides scientific and engineering services to mining, chemical, gas, and government clients through its Alexco Environmental Group. The company was acquired by Hecla Mining Company in 2022 and now operates as a wholly-owned subsidiary.

Product overview

Alexco Resource Corp. operated the Keno Hill Silver Project, a high-grade underground silver mining operation in Yukon, Canada. The project comprised multiple silver deposits producing silver, lead, and zinc concentrates, supported by a 400 tonne per day mill and associated infrastructure. Note: Hecla Mining Company acquired Alexco Resource Corp. on July 5, 2022, with the deal finalized on September 7, 2022; the Keno Hill property is now operated by Hecla.

Differentiator

Problem solved

Functional benefit

Products and services

• Keno Hill Silver Project Underground silver-lead-zinc mining and milling operation producing silver, lead, and zinc concentrates from five mineral deposits for sale to metal traders and smelters. The project covers 242 square kilometers in the Keno Hill Silver District, Yukon, Canada, with current reserves of 53,407 thousand oz of silver at 25.28 oz/ton grade.
• Alexco Environmental Group services Scientific and engineering services to mining, chemical, gas, and government clients, including mine reclamation, environmental remediation, and consulting delivered via Alexco Environmental Group and the Elsa Reclamation and Development Corporation.

Quantifiable outcome

• 3.02 million ounces of silver produced in 2025
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• First Nation of Na-Cho Nyak Dun Development (FNNND) CorporationcoreStrategic or Co-development Partner · 5 July 2022Business agreements are in place with the First Nation of Na-Cho Nyak Dun Development Corporation. Keno Hill is located within the traditional territory of the First Nation of Na-Cho Nyak Dun. This partnership provides community support and social license to operate in the region.
• Hecla Mining CompanycoreOthers · 5 July 2022Hecla acquired Alexco Resource Corp. on July 5, 2022 (deal finalized September 7, 2022). Hecla now owns 100% of the Keno Hill Silver Project. Alexco Resource became a wholly-owned subsidiary of Hecla Mining Company.

Scale indicators2 records

Recent moves7 records

Expansion highlights4 records

Emerging players

• Dolly Varden Silver: Dolly Varden is a junior silver explorer-developer in the Golden Triangle of British Columbia. Comparable to Alexco as a high-grade Canadian primary silver asset with underground mining potential and similar jurisdictional exposure to Canadian mining regulations.

Direct peers

• Coeur Mining: Coeur Mining is a U.S.-listed precious metals producer with underground silver-dominant operations including Palmarejo (Mexico) and Kensington (Alaska). Directly comparable to Alexco on underground mining method, polymetallic concentrate production, and primary silver exposure.
• Silvercorp Metals: Silvercorp produces silver-lead-zinc concentrates from underground narrow-vein mines, historically in China and now expanding into the Americas. Closely matches Alexco/Keno Hill on metal mix, underground mining method, concentrate product, and primary silver orientation.
• Avino Silver & Gold Mines: Avino operates the Avino mine in Mexico producing silver, gold, and base metal concentrates. Directly comparable to Alexco on underground mining, polymetallic silver-lead-zinc concentrate sales, and primary silver orientation with byproduct credits.
• MAG Silver: MAG Silver holds a 44% interest in the Juanicipio silver mine in Mexico operated by Fresnillo. Comparable to Alexco as a high-grade primary silver asset with joint-venture/operator structure and underground polymetallic silver-lead-zinc mineralization.
• First Majestic Silver: Primary silver producer operating multiple underground silver mines across Mexico. Comparable as a publicly listed pure-play silver miner with concentrate sales, polymetallic byproduct exposure, and similar cost-structure sensitivities to silver prices.
• Endeavour Silver: Mid-tier silver producer operating underground silver-gold mines in Mexico. Directly comparable to Alexco as a primary silver producer with underground narrow-vein operations and similar revenue sensitivity to silver price realization.

Broad incumbents

• Pan American Silver: Large-cap silver and gold producer with multiple operating mines across the Americas. Comparable as a senior silver producer with underground operations, polymetallic byproduct streams, and exposure to the same silver/lead/zinc price complex that drives Keno Hill revenue.
• Hecla Mining Company: Hecla acquired Alexco in 2022 and is the senior North American silver producer operating Greens Creek (Alaska), Lucky Friday (Idaho), and Keno Hill (Yukon). Directly comparable as a primary silver producer with polymetallic byproduct exposure and similar underground narrow-vein mining characteristics.
• Fresnillo plc: Fresnillo is the world's largest primary silver producer operating multiple underground mines in Mexico. Comparable to Alexco as a senior underground silver miner with polymetallic byproduct output and the same global silver pricing exposure that drives Keno Hill revenue.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/1418629298353785
• LinkedInlinkedin.com/company/alexco-environmental-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds9 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alexco Resource