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Exhibit 12
HECLA MINING COMPANY
FIXED CHARGE COVERAGE RATIO CALCULATION
For the Six Months Ended June 30, 2002 and 2001
(In thousands, except ratios)
Six Months Six Months
2002 2001
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Income (loss) from continuing operations
before income taxes $ 6,139 $ (4,898)
Add: Fixed Charges 4,998 6,641
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Adjusted income before income taxes $ 11,137 $ 1,743
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Fixed charges:
Preferred stock dividends $ 4,025 $ 4,025
Interest portion of rentals 36 - -
Total interest costs 937 2,616
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Total fixed charges $ 4,998 $ 6,641
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Fixed Charge Ratio 2.23 (a)
Inadequate coverage $ - - $ 4,898
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Write-downs and other noncash charges:
DD&A(b) (mining activity) $ 11,689 $ 9,765
DD&A(b) (corporate) 67 136
Provision for closed operations and
environmental matters 257 991
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$ 12,013 $ 10,892
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(a)Earnings for period are inadequate to cover fixed charges.
(b)"DD&A" is an abbreviation for "depreciation, depletion and amortization."