While a full inspection had not occurred at the time, the company said the failure appeared to be caused by a fire that was contained and under control. Steps were being taken to ensure the fire was extinguished before normal ventilation is re-established. No personnel were in the mine at the time of the failure and the Mine Safety and Health Administration (MSHA) was notified.

The incident occurred on August 21 about 500 feet from the bottom of the active portion of the shaft and it is expected to impact production and cost guidance for the mine. The company said it is working on a plan to resume production and will update 2023 guidance once that plan has been developed.

The Lucky Friday mine produced 1.3 million oz of silver during Q2 2023, which was the highest since Q1 2000.