Exhibit 12.1

Hecla Mining Company

Fixed Charge and Preferred Dividend Coverage Ratio Calculation

For the Years Ended December 31, 2013, 2012, 2011, 2010 and 2009 

	Year Ended December 31,
	2013			2012		2011		2010			2009
Net income (loss) before income taxes	$	(34,925	)	$	23,833	$	233,142	$	(74,549	)	$	60,146
Fixed charges:
Interest portion of rentals		1,592			1,044		1,014		695			814
Total interest costs		28,174			2,427		2,875		2,211			13,244
Total fixed charges		29,766			3,471		3,889		2,906			14,058
Total earnings (loss)	$	(5,159	)	$	27,304	$	237,031	$	(71,643	)	$	74,204
Preferred stock dividend requirements	$	552		$	552	$	552	$	13,633		$	13,633
Ratio of pre-tax income (loss) to net income (loss)	$	0.72		$	1.59	$	1.54	$	(1.52	)	$	0.89
Preferred stock dividend factor	$	552		$	878	$	850	$	13,633		$	13,633
Ratio of earnings to fixed charges	(na)				7.9		60.9	(na)				5.3
Ratio of earnings to fixed charges and preferred dividends	(na)				6.3		50.0	(na)				2.7
Coverage deficit:
On fixed charges	$	34,925		$	—	$	—	$	74,549		$	—
On fixed charges and preferred dividends		35,477			—		—		88,182			—