Crescent Mine to be sold at public auction

WALLACE – The Crescent Mine in Shoshone County will be sold at a public auction in on Dec. 12.

The underground silver mine was part of the Bunker Hill mining and smelting complex but has been closed since 1981. After Bunker Hill’s owners declared bankruptcy, Shoshone County and the federal government became joint owners in the mine.

The county decided to sell the Crescent after rising silver prices led to inquiries about the mine. Shoshone County has sent out a dozen information packets to interested mining firms, including one in Canada. The minimum bid for the property has been set at $650,000. Proceeds from the sale will be split between the county and the federal government.

Silver was trading at $13.04 per ounce on Monday. The Crescent produced between 600,000 ounces to 1 million ounces annually from the 1950s to the 1980s, according to David Bond, a Silver Valley mining correspondent.

“With prices as high as they are, we hope the new owner will want to operate the mine,” said Sherry Krulitz, a Shoshone County commissioner.

The county is experiencing a real estate boom, as vacation condos spring up around Silver Mountain Ski Area. “But those are second and third homes, not families moving in with kids in school,” Krulitz said.

Mining jobs tend to be highly paid, and they usually come with health insurance and other benefits, she said.

The Crescent property near Kellogg includes nearly 15 acres of surface rights. Prospective bidders must pre-qualify at least 48 hours before the auction starts by submitting proof of financing.