The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 101 - 125 of 308
It is high summer in Alaska and the mining industry is busy breaking rocks, drilling holes, collecting baseline data, making upgrades to mine facilities and producing metal and coal across the state. The effects of declining prices for metals are starting to be felt at the operating metal mines and except for a few projects, the exploration sector continues to wallow in the doldrums, which have plagued the industry since 2013. That said, the tire-kicking of earlier this...
The owners of Alaska’s five large metal mines – Sumitomo Metal Mining Pogo, Hecla Mining Company, Kinross Gold Corp, Teck Resources Ltd. and Coeur Mining Inc. – accounted for nearly half the US$92 million of exploration spending in the state during 2014 and similar investments by these companies is providing solid footing for the Far North state’s mineral exploration sector this year. Avalon Development President Curt Freeman said he is seeing more mining majors shopping for d... Full story
Although news from the mining industry is generally limited this time of year, several items of import over the past month bear discussion. Alaska suffered a tragedy with the recent passing of mineral industry giant Chuck Hawley, one of Alaska's most talented and respected geologists. Although Chuck loved the mineral exploration game, he was far more than a geologist to many of us and to the state. His plus-50-year love affair with Alaska spanned some of the state's most...
Over the past month, three of Alaska's large mines reported strong quarterly results; two projects in advanced permitting and pre-feasibility reported recent progress; and three exploration properties changed hands. The latter is a trend putting 2015 on course to be one of the most active years for new acquisitions in the past decade. Placer gold production has all but ceased for the year; however, output from Alaska's placer mines is not likely to be known with any certainty...
The Alaska House of Representatives March 28 unanimously passed legislation that paves the way for more affordable energy in Southeast Alaska. House Bill 143, introduced by Rep. Cathy Muñoz, R-Juneau, authorizes the Alaska Industrial Development and Export Authority to issue conduit bonds in order to finance a hydroelectric project at Sweetheart Lake, roughly 43 miles south of Juneau. "Affordable energy is a keystone of a healthy and sustainable economy," Muñoz explained "This bill would create jobs, provide clean, e...
Long, grueling, arduous, treacherous and painful are among the many adjectives, and sometimes expletives, used to describe the mining sector's nearly four-year bear market that is showing signs it is ready to hibernate. While Alaska's metal mines have not emerged from this enduring downturn unscathed, the sector remains largely intact and ready to ride metals prices higher. Together, Alaska's mines produced roughly US$2.76 billion of precious and base metals during 2015, down... Full story
Although there is plenty of Alaska mining industry news this month, the big dog in the pen is the dramatic and unexpected run-up in the price of gold, which moved from a low of $1,078 per ounce to a high of $1,246/oz., most of which occurred after Feb. 1. Although profit-taking and other factors have caused the price to back off a bit, the move was both dramatic and unexpected. As you might guess, the ether is full of talking heads telling us why it went up, why it either won'... Full story
Coeur Mining Inc. Feb. 10 reported a banner year at its Kensington gold mine in Southeast Alaska. "It delivered consistent operating performance throughout the year, resulting in gold production of 126,000 ounces at cost of US$798/oz.," Coeur President and CEO Mitchell Krebs informed shareholders and analysts on Feb. 11. The 126,266 ounces of gold produced at Kensington was recovered from 660,464 tons of ore averaging 0.2 oz. /t gold. Mill recovery rates averaged 94.9 percent... Full story
Higher grades, increased milling rates and improved recoveries add up to a banner year for both the Kensington and Greens Creek mines in Southeast Alaska. Kensington, the youngest of the two mines located near Alaska's capital city of Juneau, got off to a slow start when owner Coeur Mining Inc. was finally able to begin operations in 2010. In recent years, however, the mine has steadily increased its gold output while reducing the costs to mine the precious metal -...
As the curtain rings down on 2015, the sound of clapping and cheering can already be heard from the mining industry as it anticipates the end of a largely depressing year which started out looking like the long-awaited industry recovery was going to happen but in the end, did not. The uncertainty brought on by this year's unsettling events was front and center in a recent round-table discussion hosted by Northern Miner, sponsored by PearTree Securities and entitled "New...
A four-year rout in metals, coal and oil prices left Alaska's mining community digging deep for reasons to be optimistic during their annual gathering at the Alaska Miners Association convention in Anchorage. While depressed metals prices naturally cut into the bottom lines of those companies mining gold, silver, zinc, lead and coal in Alaska, the effects reverberate across the entire mining community. In order to adjust to lower metals prices, the producers have cut back on...
Coeur Mining Inc. Nov. 2 reported that it produced 3.8 million ounces of silver and 85,769 ounces of gold, or 9 million silver-equivalent ounces during the third quarter 2015. For the quarter, Coeur's revenue was US$162.6 million; adjusted earnings before interest, taxes, depreciation, and amortization was US$31.4 million; adjusted net loss was US16 cents per share; and cash flow from operating activities was US$36.2 million. The company sold 9.5 million silver-equivalent...
CDE:NYSE Chairman: Robert Mellor President & CEO: Mitchell Krebs VP, Exploration: Hans Rasmussen An incentive program that allocates exploration funds based on success has paid dividends for Coeur Mining Inc. and the Kensington gold mine in Southeast Alaska. As a result of this success-driven strategy, the exploration team at Kensington was doled US$9.1 million to expand upon the high-grade gold discoveries made on the property in 2014. As a return on its investment, Coeur Mining was rewarded with a new mine plan that will...
Coeur Mining Inc. Oct. 6 reported that the Kensington Mine in Southeast Alaska produced 28,688 ounces of gold during the third quarter of 2015, down four percent from the second quarter. Lower mill throughput and recovery rates, offset by slightly higher grades, were reasons given for the drop in gold production. Kensington has produced 92,442 oz. of gold through the first three quarters of 2015 and is on track to meet Coeur's guidance of 115,000-125,000 oz. for the year. The... Full story
Millrock Resources Inc. has cut a deal to buy the Apex-El Nido property, home to two historical high-grade gold mines in Southeast Alaska that have largely been forgotten. Located on Chichagof Island, about 70 miles southwest of Juneau and about the same distance northwest of Sitka, the Apex and El Nido mines churned out at least 17,000 ounces of gold from ore that averaged about 1.4 ounces per-ton gold during spurts of mining carried out between 1922 and 1940. While very...
More gold and silver at lower costs is a common theme for the Greens Creek, Kensington and Fort Knox mines in 2015 and an important component of keeping these operations economically viable for their respective owners - Hecla Mining Co., Coeur Mining Inc. and Kinross Gold Corp. "Cost control is always a priority and ensures that operating mines can succeed even during downtimes in commodities cycles," said Karen Mathias, managing consultant, Council of Alaska Producers. This...
Coeur Mining Inc. Aug. 4 announced that it now expects the Kensington Mine to produce 115,000-125,000 ounces of gold in 2015, compared to its previous guidance of 110,000-115,000 oz for the year. The company anticipates the cost of sales per oz of gold from the Southeast Alaska Mine for 2015 to be US$850-US$900, a marked improvement compared to the US$900-US$975 per oz originally forecast. The Kensington Mine produced 63,754 oz of gold during the first six months of 2015, a...
Over the past month Alaska's mining industry has suffered a perfect storm of manmade and natural issues that read like something from a pulp fiction novel. On the man-made side of the ledger, gold, silver, copper, and lead prices have all hit 5-year lows and zinc prices continue to slide lower. Mining equity markets are still in severe decline, making it extremely challenging for junior exploration companies to raise the risk capital necessary to explore their Alaska...
Coeur Mining Inc. July 9 said its Kensington Mine in Southeast Alaska produced 29,845 ounces of gold during the second quarter, down about 12 percent from the 33,909 oz recovered during the first quarter. Mill throughput during the second quarter averaged a robust 1,875 tons per day, but gold grades dipped to 0.18 oz/t compared with 0.24 oz/t during the first three months of 2015. Coeur anticipates that Kensington will produce 110,000-115,000 oz of gold for full-year 2015.... Full story
Permitting delays are becoming the bane of companies endeavoring to develop mines in the United States, a country that is otherwise considered a stable and richly endowed mining jurisdiction. SNL Metals & Mining has published a report that shows a notoriously lengthy process is resulting in U. S. mines losing up to half their value before receiving final approvals for development. "The longer the wait, the more the value of the investment is reduced, even to the extent that...
I recently returned from the Geological Society of Nevada's once-every-five-years Symposium in Reno and was surprised to learn a number of things regarding Alaska, despite the symposium's tight focus on the Great Basin of the western United States. First off, mineral exploration guru Brent Cook presented information suggesting we have reached and are "bumping along" the bottom of the current metals market slump. Reminded me of an overloaded fixed-wing aircraft bumping down the...
Coeur Mining Inc. May 4 reported first-quarter 2015 revenue of US$153 million, a US$12.4 million increase over the comparable sum in the fourth quarter of 2014. The company attributes the 9 percent improvement in revenue to increased sales and slightly better prices for metals sold. The Kensington gold mine in Southeast Alaska generated US$12.3 million in cash flow, and US$8.2 million in free cash flow, after capital expenditures. Coeur said a 14 percent increase in average...
Alaska miners are taking U.S. Department of Interior Secretary Sally Jewell to task over recent comments she made that suggest mining is prolific on federal lands in Alaska. Following a speech to the Center for American Progress, a liberal think-tank based in Washington, D.C., Jewell told Alaska Public Radio Network Correspondent Liz Ruskin that "much" of mining in Alaska is done on federal lands. The Alaska Miners Association said this assertion contradicts what is actually... Full story
With a mild winter for most of Alaska behind us and an early spring in progress over much of the state, spring fever has once again laid its grip on the mining industry. A number of exploration and development programs are slated for the summer season, suggesting the mining industry has finally started to rise from the three-year miasma that has gripped it worldwide. A couple of macro-scale items also are pointing toward a more robust industry. The U. S. Geological Survey's...
The Kensington gold mine in Southeast Alaska is set to produce more gold at lower costs in the coming years, according to a new plan published by owner Coeur Mining Inc. "Our recent success identifying high-grade mineralization near existing Kensington infrastructure has added higher-margin production to our mine plan and significantly improved the expected economics of the mine," Coeur Mining President and CEO Mitchell Krebs explained. The highest grade portion of this newly...
