The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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As COVID-19 continues to create global economic hardship, it is reassuring to see steady progress on a project offering immediate and long-term benefits to Alaska's economy. The Ambler Mining District Industrial Access Project, or Ambler road, would help bring jobs and new revenues for the Northwest Arctic Borough and the State by lowering the cost to explore, build and operate future mines in the area. We have known of the Ambler district's vast copper and base metal...
If you have watched the metals markets over the last month, you know why Alaska's mineral industry has surged, stalled, swerved, swooped, slowed, shelved and stuttered, sometimes all at the same time! Gold has gone above US$1,500 per ounce; copper pundits are predicting an increasingly dour future; zinc markets are looking to dive below $1.00 per pound; tin markets have marched strongly upward due to supply disruptions; and silver bulls are calling for annual worldwide...
Those of you that attended the recent Cordilleran Roundup Convention in Vancouver can attest to the exuberant, upbeat atmosphere that pervaded the conference and was very much in evidence at the standing-room only festivities at our annual self-hosted Alaska Night meet and greet. But digging down under this veneer of optimism, many of the junior explorers and most of the producers admitted to their expectations of challenging times in 2019. Putting words to this apparent...
Trilogy Metals Inc. Jan. 6 announced a US$2 million increase to the exploration budget reported last week for the Upper Kobuk Mineral Projects in Northwest Alaska, swelling the total expenditures for 2019 to US$18.2 million. Trilogy will contribute US$1 million for this expanded program and South32 Limited will contribute the balance. This additional spending will be used for district-scale exploration across the Ambler Mining District with a focus on identifying and testing...
Trilogy Metals Inc. Jan. 31 announced a US$16.2 million work program this year for the Upper Kobuk Mineral Projects in Northwest Alaska, a work program that is expected to result in major milestones toward realizing the world-class mineral potential the Ambler Mining District has to offer. Similar to the previous two years, Australia-based South32 Ltd. will invest US$9.2 million of the 2019 funding, which will go toward infill and resource expansion drilling at the Bornite...
Mineral exploration spending in Alaska hit an apex of US$365 million in 2011, but as venture capital for mining explorers dried these expenditures plummeted 78 percent to US$80 million in 2015. However, rising gold prices and a loosening of venture capital in 2016 seems to have marked an end to a painfully long bear market for mining explorers in Alaska. “After taking head shots for the past four years, the industry suddenly came to life over the past month, with new budgets,...
Mining's contribution to Alaska's economy starts with the hefty paychecks being issued to the some 4,350 miners that work in the state, according to recent study completed by the Alaska Miners Association and McDowell Group. The report, "The economic benefits of Alaska's mining industry," found that the average miner working in Alaska during 2016 received a whopping US$108,000 for the year, about double the average income across all sectors in the state. That is nearly US$470...
