Coeur Mining expects to invest approximately 60 percent of its total 2023 exploration investment of $40 to $50 million in Kensington underground gold mine in Alaska and the Silvertip polymetallic exploration project in British Columbia.
Operations have started at the Manh Choh gold mine near Tok, but the production phase is a year away, pending modifications to the mill at the Fort Knox mine near Fairbanks.
The developer of the Manh Choh gold mine near Tok is moving ahead with financing, selecting ING CAPITAL and Macquarie to arrange a $70 million loan for this year’s pre-production construction.
The Alaska Department of Labor and Workforce Development is providing a $300,000 grant to UAF for training workers from the Tok area for the Manh Choh gold mine.
Over millions of years, the Tintina Fault has moved gold-bearing rocks from Canada into Interior Alaska. The Yukon River, as it enters Alaska, somewhat follows the trace of the Tintina Fault.
At the Greens Creek mine in 2019, 9.9 million ounces of silver and 56,624 ounces of gold were produced. For the fourth quarter, 2.7 million ounces of silver and 15,356 ounces of gold were produced. Silver production for 2019 was the highest it has been since Hecla acquired 100 percent ownership of the mine in 2008.
Now two-thirds of the way through an eighteen-month transition plan focused on modernization and increased production, Northern Star Resources CEO Stuart Tonkin says that the Pogo investment has exceeded expectations.
Alaska Department of Natural Resources awarded its 2019 Excellent Mine Reclamation Award to Ajax Mining Alaska Inc., a Fortymile mining district placer gold operation, in recognition of its successful continuous reclamation practices.
Millrock Resources signed a binding letter agreement whereby First Quantum Minerals Limited has been granted the exclusive right to enter an option agreement on Millrock’s Dragonslayer porphyry copper-gold project in eastern Alaska.
Mineral exports accounted for 36 percent of Alaska’s export total in 2017, and all signs point to mined commodities staying one of the state’s leading exports for years to come.