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Category: Mineral Resources

Minerals

Minerals

Fort Knox Mine to see $100 million investment and expansion Kinross Gold Corp. announced June 12 a $100 million expansion of the Fort Knox gold mine near Fairbanks. The project will add approximately 1.5 million ounces of gold to the mine’s ultimate recov- ery and extend the mine life to 2030, Kinross said. Kinross described Fort Knox as one of its best-per- forming properties. The land that will be used for the expansion was formally owned by the federal government….

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Minerals

Minerals

Pebble says it will replace First Quantum Minerals for mine Northern Dynasty Minerals Ltd. and First Quantum Minerals Ltd. terminated an agreement under which First Quantum would have become a partner in Northern Dynasty’s large Pebble copper/gold project southwest of Anchorage. Northern Dynasty First Quantum were unable to reach agreement on the option and partnership transaction contemplated in the December 15, 2017 framework agreement between the parties. Opponents to the mine were quick to celebrate: “Today is a victory for…

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NGO investor lobbying appears to pay on Pebble

NGO investor lobbying appears to pay on Pebble

Conservation groups are employing a new tactic to ght major projects, and it appears to be having an effect with large public companies sensitive to reputation. This was likely a factor in First Quan- tum Minerals’ decision not to exercise an option on Pebble Mine (see page 3). Pebble opposition groups including tribal entities from Bristol Bay and the Natural Resource Defense Council, a ma- jor conservation organization, mounted an intense lobbying campaign on First Quantum’s manage- ment to exit…

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Minerals

Minerals

Pebble gets one year state permit The state Department of Natural Resources approved a one-year land-use permit for Pebble Partnership so the company can drill 80 bore holes needed to gather geotechnical information. Pebble will also be able to do site restoration work. The DNR said it will also ramp up site inspections, and will form a new Bristol Bay Advisory Group to advise the agency. The U.S. Army Corps of Engineers is meanwhile continuing scoping meetings for an Environmental…

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Zinc prices drive up Red Dog Mine profits, and NANA royalties

Zinc prices drive up Red Dog Mine profits, and NANA royalties

Strong zinc prices drove revenues and profits up for Teck Alaska at the Red Dog Mine north of Kotzebue, according to Teck’s rst quarter nan- cial statistics. Revenues were up to C$336 million (Canadian) for the quarter, compared with revenues of C$246 million in first quarter 2017; pro ts were up to C$181 million in the quarter compared with C$121 million for the same period of 2017, and royalties paid to NANA Regional Corp., the land-owner, were C$84 million compared…

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Minerals

Minerals

Donlin Gold final EIS due out soon The U.S. Army Corps of Engineers said it will publish its Final Environmental Impact Statement for the big Donlin Gold project in April, so the FEIS could come out any day. The large gold deposit is near the mid-Kuskokwim River south of McGrath. A federal Record of Decision approving the document will follow the FEIS in about 120 days. The nal step would be for the owners, Barrick Gold and NovaGold Resources, to…

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Minerals

Minerals

UCore sets out its mine schedule UCore Rare Earth published its hoped-for project development schedule, calling for nancing and design in 2019, construction in 2020 and a start of production in 2021 with output being ramped up over three years. The company’s mine is on south Prince of Wales Island but the rare earths process plant could be located in Ketchikan. Prices for rare earths are not at the level the company would like, however, but ways are being investigated…

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“Scoping” for project’s EIS is underway

“Scoping” for project’s EIS is underway

Army Corps launches Pebble Mine regulatory process The U.S. Army Corps of Engineers has kicked off a 30-day “scoping” process for the Pebble project Environmental Impact Statement, with the rst meeting set for April 9 in Naknek. Nine community meetings are planned, concluding in Anchorage April 19. The end of the scoping is set for April 30. Alaska corps officials said they have received no word from Washington, D.C. about an accelerated EIS schedule, which is being done by some…

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Minerals

Minerals

State still reviewing Pebble permit The state Department of Natural Resource is still reviewing Pebble Partnership’s application for a new Miscellaneous Land Use Permit to do work on state lands at the big Pebble minerals deposit near Iliamna. The current MLUP expires at the end of this month and PPL needs a new one to cover site activities including a summer program of eld work that is planned. DNR will ask the company to provide a bond, also. The U.S….

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Minerals

Minerals

Trilogy Metals completes Preliminary Feasibility Study for Arctic deposit Trilogy Metals completed a Preliminary Feasibility Study Feb. 20 for development of its Arctic copper/ zinc deposit in the Ambler Mining District of the western Brooks Range. The study estimated a $779.6 million initial capital investment with $845.5 million needed over the life of the mine. A 10,000 tonne- per-year surface mine is proposed using conventional truck-and-shovel mining methods. (A “tonne,” the unit commonly used in Canada’s mineral industry, is 2,200…

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