The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 16 of 16
Final assay results from the 2007 drill program at the Pebble Project in Southwest Alaska are bearing out predictions about the copper-gold-molybdenum deposit made by Northern Dynasty Minerals Ltd. and Anglo American plc, co-owners of the project. Samples from 157,000 feet taken from 36 drill holes offered enticing clues to the overall size, copper-gold-molybdenum grade distribution and geometry of the Pebble East deposit. Sean Magee, a spokesman for the partnership formed by...
True North Gems has expanded its Beluga sapphire property by staking six additional claims, thereby doubling holdings. The Beluga sapphire property, now covers 38 square kilometers, or nearly 24 square miles, is located near the hamlet of Kimmirut, along the south coast of Baffin Island, Nunavut Territory. The Vancouver, B.C.-based junior staked the new claims to cover additional occurrences of sapphire and scapolite, a diagnostic indicator mineral, extending to the southwest and southeast from the known sapphire...
De Beers has written down the value of its Snap Lake diamond mine in the Northwest Territories by US$965 million in what management called a "prudent" move given the increased value of the Canadian dollar and higher costs and construction challenges at Canada's newest diamond mine. The South African company is the second diamond miner to report financial problems in Canada, with Tahera Diamond Corp. seeking bankruptcy-court protection in January after a failure to raise money for its Jericho Diamond Mine in Nunavut. De...
The U.S. Senate Energy and Natural Resources Committee held a hearing Jan. 24 on legislation that the U.S. House of Representatives approved last year that would impose stiff new royalties on hardrock mining companies. The full committee heard testimony on reform of the Mining Law of 1872 from a range of witnesses, primarily from western states, including Henri Bisson, deputy director of the Bureau of Land Management; and Randy Wanamaker, deputy mayor of Juneau and executive director of the BBC Human Resources Development Cor...
NovaGold Resources Inc. and Barrick Gold Corp. have incorporated more drilling results into their estimate of recoverable gold at the Donlin Creek deposit and boosted that number by 77 percent to 29.4 million ounces. Donlin Creek is situated on Calista Corp. lands in the northern part of the Yukon-Kuskokwim region in western Alaska. The estimate of measured and indicated resources was prepared by Barrick geologists, and compares favorably with an October 2006 projection of...
Mineral exploration activity in British Columbia climbed to an all-time high of nearly $416 million in 2007, up 57 percent from the previous record of $265 million in 2006. B.C. officials reported 472 exploration stage projects across the province, with British Columbia steadily gaining a larger share of Canada's exploration activity. Last year, 23 new mine development proposals were in the works for 13 metal mines, seven coal mines and three industrial mineral mines, the B.C. government said in a statement Jan. 22....
I'm ready to give the Devil his due. The Star Trekkie commercials that the Renewable Resource Coalition, or whatever nom de guerre Bob Gillam currently hides behind, are very clever. They are not true, but then again, truth and freedom of speech have always been wholly disassociated when it comes to advertising. The Gillamites attempt to raise the inference that the initiatives that have been offered for the ballot next August will stop the Pebble mine, but won't affect other...
Five of the nation's leading jewelry retailers - Tiffany & Co., Ben Bridge Jeweler, Helzberg Diamonds, Fortunoff, and Leber Jeweler, Inc. - pledged their support Feb. 12 to efforts to permanently protect the Bristol Bay watershed from large-scale metal mining, including the massive proposed Pebble gold mine. The retailers, who reported $2.2 billion in sales in 2006, spoke out just before Valentine's Day, one of the biggest jewelry shopping seasons of the year, to highlight their opposition to the mining project. They said the...
With metals prices riding high, Yukon Territory government officials are excited about prospects for increased exploration and development activity by mining companies in the coming season. "We are optimistic about industry's continued interest in Yukon," said Energy, Mines and Resources Minister Archie Lang, who joined a government delegation attending the 25th annual Mineral Exploration Roundup in Vancouver the week of Jan. 27. More than 6,000 delegates, including geologists, prospectors, junior and senior mining and...
When Anglo American plc. CEO Cynthia Carroll spoke to Alaska business leaders during a visit to Anchorage in October she vowed that the partnership between her company and Northern Dynasty Minerals Ltd. would recruit first in Alaska before looking elsewhere to find professionals to manage, run and work their massive Pebble Project. The Pebble Partnership didn't have to look far. John Wood fits the bill perfectly. Not only does Wood offer more than 35 years in civil and mining...
Freegold Ventures Ltd. Jan. 28 said it has completed the purchase of a strategic parcel of land adjoining its Golden Summit property outside Fairbanks and less than 5 miles from the Fort Knox gold mine. The acquisition of the 301.5-acre tract of private ground, plus three additional state claims, is essential to any long-term development at Golden Summit, the company said. Given the hilly topography of much of the Golden Summit property, the flat-lying tract had been...
Hecla Mining Co., longtime minority share owner of the Greens Creek Mine, Feb. 12 said it agreed to purchase for $750 million the remaining 70.3 percent interest in the Southeast Alaska operation that is owned by Rio Tinto subsidiary Kennecott. The cash deal will give Hecla of Coeur d'Alene, Idaho, 100 percent control of the world's fifth largest silver mine and will nearly double the company's silver output to about 11 million ounces annually. Greens Creek also produces commercial quantities of gold, zinc and lead. The...
As is commonly the case in late January, an over abundance of news has come out in the last month, in part to coincide with year-end financial releases and in part to coincide with the annual Cordilleran Roundup mining convention in Vancouver. The news itself included an $819 million year-end 2007 profit at one Alaska mine, new gold resources of 32.8 million ounces for the state's largest gold deposit and the sale of 70 percent of another mine for a whopping $750 million. That doesn't count new resource estimates on two other...
The Alaska State House Special Committee on Fisheries met Feb. 18 to discuss House Bill 134, sponsored by Rep. Bryce Edgmon, D-Dillingham. Co-sponsors of the bill are: Reps. Jay Ramras, R-Fairbanks, Nancy Dahlstrom, R-Anchorage, Les Gara, D-Anchorage and Beth Kerttula, D-Juneau. HB 134 is described as an act relating to conservation and protection of wild salmon production in drainages affecting the Bristol Bay Fisheries Reserve; and providing for an effective date. The bill,...
A new group of Alaskans from across the state have joined forces to fight two proposed ballot initiatives that threaten the mining industry and its $10 billion-plus impact on Alaska's economy. Citing concerns about the negative effects the measures could have on Alaska, "Alaskans Against the Mining Shutdown" said in a statement Jan. 25 that it will direct a statewide campaign to defeat the two ballot initiatives which would have the effect of shutting down existing mines and prohibiting future mines in Alaska, the coalition...
Full Metal Minerals Corp. is gearing up for a busy 2008 exploration season. And Rob McLeod, the Vancouver, B.C.-based junior's vice president of exploration, "can't think of a better place to explore than Alaska in terms of mineral potential." McLeod told Mining News in a recent interview that the company will spend between $17 million and $20 million on exploration this year on ten projects in Alaska and one prospect in Canada's Yukon Territory. Some $6.5 million of that...
