The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 14 of 14
Reeling from regulatory and operating problems at the Rock Creek Mine 12 kilometers, or 8 miles, from Nome and effects of the recent credit drought, NovaGold Resources Inc. Nov. 24 said it has suspended production at the Rock Creek gold mine for at least six months. The move comes less than three months after production startup at the small gold mining project in September. The Vancouver, B.C.-based fledgling producer blamed its financial troubles on huge unexpected cost...
Rick Van Nieuwenhuyse, president and CEO of NovaGold Resources Inc., said problems facing global markets today as well as his struggling company are the result of society's desire for zero risks. "Today we have a world that is ruled by lawyers, accountants, politicians, and (securities and banking) regulators; and they have made a mess of things lately," Nieuwenhuyse told members of the Alaska Miners Association at their annual convention in Anchorage Nov. 7. "We can't really...
Itochu Corp., a multibillion-dollar Japanese conglomerate has agreed to invest as much as $40 million to earn up to a 75 percent stake in Pure Nickel's 750-square-kilometer, high-grade nickel-copper-platinum group element Man property in Alaska. Pure Nickel President and CEO David McPherson said, ""Itochu has a solid reputation for its long-term vision. Itochu's many decades of success speak volumes about the quality of the organization and its people. We have been fervent...
Let me start this month's mining update by saying I am not a chartist nor do I believe economic cycles are controlled by cosmic forces known only to the mystics. That said, I do believe in cycles because I have lived and worked through more cycles in the mining industry than I care to remember. So a couple of observations seem in order as we plummet down the slope off another peak into what looks to be a pretty deep, chilly valley. First off, what goes up, must come down with...
In an economic climate that is causing most juniors to scale back exploration projects, International Tower Hill has expanded its exploration program at the Livengood gold property north of Fairbanks. The addition of a winter exploration program, scheduled to begin in February 2009, is the result of the success of the junior's 2008 summer program. Vancouver, B.C.-based International Tower Hill updated its resource estimate for Livengood by including about half of the assay...
Alaska's mineral industry set a new spending record of about $4 billion in 2007, up 13.3 percent from the value of the industry's expenditures in 2006, according to an 89-page report released Nov. 5 by the Division of Geological & Geophysical Surveys and the Office of Economic Development. The industry's reported value, according to DGGS, is calculated by combining the amount spent on exploration and development with the production value of mines in Alaska. While 2007 was a...
ANDREW PROJECT, Yukon Territory - If Australia-based Overland Resources gets its way, this remote valley in eastern Yukon may become home to the next lead-zinc mine in the Far North. And if development plans currently being discussed by the aggressive junior come to fruition, the Port of Skagway could provide facilities for loading the mine's metal concentrates onto oceangoing barges bound for Asia. Overland has set its sights on defining and developing a growing base metal resource that began with discovery of the Andrew...
10 is 90 percent over. As we approach the calendar change and the other mid-winter holidays, it is reasonable to reflect and prognosticate. Eight short years ago, we were on the dawn of a new era. Republicans controlled the White House, both houses of Congress, Alaska's governor's mansion and both houses of our state Legislature. The stars were perfectly aligned. It was a time for celebration because the dark decade was past and resource development in Alaska, most...
Mountain Province Diamonds Inc. Nov. 17 reported results of an independent valuation of the diamonds recovered from the Gahcho Kue Project during the exploration phase. The valuation was conducted by WWW International Diamond Consultants Ltd. and took place at the London offices of the Diamond Trading Co. Sept. 22-23. Subsequent to the valuation, WWW has revised its Price Book and all diamond values presented below are based on the WWW Price Book as of Oct. 13. Located on Kennady Lake 300 kilometers, or 186 miles, northeast o...
Environmental stewardship is "old hat" for the Usibelli Coal Mine near Healy, Alaska, Bartly Coiley told attendees at the Alaska Miners Association 2008 Annual Convention in Anchorage Nov. 7. The family-owned company began reclamation at the mine in 1970, several years before it was subject to the rigorous requirements of the Surface Mining Control and Reclamation Act of 1977. Being the operator of a coal mine as well as owner of the Aurora Energy coal-fired power plant in...
The Niblack Mining Project on Prince of Wales Island in Southeast Alaska and its developers have won the 2007-2008 Alaska Commissioner's Award of Project Excellence. Dick Mylius, director of the Mining, Land and Water Division of the Alaska Department of Natural Resources, presented the award to Niblack's President and CEO Paddy Nicol and Vice President of Exploration Darwin Green at the Alaska Miners Association 2008 annual convention in early November. The honor recognized...
Cash Minerals Ltd. Nov. 17 reported results of a recently completed NI 43-101 pre-feasibility study on the Division Mountain coal property, located in central Yukon Territory. The property contains an estimated measured mineral resource of 52.5 million metric tons of high-volatile bituminous "B" coal, including 26.4 million metric tons of proven mineral reserves. The study was commissioned in July to re-evaluate previous economic studies of Division Mountain given improvements in export coal markets. Norwest Corp., an energy...
John Shively's longstanding commitment to bringing new opportunities to rural Alaska and his love of a challenge are two qualities that make him the ideal CEO of the Pebble Limited Partnership. "If there is one thing that attracted me to this project - one reason why I walked up to this hornets' nest and beat it with a stick, against some of my friends' better judgment - is the opportunity here," Shively told an audience at the Resource Development Council for Alaska's 2008...
A decade after first kicking rocks around the Palmer Project, Constantine Metal Resources Ltd. President and CEO Garfield MacVeigh and Constantine's new Vice President of Exploration Darwin Green have reunited to uncover what they hope will be a mammoth in a land of elephants. According to Mac Veigh, Constantine was formed to explore the Palmer volcanic massive sulfide property when the company was incorporated in March 2006. The Palmer Project, located about 35 miles northwes...
