The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 151 - 175 of 242
The winds of change are once again blowing across Alaska's mineral industry, not only because the industry is gearing up for another busy summer season, but also because the mining investment climate has turned from cautiously optimistic to decidedly undecided. The sea change occurred steadily and without a lot of fanfare between mid-January and mid-March. As is always the case, good projects continue to advance with those that are drilling and adding resources or moving throu...
The Fraser Institute's "Survey of Mining Companies, 2011/2012" was recently released to the public. This annual survey of exploration and mining companies gauges the pros and cons of working in various countries around the world. This year's results came from over 800 mineral industry companies working in 93 jurisdictions and representing cumulative 2011 exploration expenditures of over US$6.3 billion. The perception of Alaska from the companies that work here was about the...
There are some new statistics just out from the Alaska Miners Association that I thought you might like to see. For 2011, the Alaska mining industry accounted for 4,500 direct jobs and 9,000 indirect jobs. The industry paid US$620 million in payroll with the average salary totaling US$100,000 per year, which is double the statewide average for all sectors. The industry paid US$148 million in rents, royalties, taxes and other fees to the State of Alaska (up 170 percent over...
While most companies exploring the mineral potential of Alaska and other Far North locales have stacked their drills, winterized camps and are poring over data from their 2011 programs in preparation for the upcoming exploration season, Freegold Ventures Ltd. continues its field program with drills turning at its Golden Summit project in the heart of Interior Alaska. "We just resumed drilling this week with one rig and expect to add the second one early next week," Freegold...
I was tempted to make a few 2012 predictions now that 2011 is nearly gone, but I decided not to when I came across the following lines and was struck by how closely they mimic our current mining climate: "On a more local level, several old Alaska properties have been rejuvenated by new players to the Alaska mineral scene. Reserve announcements have touched off renewed land acquisitions and property negotiations. Contracts for technical personnel, drill rigs, helicopters and...
As a busy year in the Alaska and global mining industry starts to slide closer to its end, I figured now was a good time to gaze into my crystal ball (rutilated quartz, of course) to see what next year might bring. While strong metals prices promise another busy year for Alaska, a dose of global reality was provided by the financial giant Ernst & Young, who recently published a list of the top 10 business risks for the mining and metals industry for the coming year. Resource n...
Whether it is multimillion-ounce gold discoveries, copper deposits that measure in the billions of pounds or massive ore-bodies of 20 percent zinc, Alaska is renowned for its mammoth deposits. The prospect of finding another Donlin, Pebble or Red Dog continues to draw explorers to this vast and underexplored corner of the United States. In the Survey of Mining Companies: 2010/2011, conducted by the Fraser Institute, top executives from 494 mining and mineral exploration...
TSX-V: FVL President and CEO: Kristina Walcott Chief Financial Officer: Gordon Steblin Vice President, Exploration and Development: Alvin Jackson Freegold Ventures Ltd. - a junior focused on gold exploration in Alaska - got a jump on the 2011 exploration season with the February start of a 6,166-meter phase-1 drill program at its Golden Summit project in the Fairbanks Mining District. The project is host to a number of gold occurrences that are similar in age and style to the multimillion-ounce intrusion found at Kinross...
As termination dust settles over Alaska, the diversity of mineral exploration, development and production news this month covers the entire spectrum of mining industry activities. The last of the seasonal early-stage exploration projects are reporting in, a major producing company has entered the state for the first time, Alaska finished its first off-shore mineral lease process in more than a decade, several projects reported on resource definition and feasibility studies, a gold deposit was sold, a ballot initiative aimed...
Despite the abundance of good news from the Alaska mining industry this month, there is an unusual black cloud hanging over the industry that threatens to rain on our parade of projects. Domestic and international markets got a severe case of the jitters during the recent United States debt crisis. The resulting economic uncertainty contributed to significant metal price volatility. For example, the London gold price jumped 20 percent, from about US$1,480 to US$1,770 during the month prior to the debt deferral and has since d...
The last month has seen a massive transition in Alaska from planning to execution, from getting ready to go to the field to boots on the outcrop and drills in the ground. Each year the hustle and bustle of the Alaska summer exploration season subsumes virtually everything else (except the Stanley Cup) as field programs launch around the state. This year has been no different with base metal programs in the Brooks Range, gold programs in Interior Alaska and the Seward...
Although the mining news for the last month was rather on the thin side in terms of volume, a number of significant milestones were reached by the Alaska mineral industry. Over the past 30 days or so, we have had new mineral resources published on three gold deposits and one polymetallic deposit. We've had the first preliminary economic analysis released on a deposit from the Ambler Mining District and the schedule for a second preliminary economic analysis announced for...
A pair of gold discoveries led a torrent of exploration news pouring out of Yukon Territory this year as numerous newcomers joined old hands in the hunt for the yellow metal and other lucrative minerals. "We've entered a new phase of exploration. People are using soil sampling as an unbiased targeting method that is resulting in discoveries of new mineral potential," Yukon geologist Mike Burke, told more than 500 participants in the Yukon Geoscience Forum Nov. 22. The areas where people are looking are expanding as miners...
Alaska's mining industry is entering the final lap for what has turned out to be a more robust than expected year for exploration, development and production. Strong worldwide demand for mined products has certainly helped push metallic and energy minerals prices up, but all is not rosy for Alaska's mineral industry. A recent CNBC report placed Alaska dead last of all the states in terms of overall business attractiveness. We were a dismal 46th of 50 in terms of cost of doing...
Primed for booming exploration for several years, the Yukon Territory appears to have hit big in 2010, both literally and figuratively. Emerging as one of the world's mining hot spots, the Northwest Canada jurisdiction is reporting industry investment exceeding C$120 million. Propelled by record gold prices and key gold discoveries, as well as surging demand in Asia for base metals and a mining friendly government, miners flocked to the territory in growing numbers, bringing generous exploration budgets and fresh theories...
FVL: TSX-V President and CEO: Kristina Walcott Chief Financial Officer: Gordon Steblin Vice President, Exploration: Michael Gross Weighed down with about C$11 million in debt in mid-2009, it appeared Freegold Ventures Ltd. would become another casualty of the market collapse. Stepping into the leadership role, former Freegold Vice President of Corporate Development Kristina Walcott leveraged the value of the company's four gold assets in Alaska and Idaho. Over the course of a few short months, the new president and CEO...
THISTLE CREEK, Yukon Territory - The Bell Jet Ranger helicopter just landed, while the A-Star unloaded passengers before powering down its engines on the other side of the creek. A third, smaller copter whined as its rotors buffeted bystanders with gusts of dust and debris during takeoff. Meanwhile, a small plane soared overhead. Welcome to the Dawson Mining District of central Yukon in early August. Or as one wag joked: "JFK West!" Visitors prepared to tour Kaminak Gold Corp.'s mining exploration camp here as a three-man...
Two seminal events related to the Alaska mining industry occurred in the past month. First, in late June, Coeur d'Alene Mines Corp. reported the commencement of production at it Kensington gold mine near Juneau. The mine has now joined the ranks of large-scale producers here in Alaska but only after lots of years and lots of dollars, capped by a trip to the U.S. Supreme Court! Hat's off to Coeur for its commitment to Alaska and for its desire to do this job right. Secondly,...
As Alaska's mining industry moves into the frenetic summer exploration and development season, the rest of the world is being buffeted by wild financial and commodity "mood swings" that are affecting the metals markets. The big markets shake the little markets and the little markets shake Alaska. Perfect example: the World Gold Council recently reported that China's growing middle class is expected to double its demand for gold for jewelry and investment purposes over the...
I recently attended the Prospectors and Developers Association of Canada convention in Toronto where a buoyant, project-hungry crowd of 22,000 created enough of its own hot air to start the Greenland Icecap melting. In a clear case of anthropogenic global warming, representatives of companies, governments and agencies rolled out their projects in efforts to see and be seen. Alaska was well represented at the conference and should see some new investment interest coming from...
The Alaska Miners Association recently released an economic benefits summary of the Alaska mining industry. This summary indicated that in 2009 the Alaska mining industry provided 3,300 direct jobs along with 5,200 indirect jobs in 120 communities in Alaska with a combined payroll of US$320 million. Average industry jobs came in at US$83,000 per year, which is 85 percent higher than the average Alaska wage and second only to wages in the oil and gas industry. The industry...
Left leaderless and weighed down with about C$11 million in debt in mid-2009, it appeared Freegold Ventures Ltd. would become another casualty of the market collapse of 2008. Many believe this surely would have been the case if not for the tenacity of Kristina Walcott, then the company's vice president of corporate development. Stepping into the leadership role at Freegold, Walcott leveraged the value of the company's four gold assets in Alaska and Idaho. Over the course of a...
As we plunge headlong into a new year and a new decade, the broad economic indicators for the mining industry suggest continued strong prices for most commodities in 2010 followed by slightly lower average prices in 2011 and beyond as supplies catch up to demand. Not surprisingly, the source of much of the commodities demand will be Asia with China and India being the two leading economic engines driving commodity prices. Where Alaska's mining industry fits into this global...
SONORA GULCH - Scattered along the Dawson Range, Northern Tiger Resources Inc.'s nine gold and copper projects are located in one of the Yukon Territory's more affluent mineralized neighborhoods. "It's a great address to be in," said Northern Tiger Resources President and CEO Greg Hayes during a recent tour of the area. "Between Underworld, Minto, Northern Freegold and us, there have been a lot of great drill results over the last year or so." Though the Edmonton,...
Last month we talked about economic impacts of the Alaska mining industry. This month, the world mineral exploration industry is in our crosshairs. Halifax-based Metals Economics Group reported that 2008 worldwide nonferrous mineral exploration reached $13.2 billion, more than 2.5 times the previous peak exploration spending level reached in 1997. Add uranium exploration expenditures, and the total expands to $14.4 billion. Exploration spending would have been even higher...
