The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Dolly Varden Silver Corp. June 11 announced that Eric Sprott and Hecla Mining Company participated in two private placement financings that raised C$7.68 million, which will primarily go towards further exploration and resource expansion at the company's Dolly Varden silver property in northwestern British Columbia. Situated 46 kilometers (29 miles) southeast of Stewart, the Dolly Varden property covers historic high-grade silver mines that date back to the early 20th century....
A more than 10,000-meter drill program focused on exploring new zones of high-grade silver and expanding the resources already outlined was the centerpiece of Dolly Varden Silver Corp.'s 2020 exploration across its namesake property south of Stewart, British Columbia. The roughly 8,800-hectare (21,745 acres) Dolly Varden property covers four historic mines that produced more than 19 million ounces of silver over four decades beginning in 1919. Four deposits associated with...
Dolly Varden Silver Corp. May 7 announced the start of a 2021 exploration program that includes a planned 10,000 meters of drilling that will initially focus on upgrading and expanding the Torbrit silver deposit on its Dolly Varden project in Northern British Columbia. Located about 25 miles (40 kilometers) southeast of Stewart, the roughly 8,800-hectare (21,745 acres) Dolly Varden property covers four historic mines that produced more than 19 million ounces of silver over fou...
From a world-class graphite deposit in the Northwest to rare earths on the Southeast Panhandle, Alaska has the potential to offer a sustainable and secure supply to meet the coming explosive demand for the minerals and metals crucial to the renewable energy and electric vehicle sectors in North America and around the globe. International Finance Corporation, part of the World Bank Group, estimates that this shift to low-carbon energy and electric mobility will create nearly...
Hecla Mining Company April 8 reported that its Greens Creek Mine produced 2.6 million ounces of silver and 13,266 oz of gold during the first three months of 2021. The Southeast Alaska mine's first quarter silver output is down about 7% from the 2.8 million oz produced during the same period last year. The quarterly gold production, however, increased by about 8% over the 12,273 oz produced during the first three months of 2020. Hecla says ore grades, lower for silver and...
Mining and mineral exploration helped to bolster an Alaskan economy plagued by COVID-19 during 2020. According to a report prepared by the McKinley Research Group, a renowned Alaska-based research and consulting firm formerly known as McDowell Group, Alaska's mining industry injected roughly $2 billion into the Alaska economy last year. Commissioned by the Alaska Miners Association and Council of Alaska Producers, "The economic benefits of Alaska's mining industry" report...
Hecla Mining Company Jan. 13 reported that its Greens Creek Mine in Southeast Alaska produced 10.5 million ounces of silver in 2020, a 6% increase over the 9.9 million oz produced the prior year and the highest annual production since the Idaho-based company bought full ownership of the operation in 2008. Greens Creek attributed 77% of the 13.5 million oz of silver produced at all of Hecla's operations during 2020. This helped to push companywide silver production well above...
Continuing a tradition of growth, Hecla Mining Company entered 2020 with 37.08 million metric tons of proven and probable reserves averaging 212.2 million ounces of silver, 2 billion pounds of zinc, 1.6 billion lb of lead and 2.71 million oz of gold – historic levels of silver reserves for the 129-year-old mining company. This is an 11% increase in silver reserves, even after replacing the 15.4 million oz of silver mined (12.6 million oz produced) during 2019, despite using a...
Whether it is the exponential growth in electric vehicles traveling global highways, the massive need for storing energy at solar and wind electrical generating facilities, or cutting the cords on our electronic devices, the world is becoming increasingly dependent on lithium-ion batteries. And this is driving up the demand for cobalt, a critical safety ingredient in the cathodes of these energy storage cells. "Globally, the leading use is in the manufacture of cathode materia...
Despite COVID-19 restrictions and protocols changing how it must conduct its business, even temporarily shutting down operations at its Casa Berardi Mine in Quebec and San Sebastian Mine in Mexico, Hecla Mining Company now expects to produce more gold and silver than it forecast at the onset of 2020. Based on production through the first three quarters, the Idaho-based miner now expects to produce nearly 13 million ounce of silver and 210,000 oz of gold this year, up from the...
Rising metal prices are helping to soften the blow COVID-19 has landed on Alaska's mining sector in 2020. While mining has been deemed an essential business in Alaska, which has helped keep the six large mines in the state operating during the pandemic, measures put in place to slow the spread of COVID-19 are weighing on production at some of these operations. Efforts to flatten the curve on the spread of coronavirus also disrupted several winter drill programs in Alaska,...
Hecla Mining Company July 10 said silver production at its Greens Creek silver mine exceeded expectations during the first half of 2020, due to the higher grade ore mined there. The Southeast Alaska operation produced 5.53 million ounces of silver during the first six months of this year, a 20% increase over the 4.61 million oz produced during the first half of 2019. During the three months ending June 30, Greens Creek produced 2.75 million oz of silver, a 16% increase over...
Mining found its way to the remote Kitsault Valley in northwestern British Columbia around 1910, bringing with it the ups and downs typical of mining regions in a bygone era. Roughly 29 miles southeast of Stewart and just outside of reach of the Golden Triangle, this area of B.C. has proven to be a treasure chest of minerals such as silver, gold, copper, zinc, lead, and molybdenum for more than a century. The first boom in the Kitsault Valley came with the Dolly Varden silver...
Global metal production has been severely disrupted due to government mandated suspension of mining operations in response to the COVID-19 pandemic. According to figures released by GlobalData, 32 countries have passed partial or complete lockdown orders that by April 3 had led to the temporary suspension of activities at over 1,600 mines. Silver is the hardest hit by global government lockdowns, with the equivalent of 65.8% of annual global production of this industrious...
While the COVID-19 outbreak is unique in terms of the government and societal response, Hecla Mining Company has dealt with pandemics over its 129-year history and had a plan that was implemented early on at its five mines in the United States, Canada and Mexico. "Hecla's quick response to the COVID-19 outbreak began in February and has protected our workforce, enabling them to continue to safely operate our mines," said Hecla Mining President and CEO Phillips Baker, Jr. Due...
Hecla Mining Company March 19 announced that it has taken measures to ensure its silver and gold operations in Alaska, Idaho, Mexico and Quebec can weather COVID-19, along with the market and logistical disruptions that come with it. These de-risking measures include: • Securing contracts that guarantee a US$16 per ounce silver price and US$1,450/oz gold price for the second quarter of this year, and US$1,650/oz gold for third quarter, while maintaining exposure to the u...
Crashing markets, quarantines, closed offices and cancelled events are reverberating across the North of 60 Mining sector in the wake of the World Health Organization declaring the coronavirus strain officially known as COVID-19 a global pandemic. At first, the effects of COVID-19 on mining in Alaska and across Canada's North was being felt mainly by the precipitous drop in the share price of mining companies doing business here – a plunge that is being further fueled by a S...
The incredibly interesting history of Juneau is a tale of gold, the persistence of a Tlingit chief and a series of chance events that allowed Alaska's future capital to grow and leave its mark on history, a story that continues to be written today. Juneau is home to some of the earliest large-scale gold mining sites in Alaska. But, if you were to ask the pioneers who founded the future capital that their settlement would become the seat of government in a future state of...
Continuing a tradition of growth, Hecla Mining Company has increased its reserves of silver, lead, and zinc to historic levels. Hecla goes into 2020 with 37.08 million metric tons of proven and probable reserves averaging 212.2 million ounces of silver, 2 billion pounds of zinc, 1.6 billion lb of lead and 2.71 million oz of gold. Hecla replaced the 12.6 million oz of silver produced from ore containing 15.4 million oz and increased reserves by 11 percent during 2019, despite u...
Hecla Mining Company Jan. 7 reported that its Greens Creek Mine in Southeast Alaska produced 9.9 million ounces of silver in 2019, a 24 percent jump over the 8 million oz produced the prior year and the highest annual production since the Idaho-based company bought full ownership of the operation in 2008. Greens Creek also produced 56,624 oz of gold last year, a 10 percent increase compared to the 51,493 oz produced in 2018. The Southeast Alaska mine also produces appreciable...
As the year winds down, mineral industry evaluations for 2019 are being published at a rapid rate. One of the most interesting such global reviews is EY Global Mining and Metals' annual "risk radar" for mining and metals, outlining what mining companies perceive as the top ten risks facing them in the near future. This publication stated that, for the second straight year, "social license to operate" remains the number one risk facing mining companies in 2020. This was...
An abnormally long fall has allowed the Alaska mining industry to extend seasonal work well into mid-October, creating a lot of new information about project work conducted around the state. Exploration efforts, in particular, benefitted from this additional field time. Based on information available to date, 2019 exploration expenditures are expected to be in the $135-140 million range, well ahead of the $120-125 million exploration spending tracked for 2018. In addition,...
Hecla Mining Company Oct. 7 reported that its Greens Creek Mine in Southeast Alaska produced 2.54 million ounces of silver during the third quarter, a 36 percent increase over the 1.88 million oz produced during the same period of 2018. Through the first nine months of 2019, Greens Creek has produced 7.15 million oz of silver. This is up 24 percent compared to the first three quarters of last year and puts the Southeast Alaska operation on pace to produce 9.5 million oz of...
As the rest of the country suffers through the Dog Days of summer, Alaska is approaching the end of a topsy-turvy summer season that saw unseasonably hot, dry weather in some parts of the state during some parts of the summer, while other parts of the state have seen record rainfall and unseasonably early snowfall. Gold prices have skyrocketed over the $1,500 per ounce mark and silver prices have moved strongly up, now trading at a one-year high. However, copper and zinc are a...
Hecla Mining Company's Greens Creek Mine in Southeast Alaska has enough reserves to keep the high-grade underground silver mine in operation until 2030. The Greens Creek Mine now has 9.23 million tons of proven and probable reserves averaging 11.5 oz/t (107.1 million oz) silver; 0.09 oz/t (840,000 oz) gold; 7.6 percent (706,470 tons) zinc; and 2.8 percent (227,740 tons) lead. This marks the highest silver reserves for Greens Creek since Hecla bought full ownership of the...
