The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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In a year that has started off with more than its share of mining industry gloom and doom, this year's Fraser Institute "Survey of Mining Companies, 2012/2013" provided a bit of sunshine for Alaska. The annual survey of exploration and mining companies gauges the pros and cons of working in various political jurisdictions around the world. This year's results came from 742 mineral industry companies working in 96 jurisdictions worldwide and represented cumulative 2012 explorat... Full story
The mining industry just passed through one of the quietest year-end transitions in over a decade. The last month has seen few new public announcements regarding Alaska mineral occurrences but that relative silence is about to change. Within a week of completing this summary, the 2013 Cordilleran Roundup mineral convention will begin in Vancouver, B.C. This annual event is well-attended by individuals and corporations that are active in Alaska's mineral industry or looking to...
Ending a streak of robust growth, mineral exploration spending in Alaska during 2012 took a downward turn from the record US$300 million spent a year earlier. "More advanced-stage projects that added ounces or pounds to their resource base had a better go of it than early-stage exploration projects which have taken a hard right cross to the jaw!" Curt Freeman, a well-known Alaska geologist and president of Fairbanks-based Avalon Development, observed in September. This blow de...
Millrock Resources Inc.'s skillful execution of the project generator model is allowing it to flourish in an equity market that has not been kind to junior exploration companies. Capitalizing on its exploration expertise and first-hand geological knowledge of Alaska and southeastern Arizona, Millrock pulled together some C$11 million for exploration in 2012. Some 93 percent of this spending was funded by global miners Teck Resources Ltd., Kinross Gold Corp., Vale S.A. and Inme...
TSX-V: MRO President and CEO: Gregory Beischer Chief Exploration Officer: Philip St. George Chief Operating Officer: Sarah Whicker Properties with mineral(s) explored - Gold - Estelle, Alaska Gold-Copper - Humble, Alaska Gold - Council, Alaska Gold-Copper - Audn, Alaska Gold - Bluff, Alaska Gold-Copper - Cristo Claim Group Gold - Uncle Sam, Alaska Gold - Revelation, Alaska Gold - Fortymile, Alaska Gold-Copper - Stellar, Alaska Copper-Gold - Distin, Alaska Copper-Gold - Renegade, Alaska Copper-Gold - Galiuro, Arizona...
From investigating grassroots gold prospects in the Yukon Territory to ensuring the Red Dog Mine has sufficient stores of high-grade ore to remain a top global zinc producer for decades to come, Teck Resources Ltd. 2012 is continuing a century of discovery in Alaska and Canada's Northwest. This broad spectrum of exploration across Alaska, British Columbia and Yukon Territory exemplifies the Vancouver, B.C.-based major's objective of accessing "high-quality, sustainable growth... Full story
Over the past six months, the single-most common question I have gotten asked about Alaska's mineral industry is, "Have there been any significant new discoveries?" While there may be an as-yet unannounced new discovery in Alaska, it seems the above question is being asked more frequently in other parts of the world as well and the most common answer is a simple "no." While information on new discoveries in other sectors of the mining industry is out there, it's not as...
As the first cooler days and termination dust start appearing across Alaska, seasonal exploration activities are winding down and operating mines are preparing for another winter. To be sure, less money was spent on fewer projects by the mineral industry exploring and developing Alaska's mineral resources in 2012 versus 2011. More advanced-stage projects that added ounces or pounds to their resource base had a better go of it than early-stage exploration projects which have...
Over a year ago, Natural Resource Holdings published a report entitled "How Rare are One Million Ounce Gold Deposits?" At that time, the publisher ranked 296 gold deposits that have more than 1 million ounces of gold in all resources categories. The same firm recently published a follow-up report titled, "Global Gold Mines & Deposits 2012 Ranking." The report ranks gold deposits above 1 million ounces, whose numbers have increased to 439 deposits with total resources of...
In a long overdue step to bring Alaska into the 21st Century, state and federal agencies met in late June to discuss collaborative funding strategies for Alaska's Statewide Digital Mapping Initiative, an enterprise designed to create Alaska's first high-quality digital topographic map. The roundtable was convened by Alaska Lt. Gov. Mead Treadwell and the Assistant Secretary for Water and Science, U.S. Department of Interior. Alaska remains the only state in the United States... Full story
If you are looking for proof that the mining industry is experiencing unparalleled changes, look no further than "Mine 2012: The growing disconnect," the 9th edition of PricewaterhouseCoopers' annual report on the global mining industry. This recently released report indicates that in 2011 the top 40 global mining companies posted record profits of $133 billion and generated record operating cash flows of $174 billion. However, over the course of the year, market...
While most juniors are cinching their belts and scaling back programs, Millrock Resources Inc. has C$7.5 million of exploration slated for its array of gold and copper-gold properties in Alaska in 2012, not to mention a healthy C$4.5 million budget for its copper-gold prospects in Arizona. Millrock President and CEO Greg Beischer said the scarcity of venture capital available to the junior exploration sector was palpable at the Cambridge House World Resource Investment... Full story
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...
After an extremely busy, productive year, the final weeks of 2011 and the first few weeks of the New Year were remarkably quiet for Alaska's mining industry. But not to worry, it appears to be just a pause, while everyone catches their breath before heading into what promises to be another eventful year. While reading the plentiful (and sometimes bizarre) end of year reviews and forecasts, I came upon one that surprised me. In a Dec. 30 news release, Reuters noted that gold... Full story
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... Full story
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... Full story
Is the "Yukon Gold Rush" about to spill into Alaska? Since the 1896 discovery of gold on the aptly named Bonanza Creek sparked a stampede of fortune seekers to the rivers and streams of the Klondike, these world-class mining jurisdictions that share a common geological and mineralization history have been engaged in a cross-border rivalry of drawing prospectors and miners to their mineral-rich deposits. While 19th Century miners seeking their fortunes in Alaska's Fortymile...
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...
Kiska Metals Corp. is not only enduring Alaska's sometimes inclement winter weather but also embracing the ground-freezing conditions as a means to lower the costs of exploring the multitude of porphyry targets across its expansive Whistler copper-gold property about 160 kilometers (100 miles) northwest of Anchorage. "Although it is Alaska, winter is one of the most efficient times of the year for us to be working up there," Kiska Metals President and CEO Jason Weber... Full story
Millrock Resources Inc. is artfully implementing the science of making grassroots gold and copper discoveries, proving the promise of these new finds and vending the prospects to other companies to do the heavy lifting of defining a deposit. This business model is paying off for the project generator. Some US$11 million is being spent on exploring its Alaska copper and gold prospects in 2011, with nearly US$10 million funded by its project partners. Senior miners Teck...
From deploying its own geologists to make grassroots discoveries to partnering with junior explorers with strong geological know-how and enticing projects, Teck Resources Ltd. is seeking new high-quality deposits of zinc, copper and gold across Alaska and Canada's North. "In terms of our overall exploration strategy, it has three parts to it: One is doing our own grassroots, regional exploration; the second arena we get involved with is joint ventures with junior companies; an... Full story
KGC: NYSE/K: TSX Chairman: John Oliver President and CEO: Tye Burt Director of North America Exploration: Al Kirkham From the humble beginnings of a greenfield copper-gold project in Southwest Alaska to adding years of gold production to its Fort Knox Mine in the heart of the Tintina Gold Belt, Kinross Gold Corp. is spending some US$17 million in search of valuable minerals in the Yukon Territory and the neighboring Far North state. About US$8 million of Kinross' 2011 exploration budget was earmarked for seeking new sources...
RYG: TSX-V Chairman: Murray John President: Shawn Ryan CEO: Michael Skead, MAusIMM Vice President Exploration: Ian Gendall, Pr. Sci. Nat. Ten-year-old junior, Valdez Gold (Yukon) Inc., merged with Ryan Gold Inc. in December to form Ryan Gold (Yukon) Inc., an international natural resource company focused on identifying and successfully defining and developing mineral deposits in Canada, the United States and other geologically attractive and politically stable investment climates. In April the new company signed purchase,...
President: Nori Ushirone Pogo General Manager: Chris Kennedy Pogo Chief Geologist: Paul Jensen Looking beyond just replacing the more than 1,000 ounces of gold per day that it is recovering at its Pogo Mine, Sumitomo Metal Mining Pogo LLC - a partnership held 85 percent Sumitomo Metal Mining Co. Ltd. and 15 percent by Sumitomo Corp. - is seeking out other gold and silver deposits in Interior Alaska. This regional exploration was underscored by the gold-silver-antimony mineralization cut by the Japanese firms at their Stone...
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... Full story
