The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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The owners of Alaska’s five large metal mines – Sumitomo Metal Mining Pogo, Hecla Mining Company, Kinross Gold Corp, Teck Resources Ltd. and Coeur Mining Inc. – accounted for nearly half the US$92 million of exploration spending in the state during 2014 and similar investments by these companies is providing solid footing for the Far North state’s mineral exploration sector this year. Avalon Development President Curt Freeman said he is seeing more mining majors shopping for d...
Although news from the mining industry is generally limited this time of year, several items of import over the past month bear discussion. Alaska suffered a tragedy with the recent passing of mineral industry giant Chuck Hawley, one of Alaska's most talented and respected geologists. Although Chuck loved the mineral exploration game, he was far more than a geologist to many of us and to the state. His plus-50-year love affair with Alaska spanned some of the state's most...
Instead of putting up taller fences along the roughly 800-mile (1,300 kilometers) border between Alaska and British Columbia, the neighbors are building a larger negotiating table to work out concerns over the potential development of mines in Northwest B.C. watersheds that drain through Southeast Alaska. The framework for this increased cooperation was laid out in a memorandum of understanding signed by the neighbors Nov. 25. “British Columbia and Alaska share a lot of c...
Over the past month, three of Alaska's large mines reported strong quarterly results; two projects in advanced permitting and pre-feasibility reported recent progress; and three exploration properties changed hands. The latter is a trend putting 2015 on course to be one of the most active years for new acquisitions in the past decade. Placer gold production has all but ceased for the year; however, output from Alaska's placer mines is not likely to be known with any certainty...
As exploration across most of the North continues to trend downward, the Yukon Territory is celebrating the second straight year of increased spending. Early estimates put exploration in Yukon at about C$99 million for 2015, up roughly 20 percent over the C$80 million spent last year. With a wide swath of zinc-rich deposits in the Selwyn basin, a number of copper-rich porphyries in the Dawson Range, platinum group metal-nickel deposits in the southwest and gold deposits...
Teck Resources Ltd. Feb. 11 reported that the Red Dog Mine produced 567,000 metric tons of zinc in 2015, roughly five percent less than the 596,000 metric tons produced in 2014. While ore grades and recoveries were up slightly at the Northwest Alaska operation, mill production was down. Likewise, lead production at Red Dog was down about four percent from 112.5 metric tons in 2014 to 117.6 metric tons in 2015. The zinc sold by Teck in 2015 averaged US87 cents per pound, down 1...
Novagold Resources Inc. Jan. 28 reported year-end 2015 financial results and provided project updates for its 50 percent-owned Donlin Gold and Galore Creek projects. Novagold's highlight for the year was the publishing of a draft environmental impact statement for the Donlin Gold project. "Our most important achievement in 2015 was the publication of the Donlin Gold draft EIS, a major milestone in the permitting process for the project," said Novagold President and CEO Greg...
Millrock Resources Inc. Jan. 29 reported that partnership agreements on its Alaska Peninsula and Estelle copper-gold exploration properties in Alaska have been allowed to lapse. After reviewing the results from the first round of drilling, First Quantum Minerals has elected not to renew its option to acquire a joint venture interest in the Alaska Peninsula property. No mineralization of significance was discovered in drilling at the Mallard Duck Bay prospect. Mineralization...
Teck Resources Ltd. has won recognition as one of the Global 100 Most Sustainable Corporations for the fourth consecutive year by media and investment research company Corporate Knights. Teck is the top-ranked company in the metals and mining category and the second-ranked Canadian company on this year's Global 100 list. "Our focus on sustainability is an important part of our overall efforts to improve efficiency and reduce costs to ensure we emerge stronger from current challenging market conditions," said Teck President...
On Jan. 12, 2006, the first ore from high-grade underground gold reserves was fed into the mill at the Pogo Mine located near the community of Delta Junction in Alaska's Interior region. Ten years, four floods, two fires and some 3.1 million ounces of gold later, the operation is seen as an example of mining done right. Pogo General Manager Chris Kennedy shared a decade of travails and triumphs, and the lessons learned, during a presentation at the Jan. 21 Resource...
The Red Dog Mine in Northwest Alaska is highly regarded as an example of a mining company and local aboriginal interests sitting down at the negotiating table and working out a deal that serves the economic and social interests of both. A steep tax hike, however, threatens to shorten the life of the world-class zinc mine and thereby the partnership forged between Teck Resources Ltd. and NANA Regional Corp. The tax increase was introduced recently by the Northwest Arctic...
Diesel has long been the fuel of choice for the enormous haul trucks, dozers, shovels and other equipment that most mines use. Many industry leaders, however, are looking ahead to natural gas as an economically and environmentally friendlier source of energy for the colossal machines. "LNG (liquefied natural gas) is a fuel source that has the potential to lower costs, significantly reduce emissions and improve environmental performance at our operations," said Teck Resources...
A four-year rout in metals, coal and oil prices left Alaska's mining community digging deep for reasons to be optimistic during their annual gathering at the Alaska Miners Association convention in Anchorage. While depressed metals prices naturally cut into the bottom lines of those companies mining gold, silver, zinc, lead and coal in Alaska, the effects reverberate across the entire mining community. In order to adjust to lower metals prices, the producers have cut back on...
Teck Resources Ltd. Oct. 22 reported a third-quarter loss attributable to shareholders of C$2.1 billion (C$3.73 per share) due to non-cash after-tax impairment charges of C$2.2 billion. The impairment charges are non-cash revaluations of assets to reflect lower market expectations of commodity prices. The prices of all of Teck's major commodities - steelmaking coal, copper and zinc - continued to fall during the third quarter. To meet the challenge of low prices, the company...
Skeena Resources Ltd. Oct. 26 reported assay results for nine holes of its 61-hole drill program at the Spectrum gold project in the Golden Triangle of northwestern British Columbia. Hole S15-049, drilled towards the south end of the Central Zone, cut four intervals with greater than 5.0 g/t gold between 197 and 232 meters. The best intercept of hole 49 was 14 meters grading 7.82 g/t gold. Hole S15-048, drilled above S15-049 on the same section, was abandoned due to drilling...
From an expanding ownership interest in one of the largest producing zinc mines on the planet to grassroots gold exploration, NANA Regional Corp. is delving into all phases of mining across the 24.3 million acres of extremely minerals-rich land in Northwest Alaska. During the past 26 years, this Alaska Native regional corporation and the more than 13,800 Iñupiat shareholders whose forebears settled the northwest corner of Alaska thousands of years ago have enjoyed some...
Mineral and coal exploration spending in British Columbia has dropped nearly 30 percent a year since reaching a pinnacle of C$680 million in 2012, mirroring the downward trend seen during the same period in global exploration expenditures. Mineral-rich B. C., however, is preparing to take advantage of the next upswing in metals markets. In June, British Columbia Energy and Mines Minister Bill Bennett said the province will provide Geoscience BC with C$5 million in additional...
Skeena Resources Ltd. entered 2015 with a mission - outline at least 2.0 million ounces of high-grade gold at its Spectrum property located in the Golden Triangle region of northwestern British Columbia. Skeena Chairman Ron Netolitzky is no stranger to this metals-rich corner of B.C. In fact, he is a 2015 Canadian Mining Hall of Fame inductee, an honor that is largely due to his finding two world-class mines - Eskay Creek and Snip - in the Golden Triangle. The legendary prospe...
czx:TSX.V chairman, President and CEO: Peeyush Varshney vp, exploration: Ken MacDonald director: John Thomas Canada Zinc Metals Corp. is focused on exploring a band of zinc-lead-silver properties that blankets 79,870 hectares (197,359 acres) of the Kechika SEDEX belt in northeastern British Columbia. The company has divided this land package into two projects - Akie, which hosts the Cardiac Creek deposit, and the Kechika regional properties, a series of property blocks that extend roughly 140 kilometers (85 miles) northwest...
In 2015, junior exploration companies working in Yukon continued to weather the storm of depressed metal prices and cautious markets. Despite the lack of market enthusiasm, exploration spending maintained historically high levels at C$100 million; although one project, the Selwyn-Chihong Selwyn lead-zinc project in eastern Yukon, accounted for 40 percent of the spending. More than 80 exploration programs were undertaken in the territory, ranging from small grassroots projects to multimillion-dollar programs on advanced...
MRO: TSX.V President and CEO: Gregory Beischer Chief Exploration Officer: Philip St. George Through careful execution of the project generator model, Millrock Resources Inc. has built a portfolio of grassroots mineral prospects in Alaska, New Mexico and Mexico. In finding joint venture partners to help fund exploration, the project generator model lessens Millrock's need to raise money in tight equity markets, minimizes the risks involved with grassroots exploration and exposes shareholders to a larger amount of exploration e...
NG: TSX / NG: NYSE-MKT Chairman: Thomas Kaplan President and CEO: Gregory Lang Executive Vice President: David Deisley Supporting the permitting process for the Donlin Gold project in Alaska continued to be the primary focus of Novagold Resources Inc. in 2015. The U.S. Army Corps of Engineers, the lead agency for the Donlin Gold Environmental Impact Statement, plans to issue a draft EIS for public comment toward year's end 2015 and the final EIS is expected to be completed by early 2017. This puts Donlin Gold LLC - an...
TCK: NYSE/ TCK.B: TSX Chairman: Norman Keevil President and CEO: Don Lindsay VP, Exploration: Alex Christopher Zinc continues to be a primary exploration focus for Teck Resources Ltd. In Alaska, this work is dedicated to extending the life of the Red Dog Mine by upgrading high-grade resources in nearby deposits to reserves and seeking out new deposits in the larger Red Dog area. Going into 2015, Red Dog had 45.4 million metric tons of ore in reserves, averaging 15.8 percent (6.05 million metric tons) zinc, 4.1 percent (1.86...
Novagold Resources Inc. Oct. 6 reported that the U.S. Army Corps of Engineers plans to publish the Donlin Gold draft Environmental Impacts Statement for public comment near year's end. Donlin Gold LLC, the operating company equally owned by subsidiaries of Novagold and Barrick Gold Corp., advanced a number of other major permit applications, including working toward finalizing an air quality permit; completing approaches to water management, treatment, and discharge to facilit...
Kiska Metals Corp. Oct. 6 provided an exploration update on its Copper Joe property in Alaska as well as its Kliyul and Chuchi properties in British Columbia. In partnership with First Quantum Minerals, Kiska recently completed a geological mapping program and a magnetotelluric geophysical survey at Copper Joe, a porphyry copper-gold-molybdenum exploration project located roughly 110 miles (175 kilometers) northwest of Anchorage. Kiska said this work has defined two compelling...
