Wednesday, 12th November 2008 (327 views)

The US state of Alaska had a record-breaking year for mining in 2007, it has been revealed.

A report, entitled Alaska's Mineral Industry 2007, has been produced by the state's division of Geological and Geophysical Services.

Minerals to the value of $3.4 billion (£2.2 billion) were produced, an increase of 18 per cent compared to the previous year.

And the rise has been attributed in large part to gold mining, which doubled the 2006 level at some sites and accounted for $511 million.

Exploration firms spent $329 million on drilling and studying prospects in Alaska, with around half of this going on the Pebble copper and gold prospect in the south-west of the state.

International Tower Hill Mines recently reported positive results from its Livengood gold project in Alaska.

President and chief executive in office Jeff Pontius described "striking" geological similarities between the site and the "world-class" deposits that can be found in Nevada.

 

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