Key step for Palmer project
Constantine Metal Resources has released a preliminary economic assessment, or PEA , for its proposed $418 million Palmer copper-zinc-precious metals project near Haines, in southeast Alaska. This is a key regulatory step for the project. Dowa Holdings, a Japanese metals company, is a partner in the project. An underground mine is proposed that would produce 3,500 metric tonnes of ore per day and 12.5 million metric tonnes per year. A tonne is about 2,200 lbs. compared to the more common ton, a unit of measurement of 2,000 lbs. Of the capital investment, $278 million would be needed initially to build the mine with another $140 million needed in ongoing capital investment, according to the PEA. Operating costs are estimated at $65 per produced tonne against projected income of $92 per produced tonne, the PEA said.

A key advantage for Palmer is the nearby paved Haines Highway and access to a deep-water shipping point at Haines, which is 40 miles away. If built, Palmer would employ about 260 in production and would be a major boost for the Southeast regional economy.

Mining fees hiked on state lands
The state Dept. of Natural Resources will increase minerals fees on state lands in an inflation-adjustment. The last increase was in 2009. Adjustments are required every ten years under a state statute. The amounts of the increases will be announced when the 2019 inflation figure is available, which is expected in July.

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Federal officials revoked 1972 public land orders that closed 1.3 million acres of lands in east Interior Alaska to mining. The lands will now be open for exploration within 30 days.