Minerals
Fort Knox Mine to see $100 million investment and expansion
Kinross Gold Corp. announced June 12 a $100 million expansion of the Fort Knox gold mine near Fairbanks. The project will add approximately 1.5 million ounces of gold to the mine’s ultimate recov- ery and extend the mine life to 2030, Kinross said. Kinross described Fort Knox as one of its best-per- forming properties. The land that will be used for the expansion was formally owned by the federal government. It was transferred to the State of Alas-
ka last December. Work on the expansion will begin in the third quarter of 2018. Engineering for the project is largely complete and contracting is underway, Kinross said in a statement.
Fort Knox has been producing for almost 20 years. It is one of Fairbanks’ major employers with 630 working at the mine, and is the largest single taxpayer in the Fairbanks North Star Borough.
***
Pebble changes its mine plan
Pebble Partnership has proposed some changes to its mining plan submitted Last December to the U.S. Army Corps of Engineers. The new plan would cut peak mining rates from 90 million tons per year to 75 million tons but the milling rate would increase from 160,000 tons per day to 180,000 tons per day. The higher mill rate will need more power, so that has been increased from 230 megawatts to 270 megawatts. The mine pit will be slightly larger than the maximum 6,500-foot by 5,500-foot length and width and 1,750-foot depth.