THE ALASKA MINER JOURNAL: The publication is member-only news mailed to AMA members, eight times a year, in months when the Magazine is not published. The Alaska Miner Journal is dedicated to those who work in and support the mining industry in Alaska, its commitment to the people, and the resources of our state. Our goal is to disseminate information on responsible mineral development, educating the public about the value of mining, providing information for our membership and the general public, providing policymakers the information they need to understand the mining industry and monitor political and regulatory processes affecting mining in Alaska.
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February 2025 Volume 53, Number 2
Journal of the Alaska Miners Association
Big Things on the Horizon in 2025!
INSIDE: Mineral value produced by Alaska’s mines ramps up to almost $5B in 2024
A Message from the Executive Director
Dear AMA Members and Friends, It’s been a whirlwind of a start to 2025 ... in a great way! We recently spent glorious days at our third annual Juneau Mining Forum, History Night and presentations to the Legislature in Juneau! Many AMA members and interested state officials joined us to learn about Juneau’s long and vast mining history, as well as the state of Alaska mining. AMA also went to Juneau for the Alaska Chamber fly-in and participated in the natural resources panel at the Southeast Conference Mid-Session Summit, discussing issues related to the legislative session and Alaska’s economic sectors. We’ve also traveled to our nation’s capital representing Alaska Miners on Capitol Hill. Even with a new pro-mining administration in Washington, it is more critical than ever to be present and to advocate for you and our industry. More than 40 years ago, Sen. Ted Stevens, speaking at the first Meet Alaska presented by the Alaska Support Industry Alliance, said it’s critical to keep educating the D.C. community: “When the federal government becomes better informed about our nation’s mineral needs and the role that Alaska can play in meeting those needs many of the federal problems facing Alaska miners should become more manageable…Working together we can make sure federal policy makers know the true story about the importance of Alaska’s mineral resources….” A goal I have, and I know we all share, including our partner state resource organizations, for all of these events is to keep telling our great story. During our visits in Washington, our friends and allies shared that it is truly the only thing that will make a difference in terms of reasonable policies for mining. Thank goodness we have so much to work with — great operations, great people and great accomplishments within our Alaska mining family. You all make for a great story and it is a privilege to be able to tell it! On the communications front, AMA continues to host our statewide Zoom calls every other Friday (schedule on Page 22) and our branches are meeting in person, too. These meetups provide an opportunity for each of us to share insights about what we’re working on, what’s going right and what we can improve on for the good of our mining
industry. I encourage you to invite friends to our Zoom calls so they can see all the exceptional things that are being done here in Alaska, at the federal level and even globally. AMA also is working on our 2025 Alaska Miners Handbook and Service Directory, which will be out soon. We can’t wait to share this edition of the Bible of Alaska mining with all of you! Speaking of our partners, please make plans to attend the 41st annual Meet Alaska conference on March 21 at the Egan Center in Anchorage. Rebecca Logan and her Alliance team are great partners with us in advocating for you. It’s going to be a great and informative event about Alaska mining, as well as oil and gas, and furthering our Alaska needs globally. Looking ahead to the rest of 2025, things are looking bright for Alaska’s miners with more support in Washington and abroad for the valuable roles we all play in this industry we dearly love. And it’s never too early to think about Alaska Mining Day, which is May 10. Here’s to a safe and prosperous spring to all of you!
Deantha Skibinski, Executive Director
Executive Board Lorali Simon, President Blake Bogart, First Vice President Houston Morris, Second Vice President Kim Aasand, Treasurer Follow us anytime: Online at AlaskaMiners.org Like us on Facebook at Alaska Miners Association Follow us on Twitter @alaskaminers Follow us on Instagram @alaska.miners
Branch Chairmen Ted Hawley, Anchorage Ethan Trickey, Denali Dave Larimer, Fairbanks Jan Hill, Haines Jason Hart, Juneau Houston Morris, Kenai Ken Hughes, Nome Robert Fithian, Ketchikan/Prince of Wales
The Alaska Miner is the official journal of the Alaska Miners Association, published eight times a year exclusively to our members. It is published in partnership with the Alaska Miners Association by Fireweed Strategies LLC, 4849 Potter Crest Circle, Anchorage, AK 99516. We actively seek contributions from our members and the mining industry. Please email story ideas and photos to Lee Leschper. Advertising Rates and New Tips For advertising information, or to submit news, story ideas and photos, call or email Lee Leschper at 907-957-6025 or Lee.Leschper@FireweedStrategies.com
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Coeur Alaska Establishes Endowment Fund to Benefit Juneau School District
Coeur Alaska employs approximately 380 people and is the second-largest employer in the City and Borough of Juneau.
The Juneau School District is pleased to announce a new endowment fund to support Juneau’s students– the Coeur Alaska Kensington Mine’s Juneau Schools Endowment. The fund was created with an initial $125,000 contribution and will support extracurricular programs for the district’s K-12 students. The Juneau Community Foundation will manage the endowment. Coeur Alaska, owner and operator of the Kensington Mine, has been a part of the Juneau community since 1987. The company is a strong supporter of educational and youth activities and has made monetary donations on an annual basis to many sports teams, clubs, groups, activities, and special projects. The new endowment creates a mechanism to provide long-term sustainable support to Juneau’s school district and students. “Our goal is to bring lasting value to the community in which we work and live. It’s important for us to leave a positive legacy that supports the next generations,” said Rochelle Lindley, Coeur Alaska External Affairs Manager. “The establishment of the endowment fund will enable Coeur Alaska to continue financially supporting Juneau’s students long beyond our life of mine.” The fund’s creation comes at a pivotal time for the Juneau School District, which has faced budget challenges in recent years. With $100,000 donated by Coeur Alaska, and $25,000 generously donated by Coeur Alaska’s partner Triple Flag Precious Metals Corp, the fund will grow in perpetuity to provide support for the district’s auxiliary programs.
“On behalf of the students, staff, and families in the Juneau School District, I would like to express our gratitude to Coeur Alaska for their generous support of student extracurricular programs in the district,” said Frank Hauser, Superintendent of the Juneau School District. “Extracurricular activities play an important role in student engagement and achievement, and we thank Coeur Alaska for supporting our students now and into the future.” The Juneau Community Foundation extends its gratitude to Coeur Alaska for its commitment to Juneau’s students. “We’re excited to partner with Coeur Alaksa to support student activities throughout our school system,” said Amy Skilbred, Executive Director of Juneau Community Foundation. “Investing in our youth strengthens our entire community.” Coeur Alaska’s Kensington Mine is an underground, hard-rock gold mine located in the Berners Bay Mining District, 45 miles north-northwest of Juneau. Coeur Alaska employs approximately 380 people and is the second-largest employer in the City and Borough of Juneau. Coeur Alaska, Inc. is a wholly-owned subsidiary of Coeur Mining, Inc., a U.S.-based, well-diversified, growing precious metals producer with four wholly- owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota. In addition, the Company wholly-owns the Silvertip polymetallic critical minerals exploration project in British Columbia.
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Value of Alaska’s Mines Rises to Almost $5B in 2024
Value of Gold Production About $2.3 Billion Last Year
production values comes from an equally impressive surge in gold prices from an average of $1,943/oz in 2023 to an average of $2,407/oz in 2024. With gold prices continuing to climb to above $2,800/oz and $3,000/oz level prices in the forecast for later this year, the surge in Alaska’s gold production value is expected to continue into 2025. The forecasted continued strength in gold price is expected to be augmented by further rises in ounces produced in Alaska this year. The largest addition of the ounces of gold produced in the state this year is expected to come from Manh Choh, a mine about 200 miles southeast of Fairbanks that came online in mid-2024. Being operated under a joint venture between Kinross Gold
Corp. (70%) and Contango ORE Inc. (30%), Manh Choh is a satellite mine that delivers high-grade ore to the Kinross Alaska mill at the Fort Knox Mine about 20 miles north of Fairbanks for processing. A total of 139,000 ounces of gold and 54,380 ounces of silver were recovered from three batches of ore processed during the second half of 2024. The gold recovered from Manh Choh ore is expected to climb to about 200,000 ounces this year, adding to the nearly 300,000 ounces of gold expected to be recovered from ore mined at Fort Knox in 2025. At the same time, gold output from Northern Star Resources Ltd.’s Pogo Mine, about 85 miles southeast of Fairbanks, is on the rise. The Pogo mill recovered 279,427
being elected. “During my second term, we will continue the fight for Alaska like never before,” he said during the Nov. 8 address to Alaskans. “We will maximize Alaska’s mining potential.” That potential includes more than 100 mineral projects in various stages of exploration, evaluation, and permitting, according to Dave (Zoom) Szumigala, a mineral resources geologist at the Alaska Division of Geological & Geophysical Surveys (DGGS). Zoom told attendees of the AME Roundup mining convention held in Vancouver, British Columbia, in January, that more than $200 million was invested into exploration and other activities needed to advance these projects closer to production during 2024. While not all the projects in the Alaska mineral production pipeline will make it across the finish line, and others are likely decades away from production, there are plenty of extraordinary mineral projects ready to be unleashed over the coming years. In the meantime, Alaska’s eight hardrock metal mines, one energy fuel mine, 150 placer gold mines, as well as numerous sand, gravel, and rock quarries contributed to a banner year in 2024. At the cusp of 1 million oz gold The opening of the Manh Choh Mine, increased production at Pogo, and climbing precious metals prices combined to push the value of gold produced in Alaska to about $2.3 billion in 2024, a 64% surge over the $1.4 billion of the precious metal produced in the state during 2023. Alaska’s hardrock and placer mines produced approximately 959,000 ounces of gold during 2024, which is roughly 32% higher than the 728,000 ounces produced in 2023. The rest of the boost to Alaska gold
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Photo Courtesy Kinross Alaska Alaska’s mines, including Manh Choh Mine, pushed the total value of the state’s mining operations to $4.8 billion last year.
By North of 60 Mining News At a value of roughly $2.3 billion, gold dethroned zinc as the most valuable metal produced in Alaska during 2024. While zinc had a strong year both in terms of tons produced and total production value, the galvanizing metal was surpassed by gold due to rising prices and production of the precious metal. Thanks in large part to a surge in gold production value, the U.S. Geological Survey (USGS) calculates that the total value of non-fuel minerals produced in Alaska last year — gold, zinc, silver, lead, and sand and gravel products — at $4.7 billion. When you add in the coal produced for in-state power plants, the total value of all the materials extracted at Alaska mining operations during 2024 comes in at around $4.8 billion. This is a roughly 13% increase over the $4.25 million of mined commodities produced in the 49th State during 2023. However, due to likely drops in production from the Red Dog zinc mine beginning this year, Alaska’s mine production value has likely reached its apex until
a new source of ore for the world-class operation in Northwest Alaska becomes available or the next generation of mines comes online. During his State of the State address, Alaska Gov. Mike Dunleavy pointed to one such project that could contribute to Alaska’s mine production value by the end of the decade. “The Graphite One deposit, the largest in North America, north of Nome, continues to move ahead with support from a Defense Department grant,” he said. “Construction could begin in that project by 2027 and the mine could be producing as early as 2029.” In addition to being on Gov. Dunleavy’s radar, the Graphite Creek project being advanced by Graphite One Inc. fits within the domestic critical mineral priorities outlined in the “Unleashing American Energy” and “Unleashing Alaska’s Extraordinary Resource Potential” executive orders signed by President Donald Trump on his first day back in the Oval Office. The Alaska-centric executive order follows up on a commitment made by the President two days after
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Greens Creek Mine Near Juneau Still Largest Silver Mine in North America
Usibelli Coal Mine Continues to Produce Vital Resource for Power
Continued from Page 7
infrastructure needed to advance exploration at Anarraaq and Aktigiruq. With the issuance of the permit, Teck has begun the construction of 12 miles of roads to these large deposits that could extend the world-class Red Dog zinc-lead- silver-germanium mine deeper into the 21st century. “We are advancing studies to extend the life of the operation, having commenced construction of an all- season access road to more efficiently drill the nearby Anarraaq and Aktigiruq deposits, which are critical to the extension of the mine life of Red Dog,” Teck wrote. Development of these deposits is also critical to galvanizing Alaska’s position as a globally significant zinc producer deeper into the 21st century. America’s largest silver mine While the roughly $427 million of silver recovered at Alaska mines during 2024 pales in comparison to the value of zinc and gold produced in the state, the Greens Creek Mine near Juneau is the largest primary silver mine in North America and one of the biggest in the world. “It’s hard not to love Greens Creek because it’s just a fabulous asset,” said Rob Krcmarov, who was appointed as Hecla Mining President and CEO in November. This world-class mine about 20 miles south of Alaska’s capital accounted for approximately 9 million of the approximately 15 million ounces of silver produced in the state last year. Most of the balance was produced as a byproduct at Red Dog. The silver-forward Greens Creek and zinc-forward Red Dog mines also produced a combined 126,000 metric tons (277.8 million lb) of lead as byproducts last year. Roughly 110,000 metric tons (242.5 million lb) of this lead was recovered at Red Dog, with the balance coming from Greens Creek. Hecla has also added copper to the traditional gold, zinc, and lead byproducts of the silver produced at Greens Creek. While copper has long been present at Greens Creek, it has never been a payable metal in the silver concentrates produced. As a result of being considered a payable metal, 400 tons (800,000 lb) of byproduct copper was produced at the Southeast Alaska mine during the third quarter. While Hecla has not yet released its final production numbers for 2024, it is anticipated that the Southeast Alaska mine’s copper output is expected to be north of 1,000 tons (2 million lb) for the year. While the value of the copper recovered at Greens Creek does not move the dial when it comes to the total mine production value in Alaska, it marks the first recordable production of the energy transition metal in the 49th State in recent years. Considering the billions of pounds of copper hosted in
ounces of gold last year, a 10% increase over the 254,492 recovered during 2023. The ongoing improvements in performance at Pogo are expected to continue into 2025. “The Pogo plant is forecast to operate at a targeted throughput of 1.4 million tonnes per annum,” said Northern Star Resources Managing Director Stuart Tonkin. This milling rate, with ore grades similar to last year, would put Pogo on the cusp of hitting 300,000 ounces of gold during 2025. “So, we’re pretty happy with where Pogo is at,” Tonkin said. Three hardrock mines in Southeast Alaska – Coeur Mining Inc.’s Kensington, Hecla Mining Company’s Greens Creek, and Sundance Mining Group’s Dawson – produced approximately another 162,000 ounces of gold last year. When you add in the gold recovered from around 150 placer operations across the state, Alaska mines were on the cusp of producing 1 million ounces of gold during 2024 – a milestone that is expected to be reached this year. Alaska zinc output dips While zinc relinquished its status as the most valued metal produced in Alaska, both the quantity and value of the critical galvanizing metal produced in the state rose last year. Red Dog Mine produced 555,600 metric tons (1.22 billion pounds) of zinc during 2024, a 3% increase over the 539,800 metric tons (1.19 billion lb) produced in 2023. When you add in the roughly 47,000 metric tons (103.6 million lb) produced as a byproduct at the Greens Creek silver mine, Alaska operations accounted for around 5% of the global supply of zinc, a metal considered critical to the U.S. Teck anticipates that Red Dog’s zinc output will drop to about 450,000 metric tons (992,000 million lb) this year, 18% lower than in 2024. Red Dog zinc production is currently expected to drop to 300,000 (661,400 million lb) by 2028 and to zero when the current reserves are exhausted. However, the Aktigiruq and Anarraaq satellite deposits on state lands held by Teck could elevate the Northwest Alaska operation back to a top global zinc producer in the coming years. Aktigiruq, which lies about nine miles north-northwest of the current Red Dog operation, is one of the largest undeveloped zinc deposits on Earth and hosts grades similar to the deposits that made the Northwest Alaska mine a world-leading zinc producer. In mid-December, the U.S. Army Corps of Engineers approved permits for the construction of road and other
Photo Courtesy Usibelli Coal Mine
Unleashing Alaska’s mineral potential Unleashing Alaska’s mineral and other resource potential is so high on the Trump administration’s priority list that the President signed an executive order addressing this on his first day back in office. “President Trump singled out Alaska out of all the 50 states for its own series of Executive Orders,” Gov. Dunleavy said during his State of the State address. “This is unprecedented — and demonstrates his view of the importance of Alaska as a solution to America’s energy, manufacturing, and national security issues.” On the minerals side of that solution, DGGS has identified 110 projects on the Alaska mine development pyramid — 55 early-stage mineral exploration projects, 37 mid- to advanced-stage exploration projects, six mineral projects in the economic evaluation stage, four in permitting, and eight in production pinnacle of the pyramid. According to preliminary data compiled by DGGS, roughly $205 million was invested last year into pushing mineral exploration projects toward the top of this pyramid. This figure, which is slightly lower than the approximately $230 million invested in 2023, will rise somewhat when late-year exploration figures are included. Alaska’s 2024 mineral exploration numbers would have been higher if the federal government had not reversed previously issued federal permits to build a road to the Ambler Mining District, a region of Northwest Alaska enriched with copper, zinc, silver, gold, cobalt, germanium, and other minerals critical to America’s economic well-being and national security.
Arctic, Bornite, Caribou Dome, Pebble and other deposits across the state, the newly payable byproduct at Greens Creek could mark the beginning of a new era of producing the essential energy transition metal in Alaska. Usibelli keeps Railbelt lights on For residents, businesses, and communities living along the Alaska Railbelt, the roughly 1 million tons of coal produced at Usibelli Coal Mines operations near Healy has a greater significance than the roughly 2% it contributed to Alaska’s mineral production value in 2024. Usibelli’s significance rests on a paradox that is similar to the discrepancy between Alaska’s world-class copper resources and nearly non-existent production. The paradox that makes Usibelli so valued to Alaska Railbelt energy customers is Alaska has both world-class reserves and a shortage of natural gas. The natural gas shortage has become so dire that Alaska Railbelt utilities are having a tough time delivering electricity and natural gas to their customers. To help boost the energy supply and help ensure it does not need to initiate a rolling blackout, GVEA is leaning on increased output from its coal-fired power plants at the mouth of Usibelli Coal Mines operations in Healy. Usibelli delivers roughly 1 million tons of coal per year to GVEA’s two Healy power plants at the mouth of its mining operations, capable of generating a combined 57 megawatts of electricity, plus three other Interior Alaska power plants capable of generating another 70 MW of electricity.
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President Appoints Emma Pokon as EPA Region 10 Administrator
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Congratulations to Beki Toussaint and Her Family!
NOVAGOLD Plans Aggressive 2025 Season for Donlin Gold
The partners in the Donlin Gold project — NOVAGOLD and Barrick — have announced ambitious plans for 2025 building on a successful 2024 season. In late January, NOVAGOLD filed its 2024 fiscal year-end report and provided an update on the Donlin project. NOVAGOLD held a strong treasury of approximately $101 million in cash and term deposits as of Nov. 30 and reported net annual cash expenditures of $24.5 million — including $12.4 million to fund NOVAGOLD’s share of the Donlin Gold project and $17.7 million in corporate general and administrative costs, below its 2024 expenditure guidance of $31.2 million. Donlin Gold undertook the following key activities in 2024 to advance technical work to position the project for an updated cost estimate: n Substantially completed metallurgical test work at a pilot plant in Ontario, Canada to confirm proposed optimizations to the flowsheet; advanced an updated resource model; and collected field and geochemical data for operational and closure planning; n Submitted the preliminary design packages for the Dam Safety Certification to the Alaska Department of Natural Resources (ADNR) in the second half of 2024; n Collaborated with Donlin Gold, Calista Corporation (“Calista”), and The Kuskokwim Corporation (TKC) on substantial ecological, educational and cultural awareness initiatives, including community outreach in the project’s region — hosted public open houses in three locations, participated in two Subsistence Community Advisory Committee meetings, and established three additional Shared Values Statements with local villages. n NOVAGOLD and Barrick held a Donlin Gold workshop in Alaska in September to review the important work completed to date and to agree on the next steps for the Donlin Gold project and related 2025 activities. The Donlin Gold board approved a budget of $43 million (100% basis) for 2025, comprising the following key areas: n Camp operations with grid drilling to refine mine planning assumptions; n Updated mine planning; n Geotechnical engineering and geosciences closure planning; n Project planning; n Advancement of Dam Safety Certificate applications; and n Community relations, government affairs and maintaining permits in good standing.
Partnering for Broader Reach and Meaningful Impact Donlin noted it recognizes the importance of ecological stewardship in the Yukon-Kuskokwim (Y-K) region. Since mid-2023, Donlin Gold has intensified efforts to monitor, survey, and engage on the crucial subject of salmon fisheries in the Kuskokwim and Yukon River watersheds. In 2024, Donlin Gold launched a salmon smolt monitoring program on the George River, a tributary of the Kuskokwim River, in partnership with the Native Village of Napaimute to assess smolt health and migration patterns — an initiative that will continue into 2025. Restoration of a portion of the historic Lyman placer site, which included significant stream and pond habitat creation, including aquatic life access and use, was completed in 2024. Aquatic restoration work on a reach of Snow Gulch previously disturbed by historic mining will start in 2025. In 2024, Donlin Gold, Calista, and TKC held public open houses in Anchorage, Bethel, and Crooked Creek — the closest community to the project. Two Subsistence Community Advisory Committee meetings were conducted, the first in Aniak during the second quarter and the second in Anchorage in December. Donlin Gold also established three additional Shared Values Statements, bringing the total to 18. Donlin Gold’s numerous partnerships in the Y-K region and statewide, aimed at supporting ecological projects, education, summer youth employment programs, and cultural awareness efforts, continue to grow. Together these efforts underscore Donlin Gold’s ongoing engagement with and commitment to local communities, reinforcing existing long-term relationships and addressing specific community needs.
AMA was thrilled to learn that our beloved Beki Toussaint, Education Program Director, at Alaska Resource Education and her husband, Luke welcomed Addison Wren Metherell on Jan. 4, at 5:42 am. She decided to make her appearance a little earlier than planned, but she is healthy and strong! Addison weighed in at 5 pounds, 10.5 ounces, and 19 inches long. The whole family is doing well and we cannot to meet her. Minor Miner indeed!
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Hecla Mining Company Expands Silver Reserves to 240M Ounces
Extensive Drilling Program Conducted at Greens Creek Mine
By North of 60 Mining News With over a century of mineral exploration and mining under its belt, Hecla Mining Company has once again proven why it is North America’s largest silver producer, demonstrating its ability to replenish and expand resources with 2024 year-end silver reserves totaling 240 million ounces – the second highest in the company’s long history. With operations spanning Alaska, Yukon, Idaho, and Quebec, Hecla’s extensive portfolio includes some of the highest-grade silver mines in North America. Decades of investment in exploration and resource development have solidified its standing as a dominant force in the industry, with each year bringing new discoveries and expanded reserves. Through successful exploration and resource development efforts in 2024, Hecla expanded its reserves while fully offsetting silver production. This growth was particularly evident at its Keno Hill operation in Yukon and the Greens Creek Mine in Alaska. As a result, the company now holds 35.06 million tons of proven and probable reserves containing 240 million
oz of silver, 2.2 million oz of gold, 1.88 billion pounds of zinc, and 1.6 billion lb of lead. Beyond its proven and probable reserves, Hecla’s resource base remains substantial, with measured and indicated resources now totaling 180 million oz of silver, 4.3 million oz of gold, 2.18 billion lb of zinc, and 1.46 billion lb of lead, while inferred resources stand at 492 million oz of silver, 6.2 million oz of gold, 1 billion lb of zinc, and 1.05 billion lb of lead. “Hecla’s silver reserves stand at 240 million ounces, the second-highest level in our 134-year history and only 1 million ounces below our peak in 2022,” said Hecla Mining President and CEO Rob Krcmarov. “Our 2024 exploration program continued to deliver exceptional results at both Keno Hill and Greens Creek while Keno Hill reserves grew by over 17% and silver production was nearly replaced at Greens Creek.” Maintaining its position as one of the world’s highest- grade silver mines, Hecla’s flagship Greens Creek operation in Southeast Alaska continues to be a cornerstone of the company’s production. As of year-end 2024, the underground mine holds 10.45
million tons of proven and probable reserves, containing 103.7 million oz silver, 865,000 oz gold, 646 million lb zinc, and 240 million lb lead. At current mill throughput rates, this reserve base is expected to sustain operations for approximately 14 more years. Throughout the year, Hecla completed an extensive drilling program targeting multiple zones within the Greens Creek deposit, with its fourth-quarter drilling campaign focusing on expanding and upgrading resources in the West Zone, 9A Zone, 5250 Zone, and Gallagher Zone. Select drill highlights include: n 2.1 feet averaging 34.6 ounces per ton silver, 0.44 oz/ton gold, 2.8% lead, and 5.9% zinc (West Zone). n 17.3 feet averaging 10.8 oz/ton silver, 0.21 oz/ton gold, 4.5% lead, and 8.7% zinc (9A Zone). n 46.6 feet averaging 24.3 oz/ton silver, 0.07 oz/ton gold, 4.3% lead, and 9.2% zinc (5250 Zone). “The 2024 drilling program has significantly advanced our understanding of the high-grade mineralization controls at both Keno Hill and Greens Creek,” said Hecla Mining Company Vice President of Exploration Kurt
Allen. “At Greens Creek, the strong results from the West Zone and 5250 Zone support our view that this world- class deposit continues to hold significant exploration potential.” Following the announcement of its year-end reserves, Hecla released its fourth-quarter and full-year 2024 financial and operational results, highlighting record revenue and continued strong silver production. The company generated $929.9 million in sales, marking its highest revenue to date, with a net income of $35.3 million, or $0.06 per share. Adjusted EBITDA reached $337.9 million, reflecting a 62% increase over 2023. Higher metal prices, strong production at Greens Creek and Lucky Friday, and a $50 million insurance payout contributed to this financial strength, enabling Hecla to reduce debt and improve its financial stability. Cash flow from operating activities rose to $218.3 million, a $142.8 million increase over the prior year, primarily driven by robust free cash flow generation at Greens Creek and Lucky Friday. On the operational front, Hecla produced 16.2 million oz of silver in 2024 – the second-highest total in company history – alongside 142,000 oz of gold, exceeding consolidated guidance.
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Contact Craig Thomas craigert@tylerrental.com (907) 617-1669
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AMA Corporate Members
Thank You for Your Generous Support!
Cyr Drilling USA Inc. Dawson City Chamber of Commerce Delta Industrial Services Inc. Denali Industrial Supply Desert Air Alaska DGI Geoscience Dorado Drilling Ltd. Dorsey & Whitney LLP DXP Alaska Pump & Supply Eastern Oregon Mining Association
Please support and thank these companies who have renewed their support and corporate membership in AMA. Their continued support makes possible all the work we do in and for the mining industry. Pioneer/High Grade Construction Machinery Industrial LLC Hecla Greens Creek Mining Company Alaska Trucking Association Alpha Aviation LLC American Exploration & Mining Association Anchorage Chamber of Commerce
Klondike Placer Miners’ Association Knight Piesold & Company Kuna Engineering Lignite Energy Council Madison Lumber & Hardware Inc. Mascott Equipment Matanuska Susitna Borough Matanuska Telecom Association Matson MDF Global MFCP Mitsubishi Materials USA Corp Modern Machinery Montana Mining Association Motion Industries
Royal Gold Inc. Samson Tug & Barge Sandvik Sealaska Corporation/Alaska Coastal Aggregates LLC SECON/Southeast Roadbuilders Shoreside Petroleum Inc. SKAPS Industries SLR International Corporation SMS Equipment Inc. Society For Mining, Metallurgy & Exploration Soloy Helicopters LLC Solvest, Inc. Sophie Station Suites -
Freegold Ventures Ltd GCI Business Graphite One Inc. Lifewater Engineering Company NMS Nova Minerals Limited Nuna Geologic Services LLC
Producers Coeur Alaska - Kensington Mine Kinross Alaska NANA Regional Corp Northern Star Resources - Pogo Mine Ruen Drilling Inc. Teck Alaska Inc. - Red Dog Usibelli Coal Mine Inc.
Anchorage Sand & Gravel Inc. Arcticom LLC, a BSNC Company ARG Industrial Arizona Mining Association Associated General Contractors of Alaska Association for Mineral Exploration British Columbia Aurora Geosciences (Alaska) Ltd. Automatic Welding & Supply AVTEC - Alaska Vocational Technical Center Backcountry EMS Barr Engineering Co. BDO USA Beacon Occupational Health and Safety Services Inc. Belzona Technology Northwest Better In Our Back Yard Big Ray’s Alaska Inc. Black Gold Transport Bobcat of Juneau Boreal Environmental Services Brenntag Pacific, Inc. CalCIMA Cama’i Enterprises LLC Chamber of Mines of Eastern British Columbia Coastal Helicopters Colaska Colorado Mining Association Commonwealth North CONAM Construction Company Conn-Weld Industries, LLC Consumer Energy Alliance Craig Taylor Equipment Company Crowley Fuels LLC Cruise Lines International Alaska Cummins Sales & Service
Orica USA Inc. PolarX Limited South32
Energy Laboratories Inc. Equipment Source, Inc.
Equity Exploration Consultants Ltd. ESS Support Services Worldwide Everts Air Cargo Fairbanks Economic Develpment Corporation Fairweather LLC Far North Supply Ferguson Industrial First Things First Alaska Foundation Frontier Supply Company GBA Assaying & Refining General Refining Corporation Global External GMS Mine Repair Graymont Great Northwest Inc. Greater Fairbanks Chamber of Commerce Greenstone Station Inc HDR Horst Expediting & Remote Hy-Tech Drilling USA Inc. Idaho Mining Association IMDEX Industrial Pumps of Alaska Inlet Energy Operations Inc. Hyak Mining Co. Institute of Northern Engineering International Directional Services JCM Industries Juneau Economic Development Council Just Refiners USA, Inc. Kiewit Mining Group
Tectonic Metals Inc. Trilogy Metals, Inc. U.S. GoldMining Inc United States Antimony Corporation Western Alaska Minerals
MSI Communications Mueller Electric Div II N C Machinery
Fountainhead Hotels Southeast Conference SRK Consulting Stantec Consulting Inc. State Fire Stoel Rives LLP Sullivan Water Wells T & J Enterprises Inc. TDM Drilling LLC Temsco Helicopters Inc. The Alliance The Silver Institute Thermo-Tech, Inc. Thyssen Mining Inc. TOTE LLC Tyler Rental Inc. Tyree Oil Ucore Rare Metals Inc. University Redi-Mix Utah Mining Association Valdez Creek Mining
Junior Producers Sundance Mining Group
National Mining Association Nevada Mining Association New Mexico Mining Association North Star Terminal & Stevedore Co. LLC Northern Air Cargo Northern Industrial Training, LLC (Anchorage) Northern Permafrost Consulting Northern Sonic Alaska, Inc. Northrim Bank, NA Northwest Mine Supply Northwest Pump Northwest Territories & Nunavut Chamber of Mines P & C Recruiting and H.R.
Business Members 3-Tier Alaska A & D Drilling LLC ACZ Laboratories Inc. Advanced Supply Chain
Developers AIDEA Calista Corporation Constantine Mining LLC Contango Ore, Inc.
International LLC Airgas USA, LLC
Donlin Gold LLC Lynden Logistics NovaGold Resources Inc. Oxford Assaying & Refining Corp. Pebble Limited Partnership Redpath USA Corporation RESPEC Taiga Mining Company Inc. Tower Hill Mines Inc. - Livengood Project Explorers Alaska Energy Metals Alaska Frontier Constructors Inc. Alaska Railroad Corporation Ambler Metals LLC Blackwolf Copper & Gold Ltd. Borealis Fuels and Logistics Ltd. Chugach Alaska Corporation ConocoPhillips Alaska Inc. Doyon, Ltd
Alaska Aggregate Products LLC Alaska Air Carriers Association Alaska Airlines Alaska Auto Rental Alaska Business Alaska Carquest LLC Alaska Chamber Alaska Drilling and Completions Alaska Forest Association Alaska Industrial Hardware Inc Alaska International Business Center Alaska Minerals Inc. Alaska Mining & Diving Supply, Inc. Alaska Oil and Gas Association Alaska Policy Forum Alaska Remote Imaging Alaska Resource Education Alaska Rock Products Association Alaska Roteq Alaska Steel Co.
Pacific Rim Chemicals Pathfinder Aviation, LLC Perkins Coie LLP Petro Marine Services Piton Exploration LLC Prospectors & Developers Association of Canada Ram-Enterprise Remote Made Easy (PSSA) Remote Site Services Inc. Republic Services
VEGA Americas Visit Anchorage Weir Minerals
Wells Fargo Bank Alaska Women’s Mining Coalition WSP USA Inc. Wyoming Mining Association Yukon Chamber of Mines Zonge International Inc.
Resource Development Council Roughstock Mining Services LLC
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Thank You to Lynden for Helping Us Spread Alaska’s Mining Message!
New and Renewing AMA Members
Thank you to all the AMA corporate and Individual members who joined or renewed their membership to the association in November and December. You make AMA possible! Corporations Alaska Business Cama’i Enterprises LLC ConocoPhillips Alaska Inc. IMDEX Operator Shane Smithhisler Professionals Sam Amato Individuals Charles Bell Tom Corbett Esther Daack Dale Henkins Peter Hjellen Justin Ho Al Johnson
Chris Dillingham Zackary Gottshall Bryan Haas Maureen Hall
Caroline Schultz Clint Streadbeck
Michael Bethe David Gordon Joan Travostino
Robert Taylor Varina Zinno
Not yet a member of the Alaska Miners Association? Or have not yet renewed your membership? Renew today so you don’t miss a single issue of The Alaska Miner or the 2025 Alaska Miners Handbook and Service Directory, available only to AMA members. Call or email Jennifer Luiten, Membership and Fundraising Director at 907-270-9232; jennifer@AlaskaMiners.org.
Deantha recently joined her colleagues at the Alaska Chamber, the Alaska Oil and Gas Association, the Alaska Support Industry Alliance, and the Alaska trucking association to present on Alaska issues facing our economic sectors to the Lynden sales conference. Thank you to Lynden for the opportunity and for being a longtime supporter of Alaska mining!
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February 2025 I The Alaska Miner I www.alaskaminers.org
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In Memoriam: Uldis ‘Jake’ Jansons
Alaska Mining Calendar
By Joseph Kurtak Uldis “Jake” Jansons moved on to that last outcrop in the sky on May 30, 2024. He was born to Drs. Voldemars and Milda Dolfijs Jansons on Feb. 10, 1940 in Jelgava, Latvia. Jake completed his early education in Germany, Fitchburg and Chelsea, Mass., graduating in Queens, New York. He spent his college summers working as a minerals sampler in Ontario and Nova Scotia, Canada, obtaining his BS in geology at St. Lawrence University, Canton, NY. He obtained his master’s degree at the University of Montana, Missoula in 1963. While completing his thesis on the New World Mining District near Cook City, Montana, he worked summers for Bear Creek Exploration Company. It was at Cook City that he met his future wife and soulmate Carol J. Nott on a blind date. They were married Feb. 5, 1966, in Salt Lake City, Utah. Continuing his education, Jake worked at the Laboratory of Isotope Geology at the University of Utah, obtaining his PhD in Geological Engineering in 1971. Jake and Carol moved to Faro, Yukon Territory, Canada where Jake was Chief Exploration Geologist for Cyprus Anvil Mining Corporation from 1971-76. He joined the U.S. Bureau of Mines in Anchorage,
Alaska in 1976 where he was a Supervisory Physical Scientist. During his role with the Bureau, he played an integral role in supervising a series of mineral resource assessments as mandated by the Alaska Native Claims Settlement Act (ANCSA) and Alaska National Interest Land Claims Act (ANILCA). He participated in some of the
n March 21: Alaska Support Industry Alliance Meet Alaska Conference in Anchorage n March 2-5: Prospectors and Developers Association of Canada (PDAC) Conference, Toronto n Week of April 28: Second Annual Alaska Resources Day, Washington, D.C.
— JUNEAU, ALASKA — AVAILABLE STATEWIDE ✓ CONSTRUCTION ✓ EXPLORATION ✓ CONTRACT
n May 10: Alaska Mining Day
n June 3-5: Fourth Annual Alaska Sustainable Energy Conference, Anchorage; alaskasustainableenergy. com n Nov. 3-6: AMA Annual Convention and Trade Show, Anchorage
first mineral resource studies of the National Petroleum Reserve-Alaska. Fieldwork by Jake resulted in the discovery of an extensive belt of lead/zinc-bearing rocks along the north flank of the Alaskan Brooks Range. He also recognized the significance of the Red Dog discovery which would become one of the world’s major zinc mines. Jake was transferred to the Denver office of the Bureau of Mines in 1984 where he was chief Branch of Mineral Land Assessment verifying the mineral resources of 33 states until retirement in 1996. Jake leaves behind his wife, Carol, and numerous nephews and nieces. He was preceded in death by his parents, nephew Pete Jansons, and brother, Dr. Peteris Jansons.
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n Nov. 12-13: 46th Annual Alaska Resources Conference, Anchorage
Statewide Zoom Meetings
n April 25
2025 Schedule:
(every two weeks)
n May 9
n February 28
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