THE ALASKA MINER MAGAZINE: Our magazine is published quarterly and delivered to both the members of the Alaska Miners Association and to key decision-makers and leaders in Alaska and beyond. Our goal is to educate, advocate, and lead our industry as one of the strongest, oldest and most productive corporate citizens in Alaska. AMA’s mission is to promote responsible mineral development in Alaska. We provide key communication between our members, the industry and policy makers in and out of Alaska. Each issue includes news, and information important to our industry and our constituents.
Mining legend gives back Roger Burggraf donates collection to museum
INSIDE: Bob Stiles remembered for a life of service to resource development
Spring 2025 Volume 53, Number 4 Online: AlaskaMiners.org The official magazine of the Alaska Miners Association and the mining industry in Alaska
Executive Director’s Report
Dear Alaska Miners,
What a start it has been to 2025 ... and things certainly aren't slowing down! As we head toward another summer mining sea- son, I am proud to highlight all the exceptional ways that Alaska miners continue to help tell their own personal stories and share the importance of Alaska mining and our way of life. Every single one is special and vital to helping tell the greater story that is and always will be Alaska mining! AMA has been in multiple important venues the past few months, advocating for you and for Alaska. We just went to Washington, D.C. for the annual Alaska on the Hill event (previously Alaska Resourc- es Day) and were able to meet with many different legislators, mining and resource organizations, and mostly, friends of Alaska mining! Being able to share the importance that Alaska mining plays at the state, federal and global level to those individuals who help enact large policy deci- sions is among the biggest challenges — and oppor- tunities — we at AMA have. It also is amazing how many partner organizations — and Alaska miners — join us each year for the event. It truly is a blessing to have such a robust and well-rounded coalition to help share our stories and support our mission. Thank you to everyone who took time out of their busy schedules to join us! We will have much more about the event and what was discussed in coming publications. Looking ahead, there are numerous other events and opportunities to collaborate and help spread a good word about all the positives that Alaska mining brings. Alaska Mining Day on May 10 again will be a celebration of the past contributions of miners and also help bring together current and future miners during a day that was designated specifically for us. AMA is looking forward to it and we welcome you to share your stories with us for this magazine! I would be remiss to not mention Roger Burggraf and his amazing contributions to Alaska mining. Rog- er is on the cover of this publication for his generous donation of his personal gold collection to the Uni- versity of Alaska Museum of the North in Fairbanks. But, more importantly, this is another opportunity to recognize one of the greatest Alaska miners who has or ever will call our state home. Roger is a true pioneer but also one of the kindest and most generous men you may ever come across. Thank you, Roger, for everything you have done to ad- vance Alaska mining and our way of life. You are truly one of a kind, and it's an honor to call you a friend! It also is an honor to be able to tell the stories you will read in this edition of The Alaska Miner, includ- ing: n Robert "Bob" Stiles Jr. and the legacy he left in his own right in Alaska and for resource development (Page 18) n The outlook for Alaska gold with prices continuing
to climb to record highs and beyond (Page 24) n The importance of Alaska coal amid President Trump's announcement promoting the industry (Page 28) n Alaska Mining Day and why it continues to be such an important milestone (Page 32) Moving forward with the rest of 2025, we will have many more opportunities to share what Alaska mining truly means — and which all of you already know. Alaska has always been blessed with good rocks. Our No. 1 challenge will continue to be proving we can develop and produce more for the state that we love more than anybody who doesn’t live here. As you also know, more than ever, it’s critical that we continue to educate and engage, and respect- fully challenge, those who don’t understand what we do or why we do it. I look forward to this mission that's at the heart of AMA and every day in the future to do exactly that on your behalf. You can count on AMA to keep you posted as each challenge arises — and they undoubt- edly will continue. And to let us provide the facts you need to support our shared arguments. I also look forward to seeing each and every one of you at our upcoming events, and especially this November at our annual convention in Anchorage. Best wishes for a great summer! Deantha Skibinski AMA Executive Director
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ON THE COVER: Legendary Alaska miner Roger Burggraf recently announced a donation of his personal gold collection to the University of Alaska Museum of the North in Fairbanks. To honor Burggraf’s amazing contribution, the museum is designing a new exhibit on the history of Alaska gold mining. See more on Page 6 about Roger and his iconic career. Photo Courtesy Roger Burggraf THIS PAGE: Alaska miners showed up in force recently in Washington, D.C. for the annual Alaska on the Hill event. The event serves as an avenue to share AMA's message and the importance of Alaska mining to elected officials and stakeholders at the federal level and beyond. We will share many more details from the event in coming publications. AMA Photo
The official magazine of the Alaska Miners Association and the mining industry in Alaska
DEDICATED. RELIABLE. BUILT TO SERVE.
TABLE OF CONTENTS
14 Barrick Sells Stake in Donlin Project 24 Record Gold Prices Spur Big Year 28 Coal Mining Receives New Support
32 Alaska Mining Day Returns 40 Graphite One Triples Its Forecast 44 Newest Mining Business and Service Directory
1 Executive Director’s Report 4 Message from AMA's President
The Alaska Miner is dedicated to those who work in and support the mining industry in Alaska, its commitment to the people, and resources of our state. Our magazine is published quarterly and delivered to both the members of the Alaska Miners Association and to key decision makers and leaders in Alaska and beyond. Our goal is to educate, advocate and lead our industry as one of the strongest, oldest and most productive corporate citizens in Alaska. AMA’s mission is to promote responsible mineral development in Alaska.
EDITORIAL CALENDAR
ALASKA MINERS ASSOCIATION STAFF
Summer 2025 People in Mining
Deantha Skibinski Executive Director Jennifer Luiten Membership and Fundraising Director Carin Currier Projects & Communications Manager Darlene Strickland Bookkeeping and Membership
Fall 2025 Annual Anchorage Convention Winter 2026 Legislative and Season Preview Spring 2026 Project Updates
EXECUTIVE BOARD
BRANCH CHAIRMEN
Lorali Simon President, Usibelli Coal Mine, Healy Blake Bogart First Vice President, Graphite One Inc., Nome Houston Morris Second Vice President, IPA Alaska, Soldotna Kim Aasand Treasurer, Aasand & Glore LLC., Anchorage
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
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The Alaska Miner 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. For advertising information or news tips, call or email publisher Lee Leschper at 907-957-6025 or Lee.Leschper@FireweedStrategies.com.
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President’s Message From Lorali Simon
Note from Publisher Fireweed Strategies
The time is right for working together
2025. Mary has over a decade of experience in energy policy commu- nications in Washington, D.C., with roles on U.S. Sen. Lisa Murkowski’s staff, on the U.S. Senate Energy and Natural Resources Committee, and at the American Petroleum Institute. Mary is the primary contact for advertising and financial questions (mary@lunastrategiesdc.com). Lee Leschper remains the CEO of Fireweed Strategies, an Anchor- age-based LLC founded in 2015 to share the full story of Alaska’s re- source development industries. As some of you may have heard, Lee was involved in an accident last fall, but he remains committed to Fire- weed’s mission while continuing his recovery. Fireweed Strategies pub- lishes unique magazines that con- nect key industries with diverse au- diences while highlighting resource development’s impact on the state’s economy and national security.
Fireweed Strategies LLC has expanded our Alaska team for our Alaska magazines for 2025, includ- ing The Alaska Miner and other AMA publications. Will Leschper is now leading all content, design and production for our Alaska Miners Association as well as other Fireweed publications in- cluding those of the Alaska Support Industry Alliance and the Resource Development Council for Alaska. He has been the designer and produc- tion manager of AMA publications since 2019. Will is a nationally recog- nized writer and photographer, and a frequent contributor to national magazines with more than 20 years in publishing. Direct news, photos and sto- ry requests for the Miner to Will (leschperw@gmail.com). Mary (Leschper) Schaper is now supporting business and advertis- ing for all Fireweed publications for
"As we start this new era of partnership between the federal government and Alaska mining, it is important that we be proactive and not wait. In the first days of the first Trump Administration a wise Alaskan said 'You've got four years … don't waste it!' ” W hat a whirlwind of a spring it has been! With a new administration in
able policies from our nation's capital can make or break much of the rest of what we endeavor to do, to develop Alaska’s natural resources. So now is the time to move forward in teamwork with our state government and leadership, to move on projects that have been waiting far too long. This challenge is not specific to Alaska or the United States; it is influenced by international forces. We need a long-term global perspective for both our solutions and partnerships. The record-setting monetary value of our resources, especially critical minerals, provides huge economic incentive as well. It is a very good time to be in mining! Alaska’s mining industry faces a critical call to action. Whether through testifying, donating, or investing in long-delayed projects, it is time to act. It is time to put all our cards on the table, and get to work. Let me recap some key points that I men- tioned previously, President Trump has con- sistently advocated for increased resource de- velopment as a means of boosting economic growth and energy independence. In Alaska, this approach is particularly relevant given the state's rich mineral resources. n One of the most notable aspects of Trump's approach to governance is his com- mitment to reducing regulatory burdens on
Washington and a new dedication to resource development, especially in Alaska, there may have never been a better time to be a miner. Elsewhere in this magazine you will see more, as you are seeing every day in the tradi- tional media, about the new dedication to de- velop Alaska’s resources that's coming from the Trump Administration. In my last column, I celebrated the great potential President Trump and his team have launched for Alaska, and Alaska mining in particular. It is remarkable to reverse the huge ship of the federal government from very anti- to very pro-mining in days, but that is what we have seen. As we start this new era of partnership be- tween the federal government and Alaska min- ing, it is important that we be proactive and not wait. In the first days of the first Trump Administration a wise Alaskan said “You've got four years … don't waste it!” The point then and the point now remains. Nothing set by elected leadership is permanent. For those of us having business plans and de- velopment that has required decades, the days of favorable winds need to be not just celebrat- ed but put to good use! As we learned in the last eight years, favor-
businesses. n The new administration has focused on legislation aimed at streamlining the permitting process for energy projects, including mining op- erations. For Alaska's mining industry, permitting reform could result in faster approval times for new projects, reducing the time and costs associat- ed with regulatory compliance. n President Trump has consistently advocated for increased resource development as a means of boosting economic growth and energy indepen- dence. In Alaska, this approach is particularly rele- vant given the state's rich mineral resources. n Gov. Mike Dunleavy and other political lead- ers in Alaska have expressed their backing for Trump's pro-mining stance, viewing it as a way to stimulate the state's economy and create jobs. n By working in tandem with the federal gov- ernment, Alaska's political leaders can help cre- ate a more favorable environment for the mining industry to thrive. I look forward to working with you in these ex- citing days ahead! Lorali Simon is Vice President of External Affairs for Usibelli Coal Mine
Sign up and share the Alaska Miner The Alaska Miner is mailed statewide to Alaska business, government and Native leaders. Subscriptions are complimentary — to sign up just email address and contact information to admin@FireweedStrategies.com. And if you’re already receiving the Miner, sign up your team members and clients who also need to be reading the latest good news about Alaska mining!
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Spring 2025
www.AlaskaMiners.org
Photo Courtesy Kinross Alaska
Roger with Kinross Gold Corporation’s Paul Rollinson at the groundbreaking for the Manh Choh Mine.
Roger Burggraf donating gold collection to museum
will be created at the museum. The highly condensed history of Alaska gold mining will include key individuals from the turn of the 20th century, including operators of small claims up to dredges. It will also in- clude the transition period into mod- ern large industrial efforts through present day. The exhibit will show- case alluring gold nuggets, as well as dust and representative ore samples collected over Roger’s lifetime. Audio clips from interviews with Roger will share personal insights to this his-
tory in his own words. Stories from historians and other miners will be incorporated as well. The exhibit will feature wall pan- els and a large, custom-built case in the museum’s Gallery of Alaska. As currently conceived, the grounding visual element will be a geologic map of Interior Alaska with many new- ly donated objects mounted directly over the map to highlight local min- ing history, its geographic scale and
Legendary miner's life to be on display at UA Museum of the North Alaska mining icon Roger Burg- graf has generously donated his per- sonal gold collection to the Univeristy of Alaska Museum of the North in Fairbanks. The collection spans his nearly 50-year career as a miner and mine operator, and will be part of an ex- hibition on gold mining history that
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Photo Courtesy Roger Burggraf Roger and his wife, DeLois, were recognized recently at a Greater Fairbanks Chamber of Commerce luncheon honoring their donation to the UA Museum of the North and celebrating their amazing contributions to Alaska.
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funds to support the design, installa- tion and maintenance of the exhibit. A gift to this project is eligible for the Alaska Education Tax Credit. Gifts from corporations who pay certain taxes to the State of Alaska may qualify for this tax benefit. Please consult your tax professionals to ver- ify your eligibility. To make a gift via check: Please make the check payable to "UA Foundation" On the memo line, please include "UAMN Gold Mining Exhibit" to properly route your gift. Please mail the check to: UA Foundation PO Box 755080 Fairbanks, AK 99775 If you have questions on donations and ways to support this project, please email ajallegood@alaska.edu or call 907-378-1205.
Roger Burggraf: An Alaskan legend For most of 70 years, Roger has worked and explored and built and mined in Alaska. He has had enough adventures for 10 lifetimes. And he’s not done yet. Along the way, he has dedicated his life in Alaska to causes he be- lieves in, everything from training sled dogs to mining, resource devel- opment and lowering energy costs. Growing up in New York State, he had been on his own since age 14, and worked on farms and ranches from Upstate New York to Wyoming. A love of wild things and adventure and a desire for knowledge led him to the opportunity to attend college at Cornell University. “It was a great experience, and I
BURGGRAF, CONTINUED from PAGE 6
its diverse practices. The exhibit design and installation is scheduled to be a two-year project. The tentative timeline includes: n Exhibit development with stakeholders (minimally eight months) n Exhibit design phase (approxi- mately four months) n Custom-built display case manufacturing and shipping (mini- mally six months) n Target installation in First Quarter 2027 This extended project timeline re- flects coordination with other exhibit projects and the time to meaningfully communicate with all stakeholders. The museum is currently raising
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Roger has worked and explored and built and mined in Alaska. He has had enough adventures for 10 lifetimes!
the middle of the bay. A seal popped his head out of the water, and I was hungry for meat, so I shot the seal. I got to shore, cut off a piece and put it in the frying pan. And it smelled awful! Next, I cut out the liver, fried it and boy it was good!” He had crafted a primitive cooler, kept stocked with ice from passing icebergs and kept his provisions cold. “Besides the seal liver and fish, I feasted on Dungeness crabs and clams, and t he blueberries and strawberries which were abundant.” With no neighbors and a job guarding the creek full of salmon, he reveled in the wilderness. “They gave me a boat and motor and tent and orders to not let any fishermen fish out the creek. I did stream surveys too. It was like a paid vacation!” “I’d go upstream, catch dollies,
“I lived with a family and got a job with Smith Dairy working in the milk plant. The family I lived with loved it because I was able to bring home free milk, ice cream and other dairy products. His next summer job was for the U.S. Fish and Wildlife Service as a “fisheries aide,” more correctly a stream guard, protecting spawning salmon from poachers. There, his adventures really began. “First thing was they asked if I was afraid of bears. I said I’d been around them and knew to respect them. And they said ‘we’ve got just the spot for you! So, they handed me an old Enfield .30/06 and dropped me off in Glacier Bay.” Provisions were meager so he quickly began living off the land, which he relished, except for the bugs. “Lot of times mosquitoes were so bad I would take the boat out in
BURGGRAF, CONTINUED from PAGE 8
made many lifelong friends there.” While going to college he made the best of his time seeking adven- ture and work. He traveled to Alaska the first time and found work in Tom Morgan’s lumber mill. After the mill shut down, he worked const ruc- tion setting power lines going to the airport and residential area north of Juneau. Roger loved playing sports and played 150-pound football and la- crosse while at Cornell. He joined a small fraternity and waited tables and washed dishes to help pay his way through while at the fraternity. His primary major was wildlife management, and geology and agriculture. During his second year at Cornell, he spent the summer months work- ing in Alaska.
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duty from 1957 to 1959. “I got a commission and went to Army Ranger School. I really enjoyed the service but came straight back to Alaska as soon as I got out in 1959.” As now a captain in the Alas- ka National Guard, he was the first commander of the new National Guard Armory in Fairbanks. After his military service, he worked in banking for 14 years and enjoyed the banking business until entering the mining industry in 1972. Roger had had a love of sled dogs going back to college and now had the place and time to develop that into a full-time hobby. He purchased an Army sled dog pup from Carl Heinmiller of Haines, Alaska. That pup later lost his left leg after being hit by a car and forever more was known as “Tripod.” “Tripod used to follow me to class at Cornell. When I went into the ser- vice, I left him with my fraternity. He became a famous dog on campus, af- ter during the big rivalry game with Syracuse, he ran the full length of the field and disrupted the kickoff!” Fairbanks has been home to Roger since 1959. “I’ve had a lot of good years here. I drove dogs for years, made quite a few big expeditions. I had big mal- amutes, freight dogs, so we did lots of cross-country stuff. I worked as a VIP helping the park service train its dogs for freighting. It was a lot of fun. I always had Alaska malamutes. I stuck with purebreds and showed them too.” It was another family friend who whetted his appetite for mining in 1945. His stepfather often brough home military veterans, as commander of the local American Legion Post, and one was a former member of the fa- mous Black Sheep Squadron from the Pacific War, a medal of honor winner. “He was a geologist, working in South America, and he came back with a mineral set, which got my cu- riosity up. I’d done a little prospect- ing in Southeast Alaska and always had that interest in mining and min- erals. So, it whetted my whistle.” It was the wild people of Alaska as much as the wildlife that he came to love. He befriended a homesteader in Icy Strait who sparked his interest in mining. “Joe Ibach had been a fox farm- er, guide, entertained famous people who wanted to come and hunt. He
was also interested in mining. He’d built his fireplace with gold and cop - per ore which he’d mined.” He had also befriended another older timer who died, leaving a poke of gold. “He gave me a nugget that I kept until I gave it to girl from college that I married.” “I worked on the pipeline, was a laborer, had a lot of crazy experienc- es. They were a rough and tumble group but since I’d left home, I’d been able to take care of myself. Roger worked the pipeline, made good money, and bought the old Grant Mine, on Esther Dome near Fairbanks. He has been working that property for close to 48 years. He en- joyed hardrock underground mining and worked for Silverado Gold Mine at Nolan Creek. “We had some good years and some tough years.” Nolan Creek is legendary for the large gold nuggets it has produced. “We did quite well, but of course when we did well, the price of gold dropped to $260 an ounce. We had some of the finest placer gold in Alaska but no market at that time.” The largest nugget Silverado mined was 43.75 ounces, and many others of 18 to 20 ounces. For decades, he has served Alaska, advising, and advocating for resource development efforts and organiza - tions. “While I was mining and develop- ing the mine, I became active in the Miners Association. I was the state- wide president back in 1983-1984 and am a director emeritus. “I got involved in different or - ganizations and advisory groups, because I’ve always be interested in people and politics.” His banking background also proved invaluable on boards where financial expertise was often lacking. He is an Alaska pioneer and also re- mains active in Fairbanks civic events and the Greater Fairbanks Chamber of Commerce. In 2014, the Alaska Chamber of Commerce named him the William Egan Outstanding Alaskan of the Year, in recognition of his many years advocating for resource devel- opment and education. “I had no inkling,” he said at the time. “I still am sort of shocked. I’ve just sort of done things as they’ve come along. “It’s been a good life.”
BURGGRAF, CONTINUED from PAGE 10
smoke the small ones and eat them like candy when out in the field.” The brown bears who also came to fish provided adventures as well. “I had a couple of close calls when working around brown bears. “When I came to Alaska I couldn’t afford a modern pistol, but I felt bet - ter packing a pistol, so I had an old Civil War cap-and-ball revolver that I had gotten from my stepfather.” For clarification, a cap-and-ball pistol uses black powder and when fired, produces lots of white smoke. “I was going upstream and had seen lots of bears but every time they took off. Then this one bear was fishing, and I had lots of fun watch - ing him. Then he saw me and start- ed walking toward me. Every step I took backward he took one forward. I jumped up on a big snag washed down in the creek and he came at me. I tried to hit on the nose with my salmon snagging stick, but he swat- ted it away. “I had not had a chance to pull out the revolver, and he came again, and he hit me across legs. I went up in air but was able to pull the revolver. Now he was probably a foot from me. I fired and hit him in the head, but the bullet ricocheted off his skull. “And right then I couldn’t help but laugh! Here’s this bear with a huge ring of smoke around his head. I cocked it again, but he just turned and took off!” Another time on a foggy day, he heard a caught a group of fisher - men about to net a stream. They fled when he approached, so he followed in the fog in his small boat. “I could hear whales in distance sounding. Sitting there in the fog, it was an eerie situation. All of a sudden, the water next to the boat explod- ed and a whale came up for air. All I could see was straight into his eyeball. I always wondered what he thought but luckily, he wasn’t upset!” “Experiences like that leave ever- lasting impressions.” Roger switched his college major to wildlife management and grad- uated from Cornell with that and a minor in geology. Roger had served in the Naval Reserve at 17, wanting to be a pilot but was color blind. After college, he received a commission in the U.S. Army Artillery and served on active
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Paulson Advisers, NovaGold buy Barrick's Donlin stake
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state in the United States — we believe that the project could create value for decades to come. "Enjoying excellent social license and formidable exploration upside po- tential to significantly expand its re - sources and production profile, Donlin Gold constitutes a superb opportunity for us to gain leverage to gold in the United States at an attractive valuation. Together with Donlin Gold’s partners, Calista and TKC, we are dedicated to responsibly advance the Donlin Gold project," Chairman John Paulson said. “The announcement of our new partner, Paulson, marks the watershed moment in our company’s ambition to unlock conscientiously the full value of Donlin Gold. For such a prescient and illustrious gold investor as John Paul- son to share our belief that Donlin Gold constitutes one of the best and most jurisdictionally attractive gold devel- opment projects in the world — and indeed worthy of such an extraordi- nary investment — is truly catalytic for NovaGold," said Dr. Thomas S. Ka- plan, NovaGold’s Chairman. Located in the Kuskokwim region in Southwest Alaska, Donlin Gold hosts approximately 39 million ounc - es of gold in Measured and Indicated Mineral Resources (inclusive of min- eral reserves), of which NovaGold’s 60% attributed interest would repre - sent 23.4 million ounces following the closing of the transaction. If developed as contemplated by the 2021 Technical Report and the S-K 1300 Technical Report Summary, Don - lin Gold is projected to have a 27-year mine life, with average annual produc- tion expected to reach approximately 1.1 million ounces. Furthermore, the new partners believe there’s consider- able exploration potential in the proj- ect, as Donlin Gold’s current resources span approximately three kilometers of an eight-kilometer mineralized belt. This represents only approximately 5% of the total land package. Donlin Gold has maintained its state and federal permits in good standing and benefits from being in the State of Alaska with both community and state support.
Any funds raised by NovaGold would first be used to reduce its $30 million cash commitment. NovaGold was granted an option to purchase the outstanding debt owed to Barrick in connection with the Donlin Gold project for $90 million if pur- chased prior to closing, or for $100 million if purchased within 18 months from closing, when the option expires. If that option is not exercised, the debt will remain outstanding, substantially in accordance with its existing terms. In addition to approval by NovaGold’s Board of Directors, the transaction has also been approved by a Special Com- mittee of the Board composed entirely of directors who are independent of Elec- trum 1, NovaGold’s largest shareholder. Following the closing of the transac- tion, under the direction of the new part- ners, Donlin Gold expects to: n Immediately commence the var- ious workstreams to update the Feasi- bility Study 2 , including assembling a specially dedicated team to advance these efforts; n Shift the 2025 drill program’s focus to the conversion and expan- sion of Donlin Gold’s reserves and re- sources, with both partners committed to exploring for new resources along strike and to depth in future campaign seasons; n Advance technical work and en- gineering designs; n Continue to support state per- mitting efforts and maintain exist - ing federal and state permits in good standing, including government af- fairs engagement with federal and state representatives; and n Enhance social license, with ongoing community outreach and investment initiatives with partners and landowners, Calista Corporation (“Calista”) and The Kuskokwim Cor- poration (TKC). “Donlin Gold is one of the most attractive development gold projects in the world. With 39 million ounces of gold at double the industry average grade, and an optimal location in the prime jurisdiction of Alaska — already the second largest gold-producing
$1 billion transaction transfers 50% of the Donlin Gold project NovaGold Resources Inc. and Paul- son Advisers LLC announced April 22 that they have entered into a definitive agreement with Barrick Gold Corpora- tion to acquire Barrick’s 50% interest in Donlin Gold LLC for $1 billion in cash — creating a new partnership between NovaGold and Paulson to develop the Donlin Gold project in Alaska. Pursuant to the agreement, Nova- Gold will acquire a 10% interest in Donlin Gold LLC for $200 million, which will increase its ownership in- terest in Donlin Gold LLC from 50% to 60%, and Paulson will acquire a 40% interest in Donlin Gold LLC for $800 million and will share respon- sibility as a full and equal partner in project management of Donlin Gold. The transaction is subject to regu- latory approvals and customary closing conditions and is expected to close late in the second or early in the third quar- ter of 2025. At the closing of the trans- action, NovaGold and Paulson will enter into an amended and restated limited liability company agreement governing Donlin Gold (the “LLC Agreement”), pursuant to which NovaGold and Paul- son will have equal governance rights. To finance NovaGold’s portion of the acquisition, funding commitments were obtained from Paulson, The Elec- trum Group (“Electrum”), and Koper- nik Global Investors, LLC (“Kopernik”) to subscribe for up to $170 million of common shares at $3 per share, with the balance of $30 million to be funded from NovaGold’s treasury. As part of the funding agreement, Paulson, Electrum, and Kopernik re- ceived five-year warrants to purchase an aggregate of 25.5 million common shares of NovaGold at $3 per share. NovaGold will evaluate a range of al- ternative financing options to replace all or part of the funding commit- ments, although NovaGold is not re- quired under the funding agreement to seek any alternative financing.
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Photo Courtesy Donlin Gold
Donlin Gold project adds Todd Dahlman as new GM
cord in operational excellence, team leadership, and community engage- ment to Donlin Gold as it positions to develop a world-class mine. Since beginning his mining career in his hometown of Butte, Mont., in 1986, Dahlman has contributed to startup and producing mining opera- tions across the United States, Cana- da, Indonesia, Malaysia, Kazakhstan, Mauritania, and the Democratic Re- public of the Congo. "Todd brings exceptional exper- tise and a dynamic approach that we believe will complement the project's stage of development and advance- ment. His leadership marks an excit- ing new chapter, and we look forward to continued collaboration and suc- cess on the Donlin Gold project," said Donlin Gold Chairman Greg Lang. — Shane Lasley, North of 60 Mining News
Dahlman joins Donlin Gold as it carries out a roughly 15,000-meter infill drill program that is expected to
Todd Dahlman, a 40-year mining veteran who recently served as depu- ty general manager at Kinross Gold's
help upgrade resources that can then be con- verted to reserves when the joint venture is ready to update the 14-year- old feasibility study. Updates to the fea- sibility study ahead of a mine development de- cision for Donlin have been delayed due in part to legal challenges to previously issued per- mits for developing the proposed mine and a natural gas pipeline to
Fort Knox mine, has been tapped as the new general manager for the world-class Donlin Gold project in Southwest Alaska. Being advanced to- ward a production de- cision by Donlin Gold LLC, this enormous mine project hosts 504.81 mil- lion metric tons of prov- en and probable reserves averaging 2.09 grams per metric ton (33.9 mil - lion oz) gold.
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the project. Donlin Gold continues to support the state and federal agencies as they defend their permits. Dahlman brings a proven track re-
A feasibility study completed in 2011 detailed plans for a mine at Don- lin that would produce more than 1 million oz of gold annually over an initial 25 years of mining.
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The Alaska Miner
Spring 2025
Bob Stiles remembered for leaving his mark on Alaska
Coal Division, Past President of the Alaska Coal Association and Past President of the Resource Development Council. His work took him from the moun- tains of Montana to the rugged frontiers of Alaska, and across the globe to Japan, China, Korea, Taiwan, and Mexico, where he marketed projects with vision and enthusiasm. Whether building bridges between cultures or forging deals in the boardroom, Bob brought unmatched ener- gy, curiosity, and fearlessness to the task. Bob had stories for every occasion - some that were probably better left un- told, but he told them anyway. He had a wanderlust that could not be satisfied and had an everlasting sense of adventure. He hiked, biked, hunted, and fished in nearly every corner of the earth and was always up for anything that sounded remotely dangerous. He was afraid of nothing. His children will always cherish the memories made outdoors-hunting from Texas to Montana, fishing from helicop - ters in Alaska, 4x4ing through the back- country in his beloved International Scout, and getting gloriously stuck in remote parts of Colorado and Montana. Bob was preceded in death by his be- loved wife, Deb Stiles; his parents, Robert Benton Stiles Sr. and Rose Lavelle; his brother Doss Stiles, and his great-grand- son, Henry "Hank" Haynes. He is survived by his sisters, Lisa Williams and Christine Frank (Chris); his children, Cindy Silverstein (Brad), Wendy Stiles (significant other Jeff Sill), Robert Stiles III (Lori), Scott Stiles (Marty) and his former wife, Sandra Kiolbassa, the mother of his children, with whom he shared a common bond. Bob was a proud grandfather to Katie Haynes (Mark), John Blair (Jill), Grace Torres (Ethan), Samantha Silverstein, El- len Brodbeck, Shelby Janaky (David), Jett Power (significant other Rebecca Antho - ny), Rachel Cole (Padraig Keane), Shane Cole (Kaybree), Robert "Ben" Stiles IV (fiancé Reagan Hayes), Sydney Stiles, Bry - ton Wolfe (Kendall), Scotty Stiles, Annika Stiles, and Jovonte Ginez. He is also survived by his cherished great-grandchildren; Emily & Juliet Blair, Colton & Ava Haynes, Hudson Torres, Brody Brodbeck, Kashton & Kellan Cole, Ronan & Fianna Keane, and Jack Wolf. Many nieces and nephews and his faithful black Labrador Retriever "Major." A celebration of Bob's extraordinary life will be held May 12 at Holy Spirit Catholic Church in San Antonio. There will be a rosary at 9:30 a.m. and a funeral Mass at 10 a.m. A reception will be held at the Banquet Hall at Holy Spirit directly following the funeral.
past director of an ACTS retreat. He served as the AKC Hunt Test Chair- man for the Alamo Retriever Club and trained at The Retriever Club of Alaska. He was an Eagle Scout and member of the Eagle Scout Review Board. A proud alumnus of Central Cath- olic High School (1961) and Texas A&M University (1968). He earned his degree from the School of Aerospace Engineering, where he served as the Chairman of the Student Branch of the American Institute of Aeronautics and Astronautics. Bob began his career in the aero- space industry, but it was in the resource development sector that he found his calling-serving as Pres- ident of Drven Corporation, Past President of Diamond Shamrock's
Robert "Bob" Benton Stiles Jr., age 82, passed away on March 31, 2025, in San Antonio, Texas, surrounded by family. Born in Victoria, Texas on Decem- ber 18, 1942, Bob lived a life as big, bold and spirited as the landscapes he loved to explore. Bob was a dynamic leader and global adventurer whose professional achievements were matched only by his deep civic and spiritual commit- ments. A tireless volunteer, accom- plished international businessman, and devoted dog trainer, he brought passion, integrity, and a servant's heart to every corner of his life. He was a member of the Church of the Holy Spirit, Knights of Columbus Council 786, the San Antonio Break - fast Club, St. Vincent de Paul, and a
A celebration of Bob's extraordi- nary life will be held May 12 at Holy Spirit Catholic Church in San Antonio.
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The Alaska Miner
Spring 2025
www.AlaskaMiners.org
Faces of Mining
Ethan Trickey Senior Mine Engineer, Usibelli Coal Mine
In each issue of The Alaska Miner, we recognize a member of our Alaska mining community. This issue we are interviewing Ethan Trickey, Senior Mining Engineer with Usibelli Coal Mine.
What is your role and how did you get into the industry? I am the Senior Mine Engineer at Usibelli Coal Mine. I started working for Usibelli as an intern in 2015 on the reclamation crew and got full-time employment after graduating in 2017 as a mining engineer. I currently work on ex- ploration drilling, geology model- ing, and the 2–7-year mine plan. I wanted to go to school for petro- leum or mining engineering, with the opportunity to play college football at South Dakota School of Mines and Technology all they had was a mining program, so I en- rolled. During my freshmen year, my passion grew for the mining industry, and I knew this was what I wanted to do. Who was your mentor in this industry and what did they teach you that remains true today? My mentor in this industry is my boss Fred Wallis, he is the VP of Engineering at Usibelli Coal Mine. Fred comes from a mining engineering family as his dad is also a mining engineer. As my boss and good friend, he has taught me so much over the last 9 years about engineering and professionalism. He has pushed me to be where I am today. More importantly, he has taught me how to navigate the work-life balance which is cru- cial for everyone. Today, I oversee the reclamation crew at Usibelli. I emulate the way Fred treated me by making work fun, challenging, and rewarding. Fred demonstrated what a special place Usibelli Coal Mine is, and I hope I am leading by the same example. What lessons have you learned that you want to share with new miners? A lesson that I have learned is that mining happens: not every- thing is going to go as planned.
build new roads, so we have more access for the mining industry to grow. What does AMA mean to you? AMA to me is the biggest ad- vocate for mining that we have in Alaska. They bring the mining community from small placer operations to large mining opera- tions together in one organization and act as a voice for all of us on a State and Federal level. From their different committees, newsletters, emails, and statewide and chapter meetings, AMA keeps me informed on what’s happening that can affect my job and the mining in - dustry. AMA is also a place where mining is celebrated and brings us miners from all over the state together during conventions and events. It’s a great place to net- work and help each other grow as a mining community. What do like to do for fun? Living in Alaska and in Healy, I really like to go on adventures in the backcountry. From hiking, four wheeling, and fishing in the summer to hunting in the fall and snowmaching in the winter, I do it all. My biggest passion is snow- maching in the mountains, noth- ing beats a bluebird day with fresh powder in the mountains along with your friends.
and finding the best plan. With strip mining, I get to see these designs come to life and how the mine changes year after year. Where do you see mining in Alaska in 50 years? I see great things and growth ahead for mining in Alaska for the next 50 years. Advances in mining technology are exciting. You’ve seen AMA’s bumper sticker: “If it can’t be grown, it must be mined” and that is so true when it comes to meeting the world’s energy challenges and critical minerals opportunities. Alaska is in a great spot to become one of the major producers of energy and critical minerals needs. What do you see as our biggest challenges? And opportunities? One of our biggest challenges is developing feasible mine plans for known deposits to help them become huge producers in Alas- ka. The permitting process is long and filled with tons of roadblocks. Along with the long permitting process is the remoteness of these deposits in Alaska. There are sev- eral advanced exploration projects in Alaska that can be operating mines, but the challenge is the lack of energy infrastructure. I see that as an opportunity to improve our energy infrastructure and
What was one experience you will never forget? The first time I visited both a surface mine and an underground mine. While attending school in South Dakota I was able to see a Cloud Peak mining operation in the Powder River Basin, and Freeport McMoRan Henderson Mine. To see the massive dragline at the Cloud Peak Mine and go- ing onto the machine is a surreal experience — not to mention the 400-ton haul trucks driving down the road. At the Henderson Mine, I got to see the complexity that goes into planning a block cave operation. They have a conveyor belt that carries the ore 25 miles over the Great Continental Divide! These were my first experiences on a mine site as a young adult that created the passion I have today. What do you love most about this business? As an engineer, I love the tech- nical side of mining. Some people might view it as a giant hole in the ground or digging in the sandbox but there’s so much more that goes into it. From the ultimate pit design, to excavation, to extraction and processing, all these process- es have so many facets to achieve one goal, lowering the cost per ton safely. I enjoy the design process
There are so many factors that go into a mining operation. With that, plans change and for some, it’s hard to adjust. I learned that a good plan has options for potential setbacks, and those options are just as important as the original plan. This way when mining hap- pens you can adjust quickly and get back on track to accomplish the end goal. What would you do differently? I would have gotten more involved with the Alaska Miners Association and mining commu- nity earlier as a student. I didn’t
get involved with the UAF chapter of Society of Mining Engineers until late spring of my junior year. I had never been to an AMA con- ference or the local AMA meet- ings until then. When I finally got involved with SME and AMA I realized I had missed almost 3 years of support from mining companies and individuals. There is a whole community within AMA who are willing to help students in the industry. My advice to students at UAF is to be involved early and often! The mining community in Alaska is special in how supportive they are to students.
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The Alaska Miner
Spring 2025
www.AlaskaMiners.org
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The Alaska Miner
Spring 2025
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MinerMag.indd 2
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New gold rush: Record high prices could spur a big year
placer mine in the Interior. “The biggest thing is: It makes a lot more marginal ground minable.” When gold was selling for less, some low- er-grade deposits weren’t worth mining, Bishop added. “But at $3,000, that’s a different story,” he said. Gold mining has come under heightened scruti- ny in recent years, as the metal has relatively few industrial applications and mostly is snapped up by banks and financial speculators, and for use as jewelry. But gold remains a key part of Alaska’s econo- my, as the backbone of the state’s mining indus- try. The nearly 850,000 ounces produced by Alaska mines in 2024 accounted for some $2 billion — about half of the total value of minerals, including coal, sand and gravel, produced in the state, ac- cording to estimates from the Alaska Department of Natural Resources. At Fort Knox — the state’s largest gold mine — sales rose 64% between 2023 and 2024. That was due partly to a big increase in production, with ore trucked in from the new Manh Choh mine. But the high price of gold also contributed, according to Kinross’ financial reports. Other large gold mines, like Kensington north of Juneau and Pogo near Delta Junction, also reported increases in sales and earnings. Gold’s rising price boosted revenue at Kensington by nearly $40 mil- lion last year, according to its owner and operator, Coeur Mining. “Anybody with an operating gold mine is in a happy spot right now,” said Van Nieuwenhuyse. For his company, Contango Ore, which owns 30% of the large Manh Choh project, the outlook is a bit different than for bigger companies like Kinross. Contango, given its relatively small size, is still paying off debt and sells most of its gold at prices pre-set by banks that loaned the company money to build its share of Manh Choh. It makes some money on those sales, but a lot more on the 30% of its gold that it sells at current prices, according to Van Nieuwenhuyse. “The high- er the gold price goes, the more money we make, and the faster we pay off the debt,” he said. Gold miners across the state say it’s shaping up to be a good year. In Nome, a summer hotspot for placer mining, “things are looking shiny” for the industry, Ken Hughes, a local miner and gold buyer, wrote in an email. Given the growing challenge of finding labor and the usual obstacles from Bering Sea storms, “it may well take the recent record price of gold to keep operators in the field,” Hughes said. “Existing producers are licking their chops at the upcoming season’s prospects,” he added.
RUNNING ALASKA’S REMOTE CAMPS SINCE 1974
statements from Kinross, which owns the massive Fort Knox mine near Fairbanks and the smaller Manh Choh mine, in partnership with Contango, near the Interior town of Tok. But it’s not just the billion-dol- lar companies that are benefitting: Gold’s surge also could buoy Alas- ka’s 150 or so placer operations. Those smaller mining businesses use water to wash heavier gold out of sand and other sediments, often along creekbeds. They tend to be family-run and have smaller profit margins than the large corporations that own Alaska’s biggest hardrock mines — meaning that the rising prices make a big difference. “It’s good for everyone. It’s good for the big mines, small mines,” said Click Bishop, a former state senator from Fairbanks who runs a
the value of gold produced state- wide shot up more than 60% last year from the year before, according to a recent report. “We’re in uncharted territory. And we’ve gotten here very quick- ly,” said Rick Van Nieuwenhuyse, the chief executive of Contango Ore, a Fairbanks-based company devel- oping several gold deposits in the state. The staggering rise in gold’s value, driven by global economic uncertainty and a range of other factors, is translating into a wind- fall for Kinross and the other mul- tinational companies that operate Alaska’s four major gold mines, which reported huge earnings last year. The price of gold is the “largest single factor in determining prof- itability,” according to financial
More mines reporting boosted revenue with historic surge in value A year ago, Alaska’s miners were selling gold at what seemed like a great price: around $2,200 per ounce. Today, that number sounds like a steal. After a historic surge in value, gold is now selling at an all-time high: more than $3,000 an ounce, or an increase of some 35% since the beginning of 2024. That’s great news for gold min- ers across the state, from Nome to Ketchikan — and for businesses of all sizes, from the multi-bil- lion-dollar Kinross Gold Corp. to mom-and-pop placer operations. Owing partly to the hot market,
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