Re-Opening Nevada’s Relief Canyon Mine
March 2018 by Chris Ralph
When I read about these new discoveries, I often wonder how the original operators ignored all the additional ore. Yet this has happened again and again in Nevada and many other places.
Knowing how and when to deduct the cost and expenses of the vehicles used in the prospecting or mining operation can have significant tax implications.
One of the oldest sayings in the mining exploration world is that if you are going to search for a new mine, one of the best places to look is near an existing, proven property.
The main ore deposits of the Ely district are associated with an east-west belt of altered and mineralized rocks measuring about one mile wide that extends 8 miles westward from Ely.
The $800 million project will provide 300 jobs during production. It will be the only US mine where nickel is the primary targeted mineral, with about 360 million pounds to be extracted.
The Lucky Friday is already one of North America’s deepest hard-rock mines. Now, the 62-year-old mine is about to get much deeper.
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The metal is expensive, not because it is rare but because of the expense to produce and work it. The minerals mined for titanium are all oxides, unlike many base metals that are mostly mined as sulfide minerals.
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