Tongass Approves Kensington Mine Plan
February 2005 by Associated PressCoeur Alaska’s plan to develop the Kensington gold mine and dispose of its tailings in a lake has been approved by the Tongass National Forest.
Greed nearly starved Greece's legendary gold-transforming King Midas to death—but still they haven't learned.
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.
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• Royal Gold, Inc.
• Placer Dome, Inc.
• Homestake Mining Company
• African Metals Corp.
• Vista Gold Corp.
The mining district is more than 110 years old, but the two recreational mining areas are new. The State of Alaska designated the Petersville Recreational Mining Area within the past year and the Alaska Gold Mining Camp is not much older, so you can expect to find some unmined ground!
Fascinated by the sapphires—and the gold that occured with them—he was soon buying parcels of property and setting up his own commercial-scale gravel processing plants.
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