Coeur Alaska is currently constructing the Kensington underground gold mine in Southeast Alaska. With a commitment to operate at the highest standards of environmental, safety, and health compliance, Coeur Alaska looks forward to making a lasting contribution to the economic vitality of the region.
- Original goal to complete construction and begin operating toward the end of 2007
- More than 100 years of mining history in the Kensington area
- Coeur obtained 100% ownership of Kensington interest in 1995
- Major permitting process completed in 2005 (one permit subject to continued legal challenge)
- Capital cost $238 million
- Cash production cost of $310/oz in early years of operation
- 400 workers at peak construction
- 200 workers once mine begins operating
- Approximately $16 million in annual wages and benefits
- Millions of dollars in state and local taxes
- As much as 150,000 ounces of annual production in early years of operation
- Underground trackless ramp
- On-site flotation mill (does not use cyanide recovery)
- Property covers approximately 6,000 acres northeast of Juneau, but affects less than 4% of total mine area
- Nearly 60 environmental and regulatory permits in place
- Twice-approved permit from U.S. Army Corps of Engineers for handling of tailings
- Tailings are inert sandy material
- Almost half of tailings to be recycled back into mine
- Remaining tailings to be placed in small non-productive lake: “the best and only option” according to review and permitting by agencies
- No other option is permitted for disposal of Kensington tailings
- Tailings area to be reclaimed to a productive lake upon completion of mining
- Reclamation bond in place
- Significant ongoing contributions to a variety of local organizations
- Significant support among native groups, political and community leaders
- Support/sponsorship of local miner training programs
- More than 1.352 million ounces of gold mineral reserves
- Significant additional gold mineral resources: 623,000 oz indicated and 243,000 oz inferred
- Active exploration drilling program to expand mineral reserves and resources
- Mining takes place underground (ie, no open pit)
- Underground design means limited above-ground visual impact
- Mine and most infrastructure not visible from major waterways (Berners Bay or Lynn Canal)
- Mine location in remote area away from recreational use
