Fort Knox Mine Expansion Will Boost Fairbanks Economy

State Support for Responsible Mining Allows for Mine Expansion onto Adjacent State Land

Anchorage – Alaska State Representatives Scott Kawasaki (D-Fairbanks) and Adam Wool (D-Fairbanks) have released the following statements in response to Tuesday’s announcement that the developer of the Fort Knox gold mine near Fairbanks will proceed with a mine expansion onto adjacent land owned by the State of Alaska. The Kinross Gold Corporation reports that the proposed expansion will produce 1.5 gold equivalent ounces and extend the life of the Fort Knox Mine to 2030.

“Expanding the Fort Knox Mine will be good for the local economy and shows that the State of Alaska is a good partner in responsible mining projects. The Fort Knox Mine is one of the safest mines on earth and is a shining example of how to do it right in a challenging environment. I wholeheartedly support the mine expansion onto state land and hope the permitting process can be expedited,” said Rep. Kawasaki.

The land that will be used for the expansion of the Fort Knox Mine was formally owned by the federal government. It was transferred to the State of Alaska in December of last year.

“Extending the life of the Fort Knox Mine would be a boost for the Fairbanks economy. The mine features hundreds of good paying local jobs and produces significant state and local tax revenue. I support this use of adjacent state land because it shows the State of Alaska can be a good neighbor and landlord for responsible mining projects,” said Rep. Wool.

Kinross Gold Corp. estimates that the capital investment to expand the Fort Knox Mine will be around $100 million, and more exploratory drilling will take place next year. Currently, the mine employees around 630 people.

Kinross Gold Corp. estimates that the capital investment to expand the Fort Knox Mine will be around $100 million, and more exploratory drilling will take place next year. Currently, the mine employees around 630 people.

For more information, please contact Alaska House Majority Coalition Press Secretary Mike Mason at (907) 444-0889.

Mike Mason
Press Secretary, Alaska House Majority Coalition
Phone: (907) 444-0889

akhouse.org
www.facebook.com/AKCoalition
www.twitter.com/AKCoalition