Accord Reached On Alaska Gold Mine

Coeur d’Alene Mines Corp. has reached an agreement with a group of native Alaskans over the construction of the Kensington gold mine in Southeastern Alaska.

Coeur will work with Goldbelt Inc., Kake Tribal Corp. and Klukwan Inc. to bring the project on-line. The three native corporations will provide leases for land that could be used in the mine’s development, and members of the corporations will be hired to work at Kensington and will help coordinate the mine’s construction.

Coeur had met the environmental requirements to build the mine, but wanted to work with local native corporations to make sure the project would fit well in the community. After much negotiation, Coeur and the native corporations agreed to work together on Kensington.

Kensington is a large gold mine with 2 million ounces of proven gold reserves. It could be opened within two years and produce 200,000 ounces of gold each year. , DataTimes