Alaska’s mining industry is on the cusp of a major breakout. With its over 7,400 documented prospects, Alaska ranked as the fifth most attractive mining jurisdiction globally (out of approximately 80 worldwide jurisdictions).
Today, the state is poised to rise even higher thanks to its rich geological landscape and untapped mineral resources. Investors and industry experts alike are turning their attention north as Alaska’s potential to become a leader in both precious and critical metals production becomes increasingly clear.
With gold and prices climbing and demand for critical minerals such as zinc, copper, and lead growing, Alaska's vast, underexplored terrain could hold the key to the next major mining boom.
Alaska’s geological advantage lies in its diverse metallogenic provinces, boasting rich deposits of gold, silver, zinc, and other valuable minerals. In addition to its world-class reserves, the state’s stable political environment and pro-mining regulations make it an attractive destination for exploration and development.
As more projects gain momentum, the stage is set for Alaska to solidify its role as a global mining powerhouse. The real question is: how high can Alaska climb?
Alaska as a Premier Mining Jurisdiction
Alaska isn't just home to vast wilderness—it's one of the top mining jurisdictions in the world.
According to McKinley Research Group, mining and minerals exploration contributed over $2.5 billion to Alaska’s economy during 2023, as the state’s mineral-rich landscape continues to attract global attention.
Alaska has achieved a ranking of 5th in global mining attractiveness thanks to its vast reserves of gold, silver, and zinc, among other critical metals. What makes Alaska stand out? A pro-mining government, world-class infrastructure, and over 7,400 documented mineral prospects.
Mining companies are eyeing Alaska for its stability and potential, and with the industry supporting over 11,800 jobs and generating $1.1 billion in wages in 2023, it's clear that Alaska’s mining boom is only getting started.
Alaska’s Precious Metals: The Hidden Strength Behind Soaring Gold and Silver Markets
Gold is maintaining its position above the critical $2,500 mark as investors brace for economic uncertainty. As inflation concerns mount and geopolitical tensions persist, demand for this time-tested safe haven is surging. Silver, currently at $28 per ounce, is experiencing similar upward momentum due to its essential role in modern technologies like solar power and electric vehicles.
Alaska, already a major player in the global gold and silver markets, stands to gain significantly.
Producing 3.5% of the world's gold and 1.5% of the world’s silver, Alaska’s reserves are becoming more important as precious metal prices climb. With soaring demand for both gold and silver, Alaska’s rich deposits are positioned to meet the world’s growing appetite for these valuable resources.
Alaska’s Critical Minerals – A Strategic Asset
As the world shifts towards cleaner energy and advanced technology, the demand for critical minerals has skyrocketed. Metals like zinc, copper, and lead are essential for everything from electric vehicle batteries to renewable energy systems.
Alaska, with its rich deposits of these minerals, is uniquely positioned to meet this growing demand, supplying 3% of the world’s zinc, 0.3% of the world’s copper, and 1.6% of the world’s lead.
Alaska’s Red Dog Mine is one of the world’s largest producers of zinc, supplying over 50% of the state’s mineral production value.
Beyond zinc, Alaska’s critical mineral deposits include copper, lead, and rare elements like graphite, which are vital for the energy transition. As global supply chains for these materials become increasingly strained, Alaska’s potential to provide a stable and domestic source of critical minerals becomes even more important.
The CRD Advantage—Alaska’s Unique Opportunity
Carbonate Replacement Deposits (CRDs) represent one of the most exciting opportunities in modern mining. Known for their rich, high-grade ore bodies of silver, lead, and zinc, CRDs are attractive targets for mining companies due to their efficiency and reduced environmental impact.
Globally, CRDs have been responsible for some of the largest silver and base metal discoveries, and Alaska’s unexplored terrain may be hiding the next big CRD find. CRDs are already reshaping mining districts across the globe, producing incredible quantities of valuable metals.
Here’s a look at some of the world’s top-producing CRD mines:
1) Santa Eulalia (Mexico): This prolific district has produced over 450 million ounces of silver, along with substantial quantities of lead and zinc, making it one of the largest CRD producers in Mexico.
2) Fresnillo (Mexico): Hosting one of the world’s largest silver mines, the Fresnillo silver trend is the world’s premier silver mining belt, having produced more than 6.2 billion ounces of silver over its lifetime, which is greater than 10% of world historical production.
3) Platosa Mine (Mexico): Known for its high-grade ore, Platosa saw over 500,000 tonnes mined for high-grade silver-lead-zinc after opening in 2005.
4) Manto Verde (Chile): Primarily a copper mine, Manto Verde still exemplifies the value of CRDs, with the expectation of processing 236 million tonnes of copper sulphide reserves over a 20-year expected mine life.
5) Taylor Deposit (Hermosa Project, Arizona, USA): Expected to begin production in 2027, the Taylor deposit will produce 7.3 million ounces of silver, 111,000 tonnes of zinc, and 138,000 tonnes of lead annually.
These examples highlight the immense economic potential of CRDs. Alaska, with its untapped resources and favorable geological conditions, could be home to the next major CRD discovery.
Alaska’s underexplored metallogenic provinces could hold the key to unlocking vast stores of precious and base metals, positioning the state to follow in the footsteps of world-renowned CRD districts.