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1、WESTERN USAMINING2024Top Jurisdictions-Production and Development-ExplorationGreen Transition-Critical Minerals-Labor Shortage-Digitalization WESTERN USA MINING 2024GBR SERIESAlfonso TejerinaDirector and General ManagerGlobal Business ReportsThe last year has been transformational for the mining ind

2、ustry in the Western US.The motto“Mined in America”now prevails across the entire mining value chain,and was mentioned during most of the interviews Global Business Reports(GBR)conducted for this Western USA Mining 2024 report.There is currently a prime for operating in the USA,with reshoring findin

3、g favor among investors,operators,and government alike.The geopolitical nature of the energy transition,where some minerals can be weaponized with dire economic effects for the US economy,has led Washington to play its cards.The Biden-Harris Administration has passed several bills and regulations,in

4、cluding the IRA and the CHIPS,to foster a domestic supply chain of critical minerals,and the entire mining industry is adapting to try and leverage these.However,challenges persist,some self-imposed and others due to the cyclical nature of mining.The US mining industry confronts a growing labor shor

5、tage,hindering efforts to meet Washingtons goals and the increases of production required by the energy transition.Additionally,cumbersome permitting processes and opposition from environmental groups present obstacles to bringing new mines online.While navigating these challenges,miners,engineering

6、 and consultancy firms,as well as service providers must strike a balance between sustainability and profitability,while conveying the message that mining is necessary to maintain the current foundations of American society and the economy,and is fundamental in realizing a greener future.Off-take ag

7、reements between mining companies and automakers are breaking the silos that characterized industries until a few years ago,contributing to a more vertically-integrated supply chain.The goal is the same:To extract the minerals necessary to ensure a more sustainable future and reduce dependence on ot

8、her countries.This Western USA Mining 2024 report offers a comprehensive analysis encompassing more than 100 interviews with mining leaders across the largest mineral-producing region in the US.In the upcoming pages,we give a voice to the key players as they share their insights and thoughts on the

9、challenges and opportunities that the industry is undergoing,as well as outlining their ambitions.We would like to thank all those who contributed to this report,and express particular gratitude to our partner associations at both state and national levels.Use QR code to read the digital interactive

10、 version of this report.WELCOME LETTERGBR SERIES|WESTERN USA MINING 20243 Dear Readers,Introduction 6-21Production and Development 22-67Equipment,Technology and Service Providers 86-103A Global Business Reports PublicationFor updated industry news from our on-the-ground teams around the world,please

11、 visit our website where you can suscribe to our newsletters,and follow us onX(Gbreports)and Linkedin.WESTERN USA MINING 2024GBR SERIESGlobal Business ReportsIntroduction8.Introduction to the Western USA Tier one jurisdictions12.Interviews with the Nevada Mining Association and with the Arizona Mini

12、ng Association13.Interview with the Wyoming Mining Association15.Green Energy Transition and the Role of the USA17.Interview with the American Exploration&Mining Association18.Interview with Asterra19.Interview with VerAI Discoveries20.Labour Shortage21.Interview with University of ArizonaProduction

13、,Development and Exploration24.Precious Metals Production and Development27.Interview with Barrick Gold28.Interview with Nevada Gold Mines29.Interview with Hecla Mining30.Interview with Coeur Mining31.Interview with Elevation Gold Mining33.Interviews with Contango Ore and with i-80 Gold 34.Interview

14、s with Hycroft Mining and with Idaho Strategic Resources35.Precious Metals Exploration36.Highlighted Projects:Precious Metals37.Copper Production and Development40.Interviews with Freeport-McMoRan and with Asarco41.Interview with Capstone Copper42.Interview with Resolution Copper43.Interview with Ar

15、izona Sonoran Copper44.Copper Exploration46.Interview with Ivanhoe Electric47.Interview with Excelsior Mining48.Interview with Idaho Copper49.Interview with Copper Bullet Mines50.Highlighted Projects:Copper51.Lithium Production and Development53.Interview with Albemarle54.Interviews with Ioneer and

16、with Lithium Americas55.Interview with American Battery Technology Company56.Lithium Exploration58.Interview with Grid Battery Metals59.Highlighted Projects:Lithium60.Rare Earths,Graphite and Nickle Development and Exploration62.Interview with American Rare Earths63.Interview with Champion Electric

17、Metals64.Highlighted Projects:Rare Earths,Graphite and Nickle65.Uranium Development and Exploration67.Highlighted Projects:UraniumEngineering and Consultancies70.Water and Environmental Stewardship73.Expert Opinion Article:Sustainable Sourcing of Critical Minerals74.Interview with SRK 75.Industry In

18、sights:Consultancies76.Interview with Intera77.Engineering79.Interview with Practical Mining80.Interview with Darling Geomatics81.Industry Insights:Engineering82.Contractors83.Interview with Small Mine Development84.Interview with Cementation Americas85.Interviews with Master Drilling and with Turne

19、r Mining GroupEquipment,Technology and Service Providers88.Mining Equipment and Drilling90.Interview with Epiroc91.Interviews with Empire Southwest and with Veracio92.Material Handling and Mining Components94.Interview with Takraf95.Technology97.Interview with Strayos98.Interview with 3-DP99.Intervi

20、ews with ASI Mining and with Micromine100.Blasting and Chemicals101.Interview with Dyno Noble102.Interview with Cyanco103.Interviews with Brenntag Pacific and with Solenis104.Company Directory107.CreditsGBR SERIES|WESTERN USA MINING 2024TABLE OF CONTENTSGBR SERIES|WESTERN USA MINING 20245 UNITED STA

21、TES OF AMERICAGraham RichardsonCFOFARADAY COPPERThe US and,more broadly,Western countries are realizing the risk of relying on foreign countries like China for critical supply chains due to potential trade disputes.This realization leads to changes,but as with all change,it takes time.GBR Series WES

22、TERN USA MINING 2024Image by Josemaria Toscano at Adobe StockIntroductionFew countries contain vast land exten-sions rich in minerals comparable to the US.From the discovery of gold in Californias Sierra Nevada mountains during the gold rush,to the emergence of copper mines in the deserts of Ari-zon

23、a,and the wild and untapped Alas-kan wilderness,the Western US hosted some of the most prolific mining oper-ations in history.Mining for silver and gold is embedded in the early history of many Western states.However,in todays world order,mining has gone way beyond precious metals and is playing a p

24、ivotal role in geopolitics by extracting critical minerals and rare earth elements(REE).Moreover,the Western United States stands out as the primary hub for ex-tracting metals and metallic minerals,including Nevada,Arizona,Wyoming,Idaho,Utah,Alaska,Colorado,Califor-nia,Montana,New Mexico,Washing-ton

25、,and Oregon.According to the data from United States Geological Survey(USGS),the Western US,encompassing the states of Washington,Oregon,Cali-fornia,Nevada,Idaho,Montana,Utah,Arizona,Wyoming,Colorado,New Mex-ico and Alaska,emerged as the leading region in metal and metallic mineral production,accoun

26、ting for over US$27 billion of production,or 77.8%of the total US production.Nonfuel mineral production in the US reached US$98.2 billion in 2022,an increase of 4%from US$94.6 billion in 2021.The top 10 producing states and their respective production values were:Arizona(US$10.1 billion),Ne-vada(US$

27、8.9 billion),Texas(US$8.0 billion),California(US$5.6 billion),Min-nesota(US$4.8 billion),Alaska,(US$4.5 billion),Utah(US$3.6 billion),Michigan(US$3.4 billion),Missouri(US$3.2 bil-lion),and Florida(US$2.8 billion).Con-versely,the estimated value of Ameri-can metal mine production in 2022 amounted to

28、US$34.7 billion,reflecting a 6%decrease compared to 2021.While some Western states like Washington,Oregon,Idaho,Montana,Wyoming,and New Mexico did not se-cure positions in the top-10 list of pro-ducing states,others such as Arizona,Nevada,and California compensated for this,effectively balancing the

29、 over-all production compared to the other regions.Finally,in terms of commod-ity,the principal contributors to the total value of metal mine production were copper,gold,iron ore,zinc and molybdenum,accounting for 33%,28%,15%,9%and 5%,respectively.Despite its importance,the min-ing industry in the W

30、estern US is con-fronting significant pressure.On a broad scale,miners are compelled to function within rigorous environmen-tal standards,requiring a continuous demonstration of their commitment to investing in and adopting new technol-ogies to enhance sustainability.At the same time,at the explorat

31、ion stage,miners are grappling with a cumber-some permitting process that acts as a barrier,impeding the development of the next generation of mines crucial for the ongoing energy transition.The Paris Agreement of 2015,which set ambitious goals to reduce emis-sions by 45%by 2030 and reach net zero b

32、y 2050,is an opportunity for many critical minerals-producing states like Arizona,the copper state,or Nevada,where lithium is abundant,to help achieve these targets,but the energy transition has taken on a geo-political dimension,especially amid es-calating political tensions involving the West,Chin

33、a and Russia.Certain miner-als,vital for achieving decarbonization goals,have become a national priority for Washington,driven by economic considerations and strategic defense imperatives.Recent events have un-derscored the vulnerability of the US supply chain,revealing potential dis-ruptions that c

34、ould have far-reaching consequences.Like a domino effect,the scarcity of a particular mineral can trigger negative impacts in unexpected sectors of the economy.In this context,the US has forged alli-ances with its allies and developed new policies.Where jurisdictions like Ontar-io or Qubec have been

35、 working in the last years on a critical minerals strategy,the Western US applauded and wel-comed the decision of the US Depart-ment of Energy(DOE)to include copper for the first time in its Critical Materials Assessment,published in July 2023.Asserting that the US can establish a complete domestic

36、supply chain of certain minerals is bold,especially un-der current conditions.While political interest might be there,the reality is that there is a lot of work to do in terms of permitting and educating society.As long as these factors do not align,a ful-ly integrated US domestic supply chain may r

37、emain only an American dream.Nevada In 2022,gold production from mines in Nevada totaled slightly over 4.04 mil-lion ounces(oz),a decrease from the 4.47 million oz recorded in 2021.Silver production amounted to 5.47 million oz,down from 6.22 million oz in 2021,as the Nevada Division of Minerals repo

38、rted.Copper production in 2022 amounted to 141.77 million pounds(lb),a decrease from the 163.73 million lb reported in 2021.On the other hand,molybdenum production experienced an increase,reaching 275,620 lb com-pared to 240,000 lb the previous year.Being the primary hub for gold and sil-ver product

39、ion in the Western US,and home to companies like Nevada Gold Mines,Coeur Mining,Jerrit Canyon-First Majestic Silver,and i-80 Gold,Ne-vadas economy has experienced a de-cline.Despite this downturn,the state still boasts a noteworthy economic output and GDP contribution,amount-ing to an impressive US$

40、12.6 billion and US$4.9 billion,respectively.Maintaining an unbiased perspec-tive when evaluating Nevada as a min-ing jurisdiction can be challenging.It is difficult not only because the Fraser Institute consistently ranks Nevada as the top global mining jurisdiction for investment(including for 202

41、2),but also due to the surge in activity across various minerals and the entire value chain,establishing Nevada as a verti-cally integrated state.All that glitters in Nevada is indeed not gold.The state is home to the only lithium-producing mine in the US;the Silver Peak operation from Albemarle.The

42、 surge in activity within the lithium exploration sector has positioned the Tonopah-Clayton Valley area,with its clay-rich deposits,as a potential glob-al lithium hub.ABTC,having received funds from the DOE,is establishing a cutting-edge facility in Tonopah to manufacture battery-grade lithium hydro

43、xide from claystone deposits to-gether with a recycling plant.Similarly,Ioneer has secured DOE funds for its chemical processing facility,advancing its Rhyolite Ridge lithium-boron proj-ect.Furthermore,in Northern Nevada the construction of Lithium Americas Thacker Pass is a notable example of the s

44、tates commitment to the white gold revolution.There is abundant investment flow-ing in from the Inflation Reduction Act and the Bipartisan Infrastructure Act.Mining,auto,battery,and technology companies are coming together in the state to develop the homeland lithium supply chain.In the not-so-dista

45、nt fu-ture,we will likely be referring to Ne-vada as the Lithium State,stated Pan American Energys CEO and president,Jason Latkowcer.Indeed,Nevada is also home to Teslas Gigafactory,and more recently,Biden named the Nevada Lithium Bat-teries and Other EV Material Loop,led by the University of Nevada

46、,Reno,one of 31 federally recognized regional tech hubs across the nation.This Tech Hub aims to position Nevada as a ro-bust node in a critical supply chain,enhancing the resilience and competi-tiveness of the battery economy and accelerating the energy transition.In addition to DOE funding,several

47、off-take agreements are unfolding in the state.For example,Lithium Americas has signed an off-take agreement with Introduction to the Western USATier-one jurisdictionsRelying solely on allies for our needs is no longer a viable strategy.While complete mineral independence may be challenging,responsi

48、bly utilizing our domestic resources whenever feasible is imperative.Mark ComptonExecutive Director AMERICAN EXPLORATION&MINING ASSOCIATION(AEMA)Image courtesy of Freeport-McMoRan9 GBR SERIES|WESTERN USA MINING 2024EDITORIAL8 GBR SERIES|WESTERN USA MINING 2024General Motors.Ioneer has partnered with

49、 Ford Motors,Prime Planet Energy Solutions(a JV between Toyota Motor Corporation and Panasonic Corporation),EcoPro,and,more recently,DragonFly.These partnerships have broken the si-los that characterized the industry until a few years ago and will foster synergies across different players in the sup

50、ply chain,reshaping it into a more vertically integrated structure in Nevada,paving the way for earlier-stage projects.ArizonaIf in Nevada what glitters is either gold,silver or lithium,in Arizona,the warm,red desert landscape resembles the richness of copper.Arizona,the copper state,where ma-jor co

51、pper mines belong to big players such as Freeport-McMoRan,Asarco,Carlota Copper(a subsidiary of KGHM International),Taseko Mines Florence Copper asset,and Excelsior Mining,maintained its position as the leading copper-producing state,accounting for approximately 70%of domestic output.In the past yea

52、r,Arizona has maintained its position in the top 10 most attractive jurisdictions for investment,accord-ing to the Fraser Institute.However,there has been a slight decrease of 2 points in the Investment Attractiveness Index,moving from the 5th spot out of 84 to the 7th out of 62.Despite the decline,

53、all producing mines in the copper state make a significant contribution to the states economy:“Ari-zona mining production was over US$10 billion and ranked 1st in the nation in 2021 and 2022.The hard rock mining sector is a US$14.2 billion industry,and combined with the aggregate industry,it is US$2

54、0 billion impact on the states economy,”said Steve Trussell,president of the Arizona Min-ing Association.Many of these producing mines and several other explo-ration-development projects are located at the states heart,in what is known as the Copper Triangle:“To put this in perspective,there are onl

55、y three copper smelters in the US,and two are in the Copper Triangle.To date,the triangle has produced approximately 37 billion lb of copper,and there are still believed to be over 95 billion lb of known reserves and resources,”stated Dan Weir,co-founder and CEO of Copper Bullet Mines.If Arizona is

56、rich in copper,it is poor in water.As one of the driest states in the US,society closely scrutinizes water usage by mining operations.This has encouraged companies to invest in research and development,emphasizing envi-ronmental stewardship to showcase that copper extraction can be more sustainable.

57、Thus,Arizona has emerged as a focal point for companies delving into in situ recovery(ISR),a method for extracting copper with minimal disruption to the surface environment.By learning from the uranium seg-ment,companies like Excelsior Mining and Tasekos Florence Copper are adopting this eco-friendl

58、y approach,opening the door for earlier-stage companies like Copper Fox to follow.Arizonas abundant copper resources continue to attract major players.For instance,Arizona Sonoran is advancing its brownfield Cactus project,incorporating the Parks/Salyer de-posit under a new PFS.The states copper ric

59、hness has moti-vated the technology division of Rio Tintos Nuton to explore innovative leaching methods to unlock the copper potential.On the other hand,despite navigating the intricacies of the global mining permitting process,the Resolution Cop-per project,a joint venture between Rio Tinto and BHP

60、,stands as a clear example of coppers significance for Arizo-nas future if the US would work on streamlining the permit-ting process.With a projected LOM spanning 60 years,the project is anticipated to generate around 3,700 direct and indirect jobs,potentially fulfilling up to 25%of the current US c

61、opper demand.AlaskaAlaska,renowned as the second-largest gold producer in the United States and the top silver producer in 2022,sur-passing Nevada,is also considered one of the best mining jurisdictions.Despite a slight drop of 5 points,ranking 11th in the Fraser Institutes survey,mining activity in

62、 this geolog-ically rich state remains robust.Key mines in Alaska include Tecks Red Dog mine in the Northwest Arctic region,extract-ing zinc,lead and silver;Heclas Greens Creek and Coeur Minings Kensington mine in the Southeast region,yielding silver,zinc,gold and lead.Northern Stars Pogo and Kinros

63、s Fort Knox mine primarily focus on gold in the Interior re-gion.Finally,Alaska is home to the Usibelli coal mine,the only active coal mine in the state.More recently,the Manh Choh mine,a JV between Contango Ore and Kinross,was brought online to produce gold leveraging Fort Knoxs mill.According to t

64、he figures from the Alaska Miners Asso-ciation,mining plays a pivotal role in Alaskas economy,generating 11,400 jobs and contributing US$1 billion in wages statewide.In terms of exploration,the state has seen US$645 million spent in 2022,and noteworthy projects in-clude the Whistler gold-copper proj

65、ect and the Donlin proj-ect for precious metals,and for critical minerals and REE the Bokan REE project,Graphite Creek,Niblack,Palmer,Upper Kobuk and the Pebble project.Explorers are drawn to Alaska for its vast,wild expanses that present an untapped jurisdiction;juniors navigate the potential for d

66、iscovering world-class deposits while grap-pling with infrastructure limitations.Exploration and in-frastructure are related,and exploration companies are looking for terrains that can deliver geologically but also balance your understanding of the geologic potential with the relative opportunity th

67、at under-exploration and remote areas offer,explained Tim Smith,president and CEO of U.S GoldMining,which owns the Whistler gold-copper project.Alaska includes part of the Golden Triangle,a renowned region encompassing significant gold,silver and copper de-posits that stretches to Stikinia,British C

68、olumbia,Canada.Yet,the US side is often neglected,missing out on potential synergies that could be leveraged with its neighbor,Canada.Despite witnessing numerous billion-dollar buyouts and ongoing mine developments in the Golden Triangle,the US side seems overlooked,especially on the Alaska side.Geo

69、-logically,such boundaries do not abruptly cease,prompting curiosity and further exploration,said Morgan Lekstrom,CEO of Blackwolf Copper and Gold.Wyoming,Utah and Colorado,the state agreements and a hub for critical minerals While there is no historical evidence,it is believed that Abra-ham Lincoln

70、 once stated Utah will yet become the Trea-sure House of the nation.These words ring true,not only for Utah but also for Wyoming and Colorado.These three geologically diverse states share common themes in their mineral wealth.Regarding the Fraser Institute figures,Wyoming was not listed on the index

71、.Utah dropped 11th to 17th in the invest-ment attractiveness index but rose to 4th in policy rankings.The most notable change was for Colorado,which signifi-cantly improved its policy standing,moving from 37th to 9th place with a 17-point increase in its policy score.This improvement translated into

72、 a higher overall ranking,ele-vating Colorado from 20th in 2021 to 5th in the 2022 Invest-ment Attractiveness Index.Because they are agreement states,they have entered into agreements with the US Nuclear Regulatory Commis-sion(NRC)to regulate certain radioactive materials within their borders,includ

73、ing uranium mining and milling.New facilities only need to go through state-level permitting for radiological concerns,eliminating the need for NRC involve-ment.This change has significantly reduced the time re-quired for permitting,explained John Cash,president and CEO of Ur-energy.Utahs Henry Moun

74、tains and La Sal Complex,Wyomings Laramie Mountains,and Colorados Uravan Mineral Beltall in the Colorado Plateaushowcase the potential that these states will play in the green transition.Colorado is also renowned for the Colorado Mineral Belt,known for its rich deposits of gold,silver and copper.Mea

75、n-while,Wyoming is emerging as a critical player in the Rare Earth Elements(REE)segment and features rich REE loca-tions such as Bear Mountain in the north and the Laramie Mountains in the south,housing the flagship projects from American Rare Earths and Rare Element Resources.These companies are ad

76、vancing their respective projects and forg-ing partnerships with various entities ranging from govern-mental agencies to universities.In their pursuit of extract-ing REEs,Wyoming is giving birth to an innovative approach that diverges from conventional practices seen in other countries,like China,to

77、 extract these minerals.Environ-mental considerations remain at the forefront for the state and mining companies.Idaho and MontanaIdaho and Montana,while not as famous as Nevada and Ari-zona,have a rich history rooted in mining.Both states share a profound mining legacy,but their future role in crit

78、ical minerals may be more promising.Despite falling out of the top 10 investment-friendly jurisdictions,dropping from 7th to 28th in this years Fraser Institute survey,exploration,and development companies in these states remain optimistic about the states approach toward mining.Laurel Sayer,preside

79、nt and CEO of Perpetua Resources,said:Idahos commitment to balancing natural resource development with sustainability for future generations is truly commend-able.We derived our name,Perpetua Resources,from the states motto,Esto Perpetua,underscoring our dedication to responsible resource stewardshi

80、p.The accessibility of state government agencies and their solution-focused ap-proach to discussions regarding permitting aspects further bolsters this commitment.Idaho hosts two vital mineral belts:The Idaho Cobalt Belt and the Idaho REE-Thorium Belt.The Idaho REE-Thorium Belt runs in close alignme

81、nt,situated 15 miles east of the more widely recognized Idaho Cobalt Belt.Much like Alas-ka,Idaho is not as mature and developed as other mining jurisdictions,making it open to new discoveries.Jonathan Buick,president and CEO of Champion Electric,comment-ed:“Idaho is an attractive destination for mi

82、ning due to its well-established mining code,a strong foundation of the rule of law,and a supportive environment for the mining industry.Moreover,the state has not witnessed the same level of historical investment as neighboring states like Ne-vada.Consequently,there remains a regional opportunity f

83、or mining ventures,with vast geologic potential waiting to be tapped within the state.”For its part,Montana,similar to Colorado and Nevada,has experienced an improvement in its ranking on the Fraser In-stitutes Attractiveness Index.As of the latest data,Montana now holds the 23rd position,showcasing

84、 an ascent from its previous 31st position.In southern Montana,the Stillwater complex has been a prolific source of platinum group ele-ments(PGEs),nickel,copper,chromium and other minerals.According to Michael Rowley,president and CEO of Stillwa-ter Critical Minerals:Montana is undeniably a pro-mini

85、ng state.With its century-long history of mineral production,the Stillwater District stands as a testament to the regions mining-friendly environment.14EDITORIALEDITORIAL10 11 GBR SERIES|WESTERN USA MINING 2024GBR SERIES|WESTERN USA MINING 2024Can you provide an overview of the Wyoming Mining Associ

86、ation?The Wyoming Mining Association(WMA)has been active for 65 years.We represent about 30 member companies engaged in mining,covering a di-verse range of minerals.While uranium was the primary focus in the 1950s,our current flagship commodity is coal,with Wyoming being the nations largest coal pro

87、ducer,accounting for 40%of the countrys coal production.We advocate for the coal industry at both state and federal levels,facing challenges due to climate change initiatives and the Biden administrations shift away from fossil fuels.In addition to coal,we mine trona,a unique mineral processed into

88、natural soda ash,which finds applications in various industries,includ-ing glass,chemicals,and lithium batteries.Natural soda ash from trona is becoming increasingly significant in addressing global climate change through applications like flue gas desulfurization and carbon capture tech-niques.Beca

89、use of this,our industry is looking at significant expansion in the near future.Bentonite clay is another key industrial mineral used in oil and gas products,cosmetics,clarifying agents,fertilizer,and cat litter.And although currently scaled back,our uranium production aims to revital-ize in respons

90、e to renewed interest in nuclear energy.Furthermore,we are exploring rare earth deposits,considered among the richest in North America.What measures is Wyoming taking to secure domestic supply chain for critical minerals?Wyoming is strategically positioned to address the geopolitical challenges affe

91、cting critical minerals,particularly in the uranium sector.The dependen-cy on Russia for nuclear fuel raises national security concerns,prompting efforts to enhance domestic uranium production.With its in-situ mining op-erations,Wyoming is poised to contribute to this revival.Legislative support at

92、both state and federal levels is aiding these endeavors.Challenges such as supply chain issues persist,hindering a swift ramp-up.In addition to uranium,Wyoming is actively involved in addressing the de-mand for rare earth minerals.Projects led by private companies,along with support from institution

93、s like the University of Wyoming,aim to explore and exploit rare earth deposits.Legislative reforms are streamlining regulatory processes,fostering a comprehensive,all-encompassing effort to develop critical minerals.What are the primary challenges facing the mining industry in Wyo-ming?Permitting,p

94、articularly on federal land constituting 50%of Wyoming,poses a significant hurdle.While uranium operations find some relief with state-level primacy,federal regulations,including those by the NEPA process,involve a complex web of oversight agencies,making it time-consuming and costly.Workforce scarc

95、ity,especially in the nuclear and uranium sectors,presents another critical challenge,requiring efforts to raise awareness among young individuals and address the reluctance to work in remote areas.Travis DetiExecutive DirectorWYOMING MINING ASSOCIATION(WMA)How important is the mining indus-try to N

96、evada?Nevada has long stood as the nations leading mining jurisdiction.We are at the forefront of mineral extraction and production,crucial for 21st-centu-ry needs,positioning us as a forward-focused industry.Our role is pivotal in laying the foundation for green tech-nology trends and transition,co

97、ntrib-uting to a sustainable future.In 2022,our sector contributed a to-tal economic output of US$12.7 billion and a US$4.9 billion contribution to the states GDP.We achieved this with just 1%of Nevadas workforce,dem-onstrating remarkable efficiency.The approximately 36,000 mining-related employees

98、earn wages double the state average,totaling around US$3 billion,creating a substantial econom-ic impact throughout Nevada.How is the labor shortage affecting the industry?Despite offering attractive salaries,finding qualified individuals to fill positions has proven challenging,exacerbated by the r

99、emote loca-tions of mining sites.Over the past two decades,the closure of mining schools in the US has contributed to a shortage of professionals,including geologists,environmental scientists,mining engineers,and metallurgists.The impact of these closures is now evident as the industry experiences a

100、 resurgence,emphasizing the pressing need for skilled personnel.Is the labor shortage due to mis-conceptions about mining,and how does the NVMA bridge this gap?A recent study focusing on individuals aged 15 to 30 revealed a notable reluc-tance to work in the mining industry,a sentiment attributed to

101、 misconcep-tions.The industry is often perceived through a historical lens.In reality,the sector has evolved significantly,with enhanced safety measures and increased female representation.One of the most effective tools for dispelling misconceptions about the mining industry is organizing mine tour

102、s.By taking teachers and stu-dents on field trips to active mine sites,we provide firsthand exposure to 21st-century mining practices.The NVMA,in collaboration with the Ne-vada Division of Minerals,has been hosting annual teacher workshops for Dana BennettFormer Interim PresidentNEVADA MINING ASSOCI

103、ATION(NVMA)What is the role and evolution of AMA in supporting Arizonas min-ing industry?We are interested in maintaining the viability of the industry in three ways:Community relations,regulatory work,and public policy.We strive to keep Ari-zona the number one producer of non-fuel minerals in the n

104、ation and in the top ten jurisdictions in the world for attracting investment in mining.What makes Arizona an advanta-geous jurisdiction to explore and develop a mine?Arizona has a favorable economic,po-litical and regulatory climate.People know we are the copper state and gen-erally understand mini

105、ngs importance and the need for mined materials.Ari-zona ranks first in mineral potential in the US and has a policy perception ranking that is also favorable to min-ing.Our state agencies are good to work with and do pre-permitting work to efficiently issue key authorizations.What is minings econom

106、ic impact and contribution to the state?Arizona mining production was over US$10 billion and ranked 1st in the na-tion in 2021 and 2022.The hard rock mining sector is a US$14.2 billion in-dustry and,combined with the aggre-gate industry,is a combined US$20 billion impact on the states economy.Accord

107、ing to the US Bureau of Labor Statistics the mining industry output per worker is US$545,100,which ranks third behind the aerospace and semi-conductor industry.Mining employs approximately 27,000 people directly and supports another almost 75,000 jobs indirectly.The contributions to state tax revenu

108、es are also quite sub-stantial.What are the biggest challenges that miners in Arizona face today?University mining program enroll-ment has been down.College and high school students do not see min-ing as an agreeable career option.In-dustry and academia need to quickly adapt to attract the next gene

109、ration of talent.The good news for Arizona is the University of Arizona has a new min-Steve TrussellExecutive DirectorARIZONA MINING ASSOCIATION(AMA)nearly four decades,updating them yearly to align with state curriculum standards.How is Nevada poised to lead the energy transition in the US?Nevada b

110、oasts the only operational lithium mine in the US,and the Mc-Dermott Caldera presents a promising future for lithium discovery.Vanadium,recognized for its potential in energy storage,now has an opera-tional mine in central Nevada.Copper is a vital resource in which Nevada is the leading producer.Ong

111、oing explo-ration reveals other metals and miner-als crucial for emerging technologies.Can the US government do some-thing else to help secure its critical minerals supply chain?A crucial consideration lies in carefully managing land use on public lands.The federal government faces the challenge of

112、balancing various interests when withdrawing land for purposes such as solar production,military operation,or wilderness status.While such with-drawals serve specific objectives,they limit access to potential mineral re-sources,impacting future production.ing school.We are affirmed that we will see

113、significant changes at the uni-versity level.They are also engaged with the K-12 system through dem-onstrations,workshops,and engage-ment to recruit and attract future tal-ent.The challenge is rebranding the industry for young people.What are your main goals for your presidency?Even though we are a

114、high-ranking ju-risdiction in terms of friendliness to in-vestment and mining,it still takes 10 or 12 years to permit new mining opera-tions.We are looking at opportunities to get mines online expeditiously to meet increasing demand.This will in-clude permitting reform,bringing old-er mining sites b

115、ack into production and looking at mining waste,which can hold significant opportunity.Arizona Mining Associations goal is to keep the Arizona competitive.Ari-zona should continue to lead the na-tions as the number one producer of nonfuel minerals,but do it in a very responsible way in terms of envi

116、ron-mental health and safety.INTERVIEWINTERVIEW12 13 GBR SERIES|WESTERN USA MINING 2024GBR SERIES|WESTERN USA MINING 2024CaliforniaAccording to the Fraser Institute,California remains the least favorable jurisdiction in the United States.Primarily due to policy-related factors,Californias score saw

117、a sig-nificant decline of over 19 points,resulting in its current ranking of 46th out of 62.The survey,a benchmark for the industry,claims that respondents in California voiced apprehensions about the enforcement of existing regula-tions,as well as heightened concerns about regulatory du-plication a

118、nd inconsistencies.Securing permits poses a formidable challenge univer-sally.However,what sets California apart?Warren Coal-son,president of the environmental consulting firm En-viroMINE,shed some light on this disparity:unlike most states,California entrusts mining regulation to local agen-cies,in

119、troducing a distinctive regional variability.This de-centralization results in a proliferation of agencies,com-plicating the regulatory framework and contributing to a multifaceted process.Furthermore,the publics miscon-ception of mining,largely based on outdated stereotypes,further complicates the

120、matter.Californias B-52 bill man-dates Native American consultation for projects requiring discretionary approval.This adds another dimension,with Native American tribes potentially introducing challenges,such as requesting cultural significance reports,often with financial motivations,added Coalson

121、.Despite the unfavorable perception from the Fraser In-stitute,mining activities continue in California,a region boasting several ongoing or development projects poised to enhance the United States self-sufficiency.A prime ex-ample is the Mountain Pass mine situated on the south flank of the Clark M

122、ountain range,close to Las Vegas in Nevada.Operated by MP Materials,it stands as the sole operational REE mine and processing facility in the entire country.On the other hand,in the southern part of Cali-fornia,in the Mojave Desert in San Bernardino County,the Fort Cady project is emerging as the ne

123、xt significant bo-ron-lithium project in the US:We are fortunate to operate in San Bernardino County,a mining-friendly jurisdiction within a state historically challenging for new projects.Our project has a significant positive impact on an area marked by high unemployment rates and limited opportun

124、ities for younger citizens and graduates to secure well-paying jobs,commented J.T.Starzecki,chief marketing officer of 5E Advanced Materials.In the upcoming commercial Phase 1 production,5E Ad-vanced Materials expects to generate 90,000 short tons of boric acid and approximately 1,100 short tons of

125、lithium carbonate by the latter half of 2026.A pivotal aspect of their strategy lies in the method intended to extract boron and lithium.By embracing In-situ Recovery,5E Advanced Materials can reshape public understanding of contempo-rary mining practices and foster a more positive viewpoint of the

126、industry.California must enhance its perception against neighboring states in the Western United States to unlock its full potential.As the transition to clean energy swiftly advances,critical minerals have be-come a focal point in global discus-sions.For the US,as the leading econ-omy in the world,

127、ensuring a supply of these minerals is crucial not only to achieve its decarbonization goals but to reduce reliance on competitors such as China.The green metals are beginning to resemble oil in terms of their geopo-litical significance.Several countries,including the US,are taking protection-ism in

128、itiatives and policies to either nationalize,lower,or ban exports of these minerals.Chile,for instance,has attempted to acquire equity stakes in its lithium mines,and Namibia and Zimbabwe have imposed bans on raw lithium exports.The DRC has proposed export quotas for cobalt,and Indone-sia has prohib

129、ited raw nickel exports to encourage investment in nickel pro-cessing within the country.In terms of leadership,an asymmet-ric advantage exists for countries pos-sessing resources and those control-ling the supply chain,exemplified by China.Goldman Sachs Research indi-cates that China accounts for a

130、pproxi-mately 85 to 90%of the global rare earth elements(REEs)mine-to-metal refining.China also refines 68%of the worlds cobalt,65%of nickel,and 60%of lithium for EVs.Washington has acknowledged the US exposure to supply chain disrup-tions and vulnerabilities stemming from critical minerals,and thus

131、 the Biden Administration passed the Infla-tion Reduction Act(IRA)in August 2022 to strengthen the supply chain for met-als and incentivize production of EVs.Lawmakers also passed the Bipartisan Infrastructure Investment and Jobs Pushing for new policies,but permitting remains slowAct,which will fun

132、d a federal study of the use of abandoned mine lands and mine waste for critical mineral extrac-tion.The CHIPS&Science Act to fund microelectronic research and manu-facturing became the third legislative piece of a new industrial strategy.Both political parties acknowledge the critical need for more

133、 secure min-eral supply chains.The pandemic and events like the Russian invasion of Ukraine,ongoing issues in the Middle East,and Chinas global dominance in mineral supply chains have certainly heightened concerns and highlighted our vulnerability to unstable or hostile countries,commented Mark Comp

134、-ton,executive director of the Ameri-can Exploration&Mining Association(AEMA).However,are national policies enough?In the current era of globaliza-tion,to establish a fully integrated sup-ply chain to fulfill its mineral-related goals Washington needs friends.The US government has strategically col-

135、laborated with its closest allies through various means,including bilateral cooperative agreements with coun-tries such as Japan and Australia,a Memorandum of Understanding with Mongolia,and broader partnerships like the G7-backed Partnership for Global Infrastructure and Investment(PGII)to develop

136、clean energy supply chains.Additionally,initiatives like the Minerals Security Partnership focus on producing,processing,and recycling critical minerals.Compton continued:“Relying solely on allies for our needs is no longer a viable strategy.While com-plete mineral independence may be challenging,re

137、sponsibly utilizing our domestic resources whenever feasible is imperative”.Green Transition and the Role of the USImage by Mike Mareen at Adobe StockThe world is gradually shifting away from globalization.The US government has taken significant steps to secure the supply chain of critical minerals,

138、such as copper,which the Department of Energy recently designated as a critical material.Warwick Smith CEOAMERICAN PACIFIC MINING11 EarthWorks:Satellite-based subsurface soil moisture mappingImprove design and safety,anticipate slope failures,and protect assets BEFORE disaster strikes.The first comm

139、ercial technology of its kind,ASTERRAs EarthWorks solution allows mine operators to see where moisture is seeping from tailings dams and pipelines,collecting under mining roads and heavy equipment sites,and weakening surrounding hillsides.Using remote sensing techniques,EarthWorks requires zero inst

140、allation and causes no damage to the ground.Learn moreEDITORIALEDITORIAL14 15 GBR SERIES|WESTERN USA MINING 2024GBR SERIES|WESTERN USA MINING 2024If mineral nationalism is the solution,the US faces sub-stantial challenges,with one of the most critical being the permitting process.To stimulate domest

141、ic mineral produc-tion,the US needs to eliminate self-imposed obstacles and expedite numerous projects in the permitting stage,instead of resorting to a political discourse filled with empty words advocating for green economies while simultaneously im-posing control and regulations.Despite discussio

142、ns about permit reform,tangible actions have yet to materialize.This extended timeline increases the risk associated with proj-ects in the US,diverting foreign investments to countries like Canada and Australia or regions with questionable en-vironmental practices such as Congo or Indonesia,com-ment

143、ed Chris Summers,CEO of Burgex.While the entire mining value chain in the Western US has been advocating for a more streamlined permitting process,there is unanimous agreement that this should not entail lowering environmental standards.Mark Compton ques-tioned why,for instance,the FAST-41 designati

144、on granted for South 32s Hermosa project should not be applied to all mining projects,and he raised the point in the Senate:If we can expedite permitting for these projects without com-promising our high environmental standards,it logically fol-lows that we should apply such efficiency to all projec

145、ts.We should be expanding this permitting system of increased transparency and agency coordination,not limiting it.Copper,closer to being listed as criticalAccording to the USGS,for a mineral or commodity to be categorized as critical,it must meet specific criteria:It should be essential to the econ

146、omy and national security,produced from a supply chain vulnerable to disruption,and serve a crucial role in the manufacturing of products whose absence would have substantial consequences on domes-tic economy and security.Copper fulfills all three:It is the cornerstone of the green energy transition

147、,copper is the second most widely used material by the US Department of Defense,and US production is struggling to meet with demand.However,it is still not listed as a critical mineral.The decision of the US Department of Energy(DOE)to include copper for the first time in its critical material list,

148、published in July the 2023 Critical Materials Assess-ment,was therefore well received,but we must consider the difference between critical minerals and critical ma-terials.While the DOE defines the critical material list,it is the USGS that designates the critical minerals list,and many claim that t

149、he USGS copper evaluation is out of date.The Copper Development Association(CDA)slammed the USGS for“misleading”and denying a bipartisan request to add copper to its critical mineral list.Including copper could result in enhanced scrutiny from the USGS regarding marketing trends and reserves and cou

150、ld potentially lead to streamlined permitting processes,facilitating domestic production.“For us,the key would be the USGS adding copper to their critical minerals list.This would recognize the need for processing copper and finding and producing more to meet clean energy targets,”commented Graham R

151、ichardson,CFO of Faraday Copper.Not being currently listed as a critical mineral,copper does not qualify for the Inflation Reduction Act(IRA)tax credits.Same deposits,new tricksAccording to the Society for Mining,Metallurgy&Explora-tion(SME),the US needs 359 additional mines across all commodities t

152、o meet the needs of the clean energy transi-tion.However,there is a lack of everything:new mines,good deposits at the surface,and labor,the perfect combination for failure.In this context,technology can help.VerAI Dis-coveries is an AI-based mineral asset generator dedicated to sourcing critical min

153、erals essential for the energy transi-tion.The company owns 73 exploration projects for critical minerals in eight portfolios of different commodities:Three portfolios,each focusing on cobalt,nickel,and lithium in Ontario;a copper portfolio in Arizona,which is undergoing advanced review and commerci

154、al discussion with several majors;and a gold-silver portfolio in Nevada,where VerAI is seeking a partner;and two portfolios in South America(in Peru and Chile).The lack of success in project explora-tion and moving to production is disconcerting,according to Yair Frastai,co-founder and CEO of VerAI:

155、Roughly one in every 1,000 projects successfully transitions into a func-tioning mine,and existing exploration methodologies fall short in effectiveness,economic viability and scalability,he explained.According to Michael Rowley,president and CEO of Still-water Critical Minerals,all apparent deposit

156、s have already been identified in todays contexta problem exacerbated by drilling costs at unprecedented levels.The elixir?In-tegrating geophysics,AI,and machine learning becomes invaluable in uncovering previously concealed resources,he said.ASTERRA,an Israeli-American company,is also actively invo

157、lved in exploring critical minerals through its proprie-tary technology.The company focuses on employing Earth observation techniques,specifically through Synthetic Ap-erture Radar(SAR)wavelengths.While its initial focus was on providing Earthworks,a solution geared towards sup-porting risk and disa

158、ster prevention by analyzing under-ground soil moisture to monitor tailings behavior,ASTER-RA has recently developed a model for pinpointing mineral deposits with enhanced precision and speed.Instead of collecting multiple samples over several years,we have streamlined the process into a much shorte

159、r timeframe.This approach allows us to validate satellite findings,swift-ly resulting in significant advantages,commented Elly Perets,the companys CEO.ASTERRAs initial case study involved collaboration with ACME Lithium,focusing on its Fish Lake project in Nevada.Ivanhoe Electric,an exploration comp

160、any that owns the Santa Cruz copper project in Casa Grande,Arizona,the Tintic copper-gold project in Utah,and the Hog Heaven copper-gold-silver project in Montana,has developed the Typhoon data acquisition system.Typhoon excels in in-duced polarization and electromagnetic surveying,offer-ing the abi

161、lity to cover large areas at considerable depths and accelerating exploration by penetrating to depths over a km:For example,at our Tintic project in Utah,we con-ducted a 70-square-kilometer survey at depths of up to 1.5 km in under 45 days,showcasing Typhoons speed and ef-ficiency,commented Taylor

162、Melvin,president and CEO of the company.We have a generational opportunity to strengthen our domestic mining industry and ensure that Made in America means Mined in America.What has been AEMAs focus over the last few months?Over the past 15 months,the Biden administration initiated the Depart-ment o

163、f the Interior-led Interagency Working Group on Mining Regula-tions,Laws and Permitting(IWG)to study ways to enhance domestic mineral supply chains.In September 2023,this group finally released a report containing dozens of recom-mendations.We engaged closely and in good faith with the Biden adminis

164、-tration throughout this process.We viewed the IWG process and devel-opment of their report as an oppor-tunity to identify ways to eliminate current barriers to discovering and developing minerals on public lands.While the goal of the working group was ostensibly to promote domes-tic mining producti

165、on,unfortunately several recommendations will only hinder mining.That is disappointing,but we are committed to working constructively with the administra-tion and Congress to ensure that our members and the broader industry can successfully develop the minerals essential to our society.What are some

166、 key developments or reforms introduced by the Fiscal Responsibility Act?The Fiscal Responsibility Act included some essential permitting reforms,such as enabling project proponents to prepare environmental review doc-uments,acknowledging their interest in a timely and accurate product.The Act also

167、introduced time limits for NEPA documents,although the prac-tical enforcement of those limits re-mains to be seen.Much work remains,and tackling the litigation phase of the permitting process is imperative if we are going to accomplish meaningful permitting reform.Should the industry work on deliv-e

168、ring a clearer message about the value of mining to society?One of our primary roles as an as-sociation is educating the public and policymakers about the modern min-ing sector.There is a prevailing not in my backyard sentiment in this coun-try,partly stemming from misconcep-tions about what modern

169、mining truly entails.The reality today is quite dif-ferent from years ago.Current mining is highly regulated and technologically advanced,adhering to the worlds strictest environmental and safety standards.Mining companies are deeply committed to their surround-ing communities and collaborate with s

170、takeholders to design,develop,and responsibly close mining projects.We must work to educate the public about todays industry and help them understand the beneficial impact min-ing has on their daily lives.Americans and the environment lose when we offshore our mineral requirements.Why cant the US ex

171、pedite the per-mitting process for all projects as it did with South32s Hermosa project?I made that very point at a recent Sen-ate committee hearing focused on countering Chinas dominance in min-eral supply chains.The FAST-41 pro-cess that the Hermosa project is now undergoing was initially designed

172、 for large infrastructure projects,such as roads and transmission lines,and now includes mining projects.If we can expedite permitting for these proj-ects without compromising our high environmental standards,it logically follows that we should apply such ef-ficiency to all projects.Unfortunately,th

173、e Federal Permitting Improvement Steering Council recently proposed limiting participation to mining proj-ects that involve only critical minerals,unnecessarily hindering our goal of bolstering domestic mining.How have recent geopolitical events heightened concerns about secure mineral supply chains

174、 in the US?Both political parties acknowledge the critical need for more secure min-eral supply chains.The pandemic and events like the Russian invasion of Ukraine,ongoing issues in the Middle East,and Chinas global dominance in mineral supply chains have certainly heightened concerns.Chinas investm

175、ent in the mineral supply chain worldwide,including processing,has created a situation where nations will increasingly com-pete for limited resources due to the surging demand for minerals.Relying solely on allies for our needs is no lon-ger a viable strategy.What should we expect from the AEMA in t

176、he next 12 months?The genuine bipartisan interest in permitting reform is encouraging,so we are working hard to enact further permitting reforms as soon as pos-sible.We also anticipate the Biden ad-ministration will put forth numerous rulemaking,policy and guidance pro-posals to implement the Intera

177、gency Working Groups recommendations,and we will be heavily engaged in those processes.With skyrocketing global mineral demand,there is more attention on mining issues than ever before.I be-lieve we have a generational opportu-nity to strengthen our domestic min-ing industry and ensure that Made in

178、America means Mined in America.Mark ComptonExecutive DirectorAMERICAN EXPLORATION&MINING ASSOCIATION(AEMA)INTERVIEW17 GBR SERIES|WESTERN USA MINING 2024EDITORIAL16 GBR SERIES|WESTERN USA MINING 2024VerAI Discoveries is an AI-based mineral asset generator dedicated to sourcing critical minerals by cr

179、acking the code of concealed mineral deposits in the geophysical data space.Can you introduce us to ASTERRA and the technology that you use?ASTERRA has been operating since 2016 with a core mission of assisting society in gaining a deeper under-standing of the earth,particularly from a ground engine

180、ering perspec-tive,utilizing Earth Observation tech-niques,specifically through Synthetic Aperture Radar(SAR)wavelengths.In ASTERRA,we employ the L band wavelength,which spans from 20 to 30 cm,making it relatively long com-pared to other wavelengths.The L band wavelength actively interacts with the

181、ground and penetrates it,providing information about surface and subsurface conditions by being sensitive to electromagnetic objects.85%of failures start with issues relat-ed to drainage,water,moisture,and other water-related problems.Thus,this technology can identify potential leaks in water distri

182、bution networks,which typically stem from aging in-frastructure.This led to the develop-ment of a model that could provide water utilities with data regarding the location of leaks,helping them tackle operational challenges like in the min-ing industry,where attention is direct-ed toward monitoring

183、tailings storage facilities.What is EarthWorks,and what does it prevent?When it comes to tailings facilities,it is not uncommon to observe that some tailings extend beyond the boundar-ies of the dam owners property.This situation presents a significant risk,especially from a liability perspective.Ea

184、rthWorks is a solution designed to support risk and disaster prevention by analyzing underground soil mois-ture.We can assess these risks by re-motely measuring soil moisture data on dams from space.This informa-tion is crucial for understanding how pressure and moisture contribute to the movement o

185、f tailings through the dam and soil from one side to the other,providing an early indication of potential risks.What other solutions do you have for the mining industry?We have developed a model to en-hance the efficiency of the exploration process by locating mineral deposits with greater precision

186、 and speed.We initially tested this technology in the lithium sector in the US market.In-stead of collecting multiple samples over several years,we have stream-lined the process into a much shorter timeframe,eliminating the need for many samples.This approach allows us to validate satellite findings

187、,swiftly resulting in significant advantages.For instance,it helps reduce carbon emissions,expedites the claim pro-cess for vast areas,and prevents the unintended use of land for alternative purposes.This approach is especially beneficial in regions such as Nevada and Utah,where we want to minimize

188、the use of heavy machinery,reduce travel,and optimize mining equip-ment use during exploration.We aim to expand this technology to commodities like precious metals and copper.What are the benefits of Earth Ob-servation techniques compared to ground monitoring techniques?Ground monitoring techniques

189、are often highly localized,offering limited scope.Visual inspections or sensor data can provide information only about the specific area where they are applied,potentially missing sig-nificant events occurring just a few centimeters away.In contrast,Earth Observation provides a much broader perspect

190、ive,enabling the monitoring of larger regions.One example is InSAR(Interferomet-ric Synthetic Aperture Radar),which employs X-band wavelengths to cap-ture multiple images over time for ground deformation monitoring.While this method yields valuable insights,it can become costlier and riskier when mu

191、ltiple images are required,as the earth is constantly in motion.ASTER-RAs technology,on the other hand,is built on pulsar polarization and stands out because,unlike other methods that require 10 to 15 flyovers,taking several months,our approach relies on just a single flyover.This method reduces cos

192、ts and detects phenomena before they escalate into significant is-sues,aligning with a proactive and ef-ficient strategy for prevention.What would you like to have achieved over the next 12 months?With EarthWorks,we are exploring diverse markets and applications on a global scale,such as engaging wi

193、th the worlds major mining companies in Chile,Argentina,the USA,Canada,and Australia.However,penetrating these markets is not straightforward due to their highly fragmented na-ture,with each operation often func-tioning as an independent entity and employing its methods for measuring and managing ri

194、sks.Moreover,min-ing tends to be somewhat traditional,characterized by the lengthy process of adopting new technologies.These factors have prompted us to consider the insurance market as a potential driver for solutions,as our technology can play a pivotal role in enhancing risk management.Elly Pere

195、tsCEOASTERRACould you introduce us to VerAI Dis-coveries and its business model?VerAI Discoveries is an AI-based min-eral asset generator dedicated to sourcing critical minerals for the green energy transition by cracking the code of concealed mineral deposits in the geophysical data space.Our prima

196、ry focus lies in targeting covered areas in mature mining jurisdictions,which remain largely unexplored.We firmly believe these untapped terrains are the key to the next major mineral discoveries,and our thesis suggests that the potential findings will extend beyond individual deposits,leading to ne

197、w clusters of mineral resources.Our core business model revolves around the potential upside of min-eral discoveries rather than providing services or selling technology.Our ap-proach involves staking claims on the land,owning the assets to 100%,and subsequently seeking a suitable part-ner to collab

198、orate with.What is VeriAIs current portfolio and mineral diversity?We currently own 73 exploration proj-ects for critical minerals,with a total of 217,000 acres in five mining juris-dictions.Our projects are divided into eight portfolios of different commodi-ties.In Ontario,we have three port-folios

199、,each focusing on cobalt,nickel and lithium.Additionally,we have a copper portfolio in Arizona,specifi-cally in the southern region of Tucson,which is currently undergoing ad-vanced review and commercial discus-sions with several majors.Moreover,we possess a substantial gold-silver portfolio in Neva

200、da and are actively seeking potential partners to collabo-rate with us on this opportunity.On the other hand,we are operating in South America,with ongoing projects in Peru,while in Chile we have two portfolios comprising secured assets that are ready for partnership.How certain is the use of AI for

201、 ex-ploration?Using AI and machine learning brings a distinct advantage by offering an objective and measurable approach to mining exploration.Unlike subjec-tive hypotheses put forth by human experts,the data-driven nature of this technology allows for continu-ous improvement through an itera-tive p

202、rocess of feeding more data into the model as part of a feedback loop testing process.This technology is achieving a success rate of two orders of magnitude better than the indus-try,which is facing an alarmingly low success rate:Roughly 1 in every 1,000 projects successfully transitions into a func

203、tioning mine,and existing ex-ploration methodologies fall short in effectiveness,economic viability,and scalability.When we applied our techniques to trace porphyry copper-molybde-num deposits(PCDs)in Arizona,we achieved a success rate of approxi-mately 1 in 7,a solid foundation for building a succe

204、ssful business model around this approach.Should the government provide en-hanced support and resources to mining start-ups to foster the suc-cess of new mines?Securing the domestic supply chain for critical minerals has become a na-tional interest for the US,where the government is working closely

205、with Canada,Australia and Chile to achieve its long-term goals.These can only be achieved through making new discov-eries and developing mining opera-tions.Investors have acknowledged this shift,and there has been a nota-ble change in how people perceive the challenge and the desired solutions.Howev

206、er,the support in the US has primarily focused on downstream ac-tivities by establishing battery plants,with limited emphasis on sourcing the production materials.To fully realize the potential of the energy transi-tion,the government must provide substantial support for the upstream sector,includin

207、g the licensing process for new mines and supporting explo-ration efforts.How does VerAI contribute to a bet-ter ESG performance?Our remote-based technology en-ables us to engage with the communi-ties and other stakeholders in a com-pletely different manner,emphasizing the importance of ethical and

208、respon-sible conduct during the exploration phase.A key aspect of our approach is targeting without the need of land acquisition,which grants us greater control over potential considerations and risks in specific areas.By adopt-ing this strategy,we minimize our footprint and proactively engage with

209、stakeholders,creating favorable con-ditions for their involvement from the earliest stage of the process.This is a great opportunity to invite the First Nations communities,inves-tors,and exploration teams to engage with us to generate value from high-performing and responsible AI target-ing process

210、es of critical minerals in mining jurisdictions with challenging vast cover terrain.Yair FrastaiCEO and Co-FounderVERAI DISCOVERIESWe have developed a model to enhance the efficiency of the exploration process by locating mineral deposits with greater precision and speed.INTERVIEWINTERVIEW18 19 GBR

211、SERIES|WESTERN USA MINING 2024GBR SERIES|WESTERN USA MINING 2024What is the history and mission of the School of Min-ing and Mineral Resources?The University of Arizona has a long-standing history of supporting the mining industry,dating back to 1885,when it introduced its first mining program.Howev

212、er,in 2021,the university leadership recognized that a more transdisciplinary approach to mining and minerals edu-cation was necessary;thus,the School of Mining and Min-eral Resources was conceived.Today,the mining industry faces various challenges related to environmental protection,social acceptan

213、ce,and the exploration of deeper and less concentrated deposits,demanding a comprehensive multidisciplinary approach.To address these challenges,the School of Mining and Minerals brings together existing mining and geological engineering departments,economic geology,public health,and social and envi

214、ronmental science dis-ciplines to facilitate education and research to tackle the industrys current and future obstacles.What type of programs does the School offer?We support the existing faculty and traditional majors re-lated to mining.Additionally,we offer a minor in Sustain-able Mineral Resourc

215、es,allowing students to understand the mining industry comprehensively.We also provide professional development courses through the Lowell In-stitute and the Geotechnical Center of Excellence.These courses are designed to keep industry professionals abreast of the latest technologies and emerging is

216、sues.Furthermore,the Global Mining Law Program serves indi-viduals with science or engineering degrees seeking spe-cialized mining legal training.During the fall of 2023,the University will offer a course focused on automation and artificial intelligence in mining.To enhance the student experience,w

217、e partner with the Universitys San Xavier Experimental Mining Labora-tory,where students can train with mining equipment and develop hands-on experience in a real-world envi-ronment.What are some of the R&D projects the School is cur-rently developing?We have researched mine workers internal body te

218、mpera-tures using a swallowable sensor for monitoring heat stress in underground work environments.Another project uses AI to detect whether workers are wearing personal protec-tive equipment.Automation is also a key focus,with proj-ects using specialized cameras to predict slope stability and detec

219、t minerals using hyperspectral technology.Addition-ally,we are actively investigating existing copper porphyry deposits for valuable rare earth elements and assessing the potential for reprocessing and recycling tailings piles.With the Center for Environmentally Sustainable Mining,we are pioneering

220、eco-friendly chemical compounds for dust suppression at tailings piles,with potential applica-tion in mineral extraction from acid mine drainage.Fur-thermore,researchers are converting mine tailings into concrete that sequesters CO2.How is the School attracting the next generation?Transforming young

221、 peoples narrow view of mining,often seen as a dirty profession,is crucial.Instead,we want to showcase the industrys advanced technological aspects.Part of our initiative involves clarifying the lucrative pros-pects of mining,with salaries starting around US$80,000 in Arizona.Additionally,we strive

222、to highlight that mining is not an enemy of the environment but rather a catalyst for environmental preservation.Misael CabreraDirectorSCHOOL OF MINING AND MINERAL RESOURCES,UNIVERSITY OF ARIZONABased on the information provided by Walter Copan,VP of research and technology transfer at Colorado Scho

223、ol of Mines,more than half the current domestic mining work-force will be retired and replaced by 2029(221,000 work-ers).A study published by Deloitte earlier in 2023 supports these statements,according to which nearly 50%of skilled engineers are reaching retirement age in the next decade.Figures fr

224、om the US Bureau of Labor Statistics show that US mining employment has experienced a long-term decline from 2008 until early 2020.However,since then,it has been gradually increasing.One can only wonder why working in the industry is not popular when the median annual wage for mining and geo-logical

225、 engineers was US$97,590 in May 2022,nearly double the national average.Among the Western US states,Califor-nia is the only one that comes close to matching the mining industrys average salary,with an annual average wage of US$73,222.If not the salary,then working conditions may be a contrib-uting f

226、actor.Mining occurs in remote areas with limited ame-nities,which may not appeal to younger generations.Addi-tionally,the pandemic has shifted peoples attitudes toward work-life balance,with a preference for work from home in many cases.A survey published by McKinsey&Company targeting individuals ag

227、ed between 15 and 30 revealed that 42%of respondents do not find the mining industry attrac-tive and would“definitely not work”in mining.This places mining at the bottom of the rankings,with other sectors like oil and gas,high tech,and healthcare being more appealing to this age group.Another issue

228、the mining industry must tackle is the gender imbalance.According to the latest data from the IEA,updated in November 2022,women represent only 15%of the labor force in the US mining industry.The industry requires a makeover.Technology is set to lead this transformation.Mining companies can leverage

229、 techno-logical disruptions,such as automation and AI,to make the sector more attractive and have access to a broader talent pool:“In industries such as construction and mining,a sig-nificant labor shortage has made it difficult to find skilled workers to operate machines.By blending machine learnin

230、g with the skills of human operators,we can take advantage of where autonomous technology is today while increasing productivity and addressing labor shortages,”commented Attracting new talentVinay Shet,CEO and co-founder of Teleo,which specializes in automizing mining and construction equipment.Uni

231、versities:A hotbed of new miners Besides decreasing mining employment,enrollment in min-ing-related fields at universities has also been falling recent-ly.According to Steve Trussell,executive director of the Ari-zona Mining Association,college and high school students do not consider mining a caree

232、r option because they do not know enough about it.One crucial aspect is transforming young peoples narrow perspective of mining,who often perceive it as a dirty profession.Instead,we want to show-case the industrys advanced technological aspects,stated Misael Cabrera,director of the University of Ar

233、izonas School of Mining and Mineral Resources.According to Data USA,a comprehensive website and data visualization platform for public US Government data pow-ered by Deloitte and Datawheel,the institutions that award-ed the most degrees in mining&mineral engineering are the Missouri University of Sc

234、ience and Technology,the Univer-sity of Arizona,and the Colorado School of Mines.The latest figures indicate that the total number of degrees awarded in 2021 was 314,representing a decline of 41.09%compared to the peak of 533 degrees awarded in 2016.The shortage of mining engineers in the US demands

235、 immediate attention.While the US needs 500 to 1,000 mining engineers annually,we only graduate around 200,stated Cabrera.This decline is accompanied by decreased availability of mining and mineral engineering programs at US colleges and universities.According to a report from the Society for Mining

236、,Metallurgy&Exploration(SMNE),in 1982 there were 25 mining and mineral engineering programs at US colleges and universities;this number had declined to 14 by 2014 and has remained unchanged since.The University of Arizona School of Mining and Mineral Resources has a long-standing history supporting

237、the indus-try,dating back to 1885.Today,the School of Mining and Mineral Resources combines existing mining and geological engineering departments,economic geology,public health,and social and environmental science disciplines to facilitate education and research.The US Government has already taken

238、actions to boost geological and mining education.According to Cabrera,the Mining School Act proposes to allocate US$10 million to sup-port and strengthen mining schools,a breath of oxygen to enhance mining education.Labor ShortageImage courtesy of University of Arizona,School of Mining and Mineral R

239、esourcesINTERVIEW21 GBR SERIES|WESTERN USA MINING 2024EDITORIAL20 GBR SERIES|WESTERN USA MINING 2024Keaton TurnerFounder and CEOTURNER MININGMining holds a crucial place in shaping Americas future.With abundant reserves of minerals and metals,America has the power to create countless jobs,drive econ

240、omic growth,and ensure a sustainable future.GBR Series WESTERN USA MINING 2024Image by Kent at Adobe StockProduction,Development and ExplorationPrecious metals production results in the US present opposite trends,with gold production declining while silver production rose.In 2022,do-mestic gold prod

241、uction was estimated to be 170 t,9%less than in 2021,a trend that goes back to 2018,when US gold production peaked at 245 t/y.The opposite happened with silver.In 2022,the US produced 1,100 t,slightly above the 2017 production of 1,020 t.Nevertheless,thanks to robust gold prices,producers in the Wes

242、tern US have experienced a positive year.Not only does it seem that the gold price is in their favor,but global geopoliti-cal turmoil has prompted investors to seek safe havens.Like gold,mining jurisdictions like the Western US are considered as safe havens when it comes to investments.Nevada,the le

243、ading gold-producing state in the US,is home to Nevada Gold Mines(NGM),the worlds largest gold-producing complex.NGM,a Joint Venture between Barrick(65.1%)and Newmont(38.5%),yields an annual gold production of approximately 3 million oz,encompassing 10 under-ground and 12 open-pit mines.Addi-tionall

244、y,NGMs infrastructure includes two roasting facilities,two autoclave facilities,four oxide mills,and five heap leach facilities.According to Peter Richardson,ex-ecutive managing director of NGM,the first half of 2023 experienced a temporary dip in production due to planned processing restrictions,wi

245、th expectations for a stronger second half.The decline in NGMs production was anticipated as they implemented planned outages at the Carlin process-ing facilities,including the roasters and autoclave.At the same time,mainte-Nevada and Alaska are the precious metals bastionsnance activities took plac

246、e at the Gold-strike and Gold Quarry roaster and,in the first operation,NGM completed the conversion of the Goldstrike au-toclave processing facility to conven-tional carbon-in-leach.Additionally,it completed the first phase of the Gold Quarry roaster to increase throughput by 15%to 20%,with improve

247、ments in the grinding and roaster circuits.NGM is investing not only in infra-structure but also in its fleet to im-prove efficiency and safety.In our underground operations,we utilize remote mucking,where operators control loaders from the surface using joysticks and cameras.This method proves to b

248、e efficient,safe and highly productive.The absence of operators on the equipment allows us to extend operating hours,even during activities like blasts and shift changes,com-mented Richardson.Komatsu is set to supply Nevada Gold Mines(NGM)with 62 Komatsu 930E-5 haul trucks between 2023 and 2025:40 t

249、rucks assigned to the Carlin Complex and the remaining 22 desig-nated for use at the Cortez mine.As per S&P Global data,majors and gold producers have taken the fore-front in driving drilling activities within the gold segment.In alignment with this trend,the JV between Barrick and Newmont is active

250、ly pursuing growth opportunities by drilling near exist-ing targets and extending exploration efforts further.Noteworthy proj-ects include the 100%Barrick-owned Fourmile project adjacent to Cortezs Goldrush,which is considered the best-underdeveloped asset in its class.Additional focus areas include

251、 drilling around Robertson to uncover potential mergers of small pits and expansion to the West at Distal.Turquoise Ridge is a key site for drilling to expand the Cricket Corridor and close gaps in the south zone(BBT Corridor).The Greater Leeville area is also a prior-ity,with active drilling in tar

252、gets such as Little Boulder Basin,Western Spur,and North Leeville,”continued Richardson.For Tim Swendsaid,Elevation Gold Minings CEO,the“re-shoring”sentiment among investors is significant.Like many others,he believes investors are increasingly favor-ing large mining companies.This sentiment will ev

253、entually extend to junior companies as the disconnect between in-trinsic values and current market capitalization becomes more apparent:I believe there has never been a better time to invest in American producing gold assets.We are experiencing the most turbulent geopolitical situation in a generati

254、on,he said.The company produced 31,094 oz/y of gold at its Moss mine in Arizona:An improvement over the 29,107 ounces produced in 2021,stated Swendseid.“Because of our ef-ficiency improvements and mine plan optimizations this year,we expect to produce between 34,000 and 36,000 oz/y of gold,he added.

255、Elevation has spent around US$9.5 million to construct a new 3A-Ph2 leach pad,finalized on November 2023,which will provide the company with sufficient leach pad capacity until the end of 2025.On the other side,Elevation Gold has been focusing ex-ploration on the Reynolds Pit and the Mordor area adj

256、acent to the Moss mine.Both targets,situated on the fully permit-ted ground,would enable Elevation to commence mining operations promptly,a relevant fact considering how chal-lenging the permitting landscape can be.Another company that plans to invest in infrastructure is Idaho Strategic Resources,w

257、hich operates the Golden Chest gold mine in the Murray Gold belt area of the Coeur dAlene mining district in Idaho.The company shifted to underground operations at the beginning of 2023,produc-ing 5,000 to 10,000 oz/y.Our focus lies in building a new mill at our mine,which would not only open up exp

258、loration opportunities but also give us control over the entire gold district and would be highly beneficial to our bottom line,We are closely watching early projects and are intrigued by Hercules,hitting 0.84%copper over 185.29 meters in Idaho.As a major US miner,we are keen on investing early in p

259、romising opportunities for substantial value creation,leveraging our extensive exploration budget in mining-friendly states.Mark BristowPresident and CEO BARRICK GOLDPrecious Metals Production and Developmentleading to cost saving,increased revenue,and higher pro-duction capacity,explained John Swal

260、low,president,and CEO of the company.Despite being a gold producer,Idaho Strategic Resources has an RRE story coming to light with three projects span-ning the southern to the northern regions of the underrec-ognized Idaho Rare Earth Element-Thorium trend:On the REE side,our upcoming work includes t

261、renching,which is set to commence in July 2023.We have also obtained per-mits for drill plans,with drilling expected to occur later in 2023.These activities form a crucial part of our exploration efforts to understand further and assess the potential of our REE projects,added Travis Swallow,stakehol

262、der and corporate development of the company.Gold development:The opportunity in the market Alaska,the second gold producing US state,has seen plenty of activity in terms of gold,not only in production but also in the market.Contango Ore is a US-listed company developing and constructing the Manh Ch

263、oh project in Alaska through the Peak Gold Joint Venture,an association with Kinross.Contango is 30%owner,with Kinross managing and own-ing the remaining 70%.The Manh Choh project boasts a 1 million oz gold deposit with grade ore averaging 8 g/t.To process Manh Chohs ore,the company will leverage Ki

264、nross underutilized mill at the Fort Know mine in Fairbanks.Ac-cording to Rick Van Nieuwenhuyse,president and CEO of Contango Ore:“Our decision not to build another mill and Image courtesy of Elevation Gold MiningInvestors are increasingly supporting large mining companies,and we believe this positi

265、ve sentiment will filter down to junior companies once the recognition of the disconnect between intrinsic values and current market capitalizations becomes clear.Tim J.SwendseidCEOELEVATION GOLD MININGEDITORIALEDITORIAL24 25 GBR SERIES|WESTERN USA MINING 2024GBR SERIES|WESTERN USA MINING 2024The le

266、ssons learned at Turquoise Ridge,mainly about the critical importance of teamwork and planned maintenance,are now being rolled out at the other Nevada mines.How would you assess Barricks performance in 2023?As we disclosed at the time of our Q3 results,we expect our annual gold production to be marg

267、inally below the 4.2 to 4.6 million oz guidance range we announced at the start of 2023.This is primarily due to the de-lay in receiving the“Record of Deci-sion”from the United States Bureau of Land Management in relation to the permitting of the Goldrush Proj-ect,changes in the Crossroads open pit

268、model and some process inter-ruptions to address long term main-tenance requirements(all in Nevada).Turquoise Ridge had a stronger per-formance relative to 2022,thanks to a successful turnaround exercise by its new management team and the commissioning of its third shaft.The lessons learned at Turqu

269、oise Ridge,mainly about the critical importance of teamwork and planned mainte-nance,are now being rolled out at the other Nevada mines.The“Record of Decision”at Gold-rush was eventually received in late December 2023 and we are expecting to complete the ramp up at Pueblo Viejo by the end of Q1 2024

270、 meaning these issues are largely behind us.In the LATAM region,equipment issues hindered the ramp-up of our expansion project at our Pueblo Viejo gold mine in the Dominican Republic.In Africa,we have had another steady performance with produc-tion at the 1.5 million oz/y mark,consistent with prior

271、years and with all mines in the region expected to deliver on their guidance for the 2023 year.As previously communicated,our 2023 copper production is expected to be within guidance,albeit at the low end of the 420 to 470 million lb/y range.Can you discuss the importance of copper in Barricks futur

272、e strat-egy?We plan to double our copper pro-duction by the end of the decade and continue to increase it to an esti-mated 1 billion lb/y by 2031.This will assist Barrick in delivering on its mis-sion to build and operate world-class assets but at the same time continue to diversify our earnings as

273、well as add to the global drive for a more sustainable,green economy.We be-lieve that there remains significant upside potential in the gold industry and the copper operations are strate-gic and additive to that.Reko Diq in Pakistan is positioned to rank as one the worlds Top 10 cop-per mines when i

274、t reaches full pro-duction,and the pre-feasibility study on the Lumwana Super Pit Expansion is projected to deliver a potential of 240,000 t/y over a 36-year life of mine,from a plant expansion that will increase our processing capacity to 50 million t/y.The accelerated Lumwana work program is sched

275、uled to deliver a full feasibility study by the end of 2024,and following construction we are expecting production from the Su-per Pit to start in 2028.The Reko Diq project also remains on track to de-liver an updated feasibility study by the end of 2024.What factors could lead to a boost in gold pr

276、oduction in Nevada?Nevada Gold Mines has quality as-sets and enormous potential,making it the value foundation on which we intend to grow the business,but it is impacted by processing constraints which need to be overcome by boost-ing operational flexibility.We see multiple opportunities at each of

277、Carlin,Cortez and Turquoise Ridge to strengthen the life of mine with near-mine growth using the cur-rent infrastructure in the midterm(Leeville,Ren),new projects that can extend the use of the processing fa-cilities(Robertson),and a long-term portfolio targeting significant brown-fields and greenfi

278、elds(Fourmile,Turquoise Ridge underground)to sustain current production past our 15-year plan.We are planning to achieve this by increasing processing and mining run times,stepping up development at all the underground mines,improv-ing and standardizing maintenance management,identifying and imple-m

279、enting efficiency initiatives,and tightening control of compliance with mine plans.Mark BristowPresident and CEO BARRICK GOLDtailings facility has significantly expedited the projects prog-ress,reduced capital requirements,and shortened the per-mitting timeline.”The company announced on August 30,20

280、23,that mining operations started at Manh Choh.Despite the perception of unfavorable market conditions in the precious metal segment,Hycroft Mining is a Nevada-based company with a solid financial status with US$117 million in cash.According to Diane Garret,president and CEO:“With a robust treasury

281、and the ability to raise addi-tional capital,we are actively exploring potential M&A to expand our portfolio.”Hycroft has been actively drilling its Hycroft mine to determine higher-grade intercepts and bet-ter define the starter pit of its ultimate mine plan.Hycroft is a past producing mine and is

282、transitioning from heap leach operations to milling operations to process the sulfides:“We have a large amount of infrastructure already in place,from crushers to a refinery and on-site laboratory,which puts us well ahead of any other development company in that re-gard.We will need to install mills

283、 and autoclave for process-ing the sulfide ore,”explained Garret.Much like Hycroft,but in Idaho,Revival Gold has recently updated a resource estimate and completed a PFS for the first stage of restarting operations at its Beartrack-Arnett gold project.The company is pursuing a two-phase strat-egy,co

284、mmencing with heap leach production and explor-ing the possibility of transitioning to a milling scenario for sulfides:“Resulting in an increased resource of 4.6 million oz and a strong 25%after-tax internal rate of return(IRR)on a modest US$109 million Capex for the first phase of devel-opment,it i

285、s important to note that this project represents the largest past-producing gold mine in Idaho,with existing infrastructure that saves us considerable time and money,”commented Hugh Agro,president and CEO of Revival Gold.Amidst market challenges where new investment is not flowing,companies find sub

286、stantial support in understand-ing shareholders.That is the case of i-80 Gold,which,ac-cording to Ewan Downie,CEO of the company,has received strong support from Orion Mine Finance.i-80 has been able to navigate current market conditions while moving forward with three different projects in Ne-vada:

287、Granite Creek,the most advanced,where it recently completed mining on the first four levels and started ship-ping to Nevada Gold Mines for processing;McCoy-Cove project,where it established underground access for depth drilling;and Ruby Hill,the most drilling-active project,were it plans to develop

288、both gold and base metal deposits.Be-sides the support of Orion Mine Finance,the company has extended its prepay facility,allowing it to sell gold forward instead of issuing shares:“We will continue to explore this approach with our assets and may even consider pre-sales on silver or base metals.We

289、plan to utilize what I refer to as mezzanine financing methods to continue growing our busi-ness.Given that we expect to produce multiple metals,in-cluding gold,silver,lead,zinc and copper,we could consider streaming or royalty initiatives,”explained Downie.32INTERVIEW27 GBR SERIES|WESTERN USA MININ

290、G 2024EDITORIAL26 GBR SERIES|WESTERN USA MINING 2024Can you provide an overview of Ne-vada Gold Mines(NGM)key achieve-ments in 2023?In the first half of 2023,we success-fully executed planned outages at our Carlin processing facilities,including the roasters and autoclave.We also completed the conve

291、rsion of the Gold-strike autoclave processing facility back to conventional carbon-in-leach in January and February,with produc-tion starting in March.The first half of 2023 was lower in production due to planned processing restrictions,but we anticipate a stronger second half.Other significant mile

292、stones in-clude ongoing expansion projects at the Gold Quarry roaster to in-crease throughput by 15%to 20%,with improvements in the grinding and roaster circuits.Our safety cam-paign Journey to Zero has been re-launched across Barrick,contributing to our second-ever injury-free month in April.We hav

293、e made strides in pro-active maintenance,particularly at the Turquoise Ridge Sage Autoclave,with plans to implement learnings at Tur-quoise Ridge UG mine and Goldstrike Autoclave.Despite challenging winter conditions in Q1,we have focused on rebounding through enhanced under-ground delivery at Carli

294、n,Cortez,and Turquoise Ridge,and emphasizing sta-bility in our process plants.Addition-ally,we have initiated the delivery of a new truck fleet,with nine trucks in op-eration by the end of Q3 and a total of 62 Komatsu 930E-5 haul trucks to be delivered between 2023 and 2025 for Cortez and Carlin.Ove

295、rall,we are see-ing positive trends in safety and per-formance across Nevada Gold Mines.Can you provide an overview of NGMs exploration strategy and plans for the current year?Our exploration efforts involve drill-ing near existing targets and extend-ing further out.Noteworthy projects include the 1

296、00%Barrick-owned Four-mile project adjacent to Cortezs Gold-rush,which is considered the best-underdeveloped asset in its class.Additional focus areas include drilling around Robertson to uncover poten-tial mergers of small pits and expan-sion to the West at Distal.Turquoise Ridge is a key site for

297、drilling to expand the Cricket Corridor and close gaps in the south zone(BBT Corridor).The Greater Leeville area is also a prior-ity,with active drilling in targets such as Little Boulder Basin,Western Spur,and North Leeville.How does Nevada Gold Mines ap-proach ESG factors and sustain-ability?Our a

298、pproach involves the develop-ment of the NGM owned TS solar plant,a 200 MW solar facility,with 150 MW already installed.Additionally,we are transitioning our light vehicle fleet to electric vehicles,having deployed over 50 and planning to add 50 more in 2024.We are also building charging stations to

299、 support this transition.In terms of community engagement,we have invested in Nevada Gold Mines Early Learning Centers,allocating over US$4.5 million to establish high-quality,affordable childcare facilities.Furthermore,we are committed to the NGM Recreation Center in Elko,includ-ing a new state-of-

300、the-art swim arena and recreational facilities.Can you discuss Nevada Gold Mines approach to utilizing new technolo-gies?Our initiatives have included testing autonomous trucks and underground battery-driven equipment.Currently,we have several open-pit drills at Car-lin operating autonomously,with t

301、he capability of remote control.In our underground operations,we utilize remote mucking,where operators control loaders from the surface using joysticks and cameras.This method proves to be efficient,safe,and highly productive.The absence of operators on the equipment allows us to extend operating h

302、ours,even during activities like blasts and shift changes.We have invested in a new truck fleet designed to be autonomous-ready.While we are in the early stages,we are actively exploring opportunities to test and integrate autonomous trucks.In our processing facilities,we are working to enhance cont

303、rol systems,improving reliability,productivity,and stability.What are Nevada Gold Mines goals for 2024?We emphasize four pillars:license to operate including safety,environmen-tal performance,GHG reduction,and community engagement.Another pil-lar focuses on people and culture,in-volving employee dev

304、elopment and fostering our desired culture with the Barrick DNA at the core.Operational excellence is crucial,encompassing target delivery,cost management,and technological development,par-ticularly in autonomous and remote operations.The final aspect is growth,which involves ensuring a solid 1015-y

305、ear plan through proactive explora-tion drilling,studies,and facility ex-pansion to sustain our strategic pillars.To summarize our continued goals;safely producing while developing our people and being a responsible com-munity partner with a continued focus on long-term growth.Peter RichardsonExecut

306、ive Managing DirectorNEVADA GOLD MINES(NGM)We have tested autonomous trucks and underground battery-driven equipment,and currently we have several open-pit drills at Carlin operating autonomously.Our expansion to a rate of 2,600 tpd has led to lower production costs,establishing Greens Creek as one

307、of the most cost-efficient silver mines globally.Since when has Hecla Mining been operating in Alaska and Idaho?Hecla began operating in Alaska and Idaho 133 years ago,and since then,we have continuously operated with-in a four or five-mile radius from our starting point.Greens Creek,which has been

308、operational since 1987,has experienced a significant increase in silver production.In 2023,we antici-pate producing 9.8-10 million oz,a sub-stantial ramp-up from just a few years ago when the mine produced 7 million oz.This growth primarily results from our efforts to expand the ore we mine and proc

309、ess,with our current daily rate now at 2,600 t.This expansion has led to lower production costs,establishing Greens Creek as one of the most cost-efficient silver mines globally.On the other hand,the Lucky Fri-day mine,which has been operation-al since 1942,faced production chal-lenges due to a labo

310、r strike by the union,which significantly reduced output.Fortunately,we resolved the strike in 2020,and since then,we have consistently increased produc-tion thanks to the adoption of a new mining method for which we recently obtained a patent.This transforma-tion is propelling the mine toward becom

311、ing a 5 million oz/y producer,doubling its traditional output.What is the Underhand Closed Bench mining method?The Lucky Friday mine,situated nearly two miles below the surface,ranks among the deepest mines,subjecting it to considerable geologi-cal stress,which historically limited mining speed,caus

312、ing the mine and stopes to shut down approximately 25%of the time.To address this limi-tation,we developed the Underhand Closed Bench(UCB)mining method.It allows simultaneous destressing of a substantial area,facilitating faster mining and ensuring continuous op-erations.The UCB method relies on adv

313、anced blasting technology,a de-velopment of the past decade,en-abling us to blast a sizable ground section nearly 300 feet deep,induc-ing controlled seismic-like ground closure.What technological advancements is Hecla implementing to enhance mining operations?One of the key technologies we are curre

314、ntly utilizing involves the de-velopment of autonomous jumbo drills.We have seamlessly integrated this technology into our operations,and the results have been notewor-thy.We have achieved a remarkable 10%reduction in overbreak,all while maintaining precise control to pre-vent underbreak.This improv

315、ement holds immense importance,enabling us to extract ore efficiently while minimizing waste.What are some of Heclas explora-tion projects in the US?Our most advanced project is in Montana,where we have access to an extensive deposit of over 300 mil-lion oz of silver across two deposits,along with a

316、 substantial 3 billion lb of copper.This project essentially checks both the silver and copper boxes,and we are currently in the final stages of obtaining exploration authorizations.In the past,this proj-ect was known as Montanore,and our request was primarily for mining authorization.However,we hav

317、e re-evaluated our approach and decided to focus more on exploration.This project is now called the Libby Ex-ploration project,and we aim to ad-vance from resource to reserve;sub-sequently,we will seek permission to commence mining operations.In Colorado,we have made sig-nificant progress on the Bul

318、ldog deposit.However,we are actively negotiating with the government to ensure that our additional efforts do not lead to any unexpected liabili-ties.In Nevada,we have substantial exploration projects underway,and we are steadily advancing on those as well.What is Heclas strategy for achieving and s

319、ustaining growth?We are actively seeking opportuni-ties that align with our existing op-erations,and we have a versatile ap-proach to the type of metal we are considering.Whether it is silver,gold or other hard rock metals like cobalt and nickel,we are open to explora-tion as long as there is synerg

320、y with our current operations.Additionally,our interest in silver extends worldwide.We are currently in the process of developing a mine in Yukon,specifically in Keno Hill.As we continue to expand,Latin Amer-ica is likely to be our next growth destination.To highlight our com-mitment to the region,o

321、ur vice pres-ident of operations has been with our company for 27 years,and 17 of those years were spent working in Latin America.Our extensive history in the region positions it as a strate-gic area for our future growth.Phil BakerCEOHECLA MININGINTERVIEWINTERVIEW28 29 GBR SERIES|WESTERN USA MINING

322、 2024GBR SERIES|WESTERN USA MINING 2024We consciously shrunk our footprint back to North America to mitigate geopolitical risks and stick to where we can leverage our deep relationships and knowledge to grow the company.Can you give an overview of Coeur Minings activities and milestones achieved ove

323、r 2022?Coeur Mining is on track to produce between 10 million and 12 million oz of silver and 300,000 to 350,000 oz of gold in 2023.When we acquired the Wharf mine in Western South Dakota in 2015 for US$99 million,it had an approximate five-year mine life.Today,it still has a mine life of eight year

324、s,and we have taken out nearly US$400 million of free cash flow from this asset.Wharf has been the unsung hero of our operations and seems to continue to generate milestones for us every year.Coeurs Palmarejo mine in Mexico is our largest mine,producing ap-proximately 7 million oz/y of silver and ab

325、out 110,000 oz/y of gold.The mine has continued to operate con-sistently,which is greatly appreciat-ed,especially when we are undergo-ing a significant transformation and expansion at our Rochester mine in northern Nevada.How did Coeur manage high infla-tion to have a lower impact on the companys op

326、erations?Inflation in the labor component of our business is the stickiest given the scarcity of the labor pool.Coeur has an operating excellence team focusing on identifying new opportunities to be more produc-tive and whose target this year is to identify and implement US$25 mil-lion of business i

327、mprovement sav-ings to try and offset inflation.Over the past two years,while inflation is up,metals prices remain at fairly stable levels,but they have not risen enough to offset the impact of in-flation,so you have to be ruthless regarding your cost structure,ef-ficiency and consumption of crucial

328、 consumables and inputs to try and maintain your margins.Can you elaborate on Coeurs ex-pansion activities at the Roches-ter mine?By the end of August 2023,the Roch-ester expansion was 99%complete.The expansion project comprises a stage VI leach pad,a Merrill-Crowe processing plant,and a three-stage

329、 crushing circuit and related infra-structure,which is now substantially complete.We are enthusiastic about ramping up the Rochester mine on the back of this significant expansion,which is expected to deliver mining and processing rates approximately 2.5x higher than historical levels.We expect to r

330、each a run-rate processing rate of approximately 32 million t/y in the first quarter of 2024.The projects overall cost is ex-pected to be about US$710 million.That is a big project for a company our size that poses many risks.As a result,its critical that we continue to de-risk the project by wrappi

331、ng up construction,ramping up the op-eration,and then starting to show free cash flow in 2024.With a lot of exploration to be conducted in the coming years,we hope to further extend and enhance the current 13 year mine life.What is Coeurs exploration strat-egy?Over the past five years,we have invest

332、ed approximately US$250 mil-lion into exploration,which has add-ed close to 8 million gold equivalent oz across all categories reserves are up by approximately a third,measured and indicated resources are up by about 80%,and inferred resources are up by 26%.Most of our exploration invest-ment is don

333、e around our existing in-frastructure,which tends to be low-er risk and higher return.This year,we will spend nearly US$50 million,with approximately 60%spent at Kensington in Alaska and the high-grade Silvertip polymetallic deposit located in British Columbia.Is there an advantage of being a North America-focused company?Over the past decade,we con-sciously shrunk our footprint back to North Amer