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1、WESTERN USAMINING2025Precious Metals-Copper-Critical MineralsClimate Change-Decarbonization-Universities-DataWESTERN USA MINING 2025GBR SERIESThe priority of the Western USA mining industry can be summarized in one word:reshoring.The recent shift in government will only reinforce this focus.While De

2、mo-crats emphasized friend-shoring and near-shoring in their minerals agenda,Presi-dent Donald Trump has pledged to bring domestic mineral production home.However,achieving this goal is far from simple.The US mineral supply chain remains fragile,with critical mineral imports hitting record highs.The

3、 nation relies entirely on foreign sources for 15 critical minerals and has the second longest mine development timeline in the worldaveraging 29 years.Government pledges for net-zero emis-sions by 2050 and 50%electric vehicles by 2030 remain aspirational at best.And Chi-na,which controls global met

4、als production,holds aces in its pocket and will play its hand at a time of its choosing.Despite these challenges,industry momentum is accelerating.September 2024 saw Las Vegas host the quadrennial MINExpo,the worlds largest mining event,with re-cord-breaking attendance.The Western US remains a hotb

5、ed for mineral discover-ies,from copper to lithium to rare earths.Companies are leveraging cutting-edge technologiesincluding AI-driven resource exploration and advanced recycling tech-niquesto foster a more self-reliant future.The road ahead is complex,requiring innovation,technology,policy support

6、,and col-laboration between industry,government and academia.Over 100 executives across the mining value chain shared their perspectives with GBR,underscoring that while the stakes are high,so is the potential for the Western US to reclaim its former pro-duction strength and reignite a new era of ma

7、nifest destiny.We extend our gratitude to the National Mining Association,the American Exploration and Mining Association,and the state-level mining associations,as well as the many executives who generously shared their insights with us.We hope this report aids all stakeholders in navigating the ev

8、olving landscape of the Western US mining sector.Alfonso TejerinaDirector and General ManagerGlobal Business Reports(GBR)Dear Readers,Hydroelectric PlantCerro del guila593 MWHuancavelica,PeruWe provide energy and sustainable solutions to develop each company,city and countryKallpa GeneracinScan QR c

9、ode to readthe digital interactiveversion of this report.GBR SERIES|WESTERN USA MINING 2025WELCOME LETTER3 Western USA Mining 2025Introduction to Western USA8Changing Tides11Interview with the National Mining Asso-ciation12Interviews with Arizona Mining Associa-tion and with Nevada Mining Associatio

10、n13Interviews with Colorado Mining Associa-tion and with Idaho Mining Association14Net Zero 2050 A Note to Politicians17Interview with Inkia Energy18The Role of Universities in the Industrys Future19Interview with the University of Arizona School of Mining&Mineral Resources22Interview with the Color

11、ado School of Mines23 Interview with the University of UtahProduction and Development26Precious Metals Production and Development27Interview with Nevada Gold Mines28Interview with Coeur Mining30Interview with Hecla Mining31Interviews with Idaho Strategic Resources,Integra Resources and with Andean P

12、recious Metals32Interview with U.S.Gold Corp33Factsheet:Value of Metals and Metallic Minerals by Region in 202334Copper Production and Development37Interview with Freeport-McMoRan Americas38Interview with Rio Tinto39 Interview with Asarco40Interview with KGHM41 Interviews with Capstone Copper and wi

13、th Hudbay Minerals43Interview with Resolution Copper44Interview with Arizona Sonoran Copper45Interview with Gunnison Copper Corp46Interview with Northern Dynasty Minerals47Critical Minerals Production and Development48Interviews with Ioneer,Lithium Americas and with American Battery Technology Compa

14、ny49Interview with South3250Interview with Perpetua Resources53Uranium Production and DevelopmentExploration56Western USA Exploration58Interview with Idaho Copper59Interviews with Faraday Copper,Copper Fox Metals and with Nova Minerals61Business Insights:Highlighted Projects,Precious Metals and Copp

15、er62Critical Minerals Exploration64Interviews with Jindalee Lithium and with Grid Battery Metals65Business Insights:Highlighted Projects,Critical MineralsEngineering,Consulting and Contracting68Preparing Mining for the New Climate Frontier70Interview with Stantec71Expert Opinion Article:Transforming

16、 Envi-ronmental Challenges by WSP USA72Interview with SRK73Interviews with Worley and with Knight Pisold75Interview with Life Cycle Geo76Interview with Burgex Mining Consultants77Interview with Practical Mining78Business Insights:Prioritizing Climate Change Adaptation79Contractors82Interview with Ce

17、mentation Americas83Interview with Turner Mining Group84Interview with Small Mine Development85Interviews with Master Drilling and with RobbinsEquipment,Technology and Service Providers88Decarbonization:Movement and Energy89Interview with Epiroc USA91Interview with TAKRAF USA92Interview with Yokogaw

18、a93Interviews with Michelin Global Mining and with Bridgestone94Interview with Bosch Rexroth95Decarbonization:Drill through Mill97Interview with Eriez98Interview with Premier Drilling Co.99Interviews with Dyno Nobel and with Solenis100 A Date with Data102 Interviews with VerAI and with Strayos103 Bu

19、siness Insights:Find your Match 104 Company Directory106 CreditsProduction and DevelopmentEngineering,Consulting and ContractingEquipment,Technology and Service Providers24-5366-8586-103A Global Business Reports PublicationFor updated industry news from our on-the-ground teams around the world,pleas

20、e visit our website where you can suscribe to our newsletters,and follow us on LinkedIn(gbreports)and X(GBReports).WESTERN USA MINING 2025GBR SERIESNGBR SERIES|WESTERN USA MINING 20255 TABLE OF CONTENTSINTRODUCTION TO WESTERN USARich NolanPresident and CEONATIONAL MINING ASSOCIATIONGBR Series WESTER

21、N USA MINING 2025Image by pabrady63 at Adobe StockWe believe Made in America should be Mined in America,and to make that a reality we must reshore our minerals supply chains,even if that cannot happen overnight.Changing TidesDonald J.Trump assumed office on January 20th,2025,as the 47th presi-dent o

22、f the United States.Speculation abounds about the policies he will im-plement or undo,but one outcome seems certain:the mining industry stands to benefit.While the presiden-thas made few direct statements on the sector,his 2020 pledge to“put our miners back to work”still resonates.Trumps election vi

23、ctory has already garnered enthusiastic support from the mining industry:“Together with the next Trump administration and Con-gress,we can increase Americas com-petitive standing on the global stage,ensuring that made in America also means mined in America,”Rich Nolan,president and CEO of the Nation

24、al Min-ing Association issued in a statement following the election.It remains to be seen how Trump will navigate the backdrop he inherited.In 2023,the United States achieved a re-cord high for mineral imports,marking an all-time low for supply chain stabili-ty.According to the US Geological Sur-vey

25、s(USGS)2023 Minerals Commodity Summaries report,the US was more than 50%reliant on 51 minerals,and 100%net import reliant for 15 of those 51 minerals,12 of which are deemed“critical”.In 2024,not much changed.The US is more than 50%reliant on 49 minerals,and 100%reliant on the same 15.This reliance w

26、ill likely be reduced under Trump if his previous presiden-cy is any indication.In 2017,President Donald Trump issued Executive order of the Comstock Lode,evolved into a leading gold producer.“If considered a country,Nevada would rank as the sixth-largest gold producer globally.The state is responsi

27、ble for approx-imately 73%of the gold mined in the US,”said Amanda Hilton,president of the Nevada Mining Association.However,Nevada is well on its way to becoming the White Gold State,hosting the only active lithium mine in the US,with two additional mines,Lithium Americas Thacker Pass and Ioneers R

28、hyolite Ridge,both expecting production by,or in,2027.Nevada houses the countrys largest lithium deposits.Processing capabil-ities,however,are lagging.“Nevada is one of the few places on the plan-et with large enough critical element deposits to support multigenerational activity in mining,extractio

29、n,and ad-vanced manufacturing.However,there is a large gap in processing abilities.Nevada is currently a net exporter of raw critical element ore to China,”ex-plained Frederick Steinmann,director,University Center for Economic Devel-opment(UCED),at the University of Nevada,Reno(UNR).In 2023,the UNR

30、received US$1 million in financing from the NSFs Re-gional Innovation Engines program to begin to address the challenge.“We recognize the processing and refin-ing gaps and are attempting to bring in new technologies and improve old ones.We are working with consultan-cies and venture capital firms to

31、 pro-vide information,knowledge,sophisti-cation,and support to move towards commercialization,”highlighted Erica Hall,senior project manager at UNR.Trump vowed to eliminate incen-tives to promote EV production and adoption,which could curtail the entire multibillion dollar EV industry,which has Neva

32、da at its heart.EV demand could fall 20%by 2030 if Trump follows through on campaign promises,ac-cording to Benchmark Intelligence.Arizona:A US treasure chestUnder the red sands of Arizona lies a 21st century treasure chest.However,lifting the lid reveals something even more industrially valuable th

33、an gold.Copper,one of the leading metals for the energy transition,may not shine a bright as gold,but is equally the United States plunder.Lately,the metal has been treated as fools gold.Import re-liance for copper grew 5%from 2023 to 2024.This reliance will only increase as American demand for copp

34、er will far outstrip supply in the coming years.The US lacks both raw and refined sup-ply,housing only two functional smelt-ers.Despite its critical role in the green energy transition and the country be-ing 46%import reliant on the metal,copper is not defined as a critical min-eral by the US govern

35、ment.The USGS even denied a bipartisan request to add copper to the list.Arizona has been the leading cop-per-producing state in the US for over a century.Mining contributes approx-imately US$6.7 billion annually to the states economy and supports around 38,000 jobs directly and indirectly.Sev-eral

36、companiesincluding Resolution Copper,Florence Copper,Gunnison Copper,Arizona Sonoranwill like-ly bring mines online in the coming months to years to reduce foreign reli-ance on the metal amid rising demand.Demand is steep,increasing to 56 mil-lion t/y by 2050,a sizable increase over todays 21-millio

37、n-t market.Mines like Resolution Copper that have been stalled in litigation for decades may advance towards pro-duction under Trump rule.Rio Tinto executive Bold Baatar called on the administration to focus on speeding up permitting in the US.No matter the stance,one thing remains clear:“Copper is

38、a critical mineral for de-carbonization and securing the US From offshoring to reshoring domestic mineral productionImage by BrilliantPixels at Adobe Stock13817,to facilitate better management of critical minerals to strengthen ener-gy security.Under the order,“it shall be the policy of the Federal

39、Government to reduce the Nations vulnerability to disruptions in the supply of criti-cal minerals”by“streamlining leasing and permitting processes to expedite exploration,production,processing,reprocessing,recycling,and domestic refining of critical minerals.”While the Democrats approach posi-tioned

40、“friend-shoring”and“near-shor-ing”at the center of the agenda,Trump claims he will prioritize“reshoring”do-mestic minerals production.While federal policy plays a signif-icant role,the local dynamics in key mining states illustrate the countrys abilities to fulfill executive orders.Nevada:a lithium

41、islandCapital markets have been hesitant to invest in lithium,given the commodi-tys poor performance over the past 12 months.Under Biden,the government became especially involved in the space.While capital markets require quick returns,the Biden administra-tion looked longer term,seeing lithium thro

42、ugh the lens of energy transition demand.Nevada received four fed-eral investments as the US worked to increase market share in the battery space.Under the Bipartisan Infrastruc-ture Law,the DOE awarded a sum of US$4.62 billion to 35 projects in 2022 and 2023.Three are in Nevada.Nevada,historically

43、known as the Silver State since the 1859 discovery supply chain.Arizona produces 74%of the nations copper supply.The en-ergy transition,innovation,our quality of life,and our ability to mine are all contingent on this mineral,”said Steve Trussell,executive director of the Ari-zona Mining Association

44、.Utah,Wyoming,New Mexico:Riding the nuclear currentsThe up-and-coming star in the US is Utah,having placed first in the Fraser Institutes Investment Attractiveness Index,after finishing 17th in 2022.Utah has long supported the growth of the nation,said Nathan Foster,managing director Kennecott at Ri

45、o Tinto:“About 25%of the metal supplied to the Allies during World War II came from Utah,underscoring Kennecotts role in North Americas growth.”80 years after the end of WWII,Utah continues to play a pivotal role in the nations development.The state hous-es one of the two operational copper smelters

46、 and Kennecott produces 15-20%of the domestic refined copper supply.Utah is also the third-largest urani-um-producing state in the US.The states first uranium boom arrived in 1948 when the US Atomic Energy Commission pro-vided benefits to domestically mined uranium for nuclear weapons.A second urani

47、um boom followed in the early 1970s with the development of the nu-clear power industry.With nuclear ener-gy once again in the spotlight,the boom is returning to Utah,bringing mines on-line,like IsoEnergys Tony M mine.The Trump energy plan aims to boost to nuclear energy,which currently makes up onl

48、y 18.6%of US electricity produc-tion,according to the US Energy Informa-tion Administration.“Trump will support nuclear energy production by moderniz-ing the Nuclear Regulatory Commission,working to keep existing power plants open and investing in innovative small modular reactors,”said David Bernha

49、rdt,former Interior Secretary,on a press call.These plans will bode well for New Mexico and Wyoming,as the top pro-ducers of uranium.They produced 347 and 250 million pounds respectively during 2024.9 EDITORIALGBR SERIES|WESTERN USA MINING 2025EDITORIAL8 GBR SERIES|WESTERN USA MINING 2025How does th

50、e National Mining Association(NMA)help address the industrys challenges?The United States is in the most intensive minerals and metals era since World War II.Demand is soaring,ex-ploration continues to grow,but far too few projects are coming online as quickly as they are needed.The pres-sure is imm

51、ense to meet the demands driven by electri-fication,artificial intelligence,energy needs,and renew-able energy projects.These sectors depend on mined materials and the status quo is insufficient.Third-party forecasts indicate a looming deficit without more invest-ment in the mining sector.This creat

52、es significant opportunities for current op-erators,juniors and exploration companies,with indus-try looking to the government for support in permitting projects in a responsible yet streamlined way.That is where the NMA steps in.We are actively working with the federal government on the permitting

53、reform that is sorely needed in the US.Our goal is to maintain the highest environmental,safety and labor standards in the world,while addressing the challenge highlighted by the S&P report that in the US it takes an average of 29 years to bring a new mine online.This timeline must be reduced to mee

54、t the growing demands of modern life.How will the proposed legislative reforms impact mining projects in the US?A broad group of bipartisan congressional allies is grow-ing,aligned behind the need for permitting reform,and we have seen an important bill move forward in the Sen-ate.The legislation in

55、cludes key judicial reforms aimed at addressing lengthy legal challenges to mining projects.It also brings much-needed clarifications on ancillary use,specifically regarding the ability to use public lands for es-sential activities like setting up mining infrastructure and depositing waste rock near

56、 mine sites.Proposed changes to the National Environmental Policy Act(NEPA)are pivot-al.NEPA governs the timelines and deadlines by which the federal government must make environmental decisions on projects.These reforms are essential to ensuring that decisions are made transparently and within a re

57、asonable timeframe,which is currently one of the biggest obstacles to advancing new mining projects.If passed,it would be a major win for the mining industry.Rich NolanPresident and CEONATIONAL MINING ASSOCIATION(NMA)The pressure is immense to meet the demands driven by electrification,artificial in

58、telligence,energy needs,and renewable energy projects.How can the US remain competitive on the global market while maintaining high standards?The United States lags 20 years behind China in de-veloping and advancing its minerals strategy.We be-lieve Made in America should be Mined in Ameri-ca,and to

59、 make that a reality,we must reshore our minerals supply chains,even if it cant happen over-night.There is strong bipartisan concern over Chinas dominance in locking up global supply chains.Re-cently,we have seen China weaponize materials like antimony and gallium by manipulating supply and restrict

60、ing exports.China has been dumping materi-als,like lithium,to crush prices in the market.Russia has dealt a blow by wiping out the only US palladium and platinum-producing mine in Montana.These ac-tions highlight the urgent need for the United States to strengthen its position in critical mineral su

61、pply chains.What progress has been made in reducing the en-vironmental impacts of mining operations?About five years ago,the NMA launched a sustain-ability task force to share ideas and promote best practices across the industry.Many of our mem-bers publish annual sustainability reports,providing tr

62、ansparency on their progress in community en-gagement,and environmental and labor standards.Companies are focused on lowering electricity and diesel consumption and aiming to recycle 100%of the water used on-site.They are making great strides in minimizing energy use and improving sustainabili-ty ac

63、ross their operations.We are proud to see Arch Resources become the first US mining company to adopt the Towards Sustainable Mining(TSM)stan-dard,and we expect others to follow.Do you have a final message?Through efforts like NMA TV,campaigns such as Minerals Make Life,and other efforts,we are work-

64、ing to educate the public about the critical role min-erals play in everyday life.Communicating with pol-icymakers and the public is key to what associations like ours do,and we are fully committed to bridging this knowledge gap.Idaho:Anchored in opportunityThe mountains and valleys of Idaho cannot

65、be overlooked when it comes to supplying the nation.“The northern part of the state features the Idaho Silver Valley,which has been pro-ducing silver for over 100 years.Central and southern Idaho has considerable gold deposits,along with molybdenum and copper.On the eastern side,we have the Idaho Co

66、balt Belt,which also includes rare earth elements,”detailed Benjamin Davenport,executive director at the Idaho Mining Association.Idahos mining history dates to the 1860s,providing the foundation for the states current mining-friendly status,said Jon Cherry,president and CEO of Perpetua Resources:“I

67、daho has a long history of mining,which is deeply embedded in the states culture.The presence of significant mineral resources and a multi-generational mining workforce makes Idaho a unique and advantageous location for mining activities.”Under the Trump administration,Perpetua will likely come into

68、 the spotlight as its Stibnite gold project contains approx-imately 90,000 t of antimony.The US is 100%import reliant for antimony,but American manufacturers require more than 50 million lb/y for fireproofing compounds,batteries,ammunition,electronics,specialty glass,and other products,according to

69、MetalTech.Antimony production is dominated by China,Tajikistan and Russia.China accounted for 48%global antimony production in 2023,according to the USGS,but restricted exports in September 2024.The US government will provide a US$1.86 billion loan to bring Stibnite into production by 2029.Colorado

70、and Alaska:Tides of legacyThe snowcapped peaks of Colorado and Alaska are char-acterized by an enduring legacy of manifest destiny.The Pikes Peak Gold Rush in Colorado and discoveries like For-tymile River in Alaska brought settlers West.Though golden streams of opportunity once flowed more readily

71、through their mountain valleys,these states still host much mining activity.Alaska is home to Kinrosss Fort Knox gold mine and Heclas Greens Creek mine.Colorado houses Freeport-Mc-MoRans Climax molybdenum mine and Newmonts Cripple Creek&Victor gold mine.Mining contributes US$7 billion annually to Co

72、lorados economy and employs 58,000 peo-ple directly or indirectly.Alaska ranked 11th on the Fraser Institute Attractiveness Index.The state contains significant antimony reserves,like Nova Minerals Estelle gold project,which will likely receive attention under the current administration.Colorado ran

73、ked lower in the Fraser ratings but has a unique proposition.“The states diverse mineral endow-ment,combined with our broad range of mineral reliant industries including clean energy development,aerospace and national security applications,provides a broad range of investment opportunities for commo

74、dities needed in these sectors,and makes Colorado a unique and attractive place for mining investment,”said Adam Eckman,president and CEO of the Colorado Mining Association.Founded in 1876,Colorado has the oldest mining trade association in the US.As the legacy continues,so will miners across the en

75、tire Rocky Mountain Range.Charting a new courseIn his memoir One Mans West,author David Lavender de-tails a mining operation in the mountains of Southwest Col-orado:“Only the coarser particles of free gold could be ex-tracted from the ore by the lease companys mill.The finest stuff and the various g

76、old,silver,lead and zinc compounds were sent through a complicated floatation process The richly laden sand which remained was then sacked and sent to a smelter of final reduction.”The description is of Camp Birda mine operated over a century agowhen US$20/oz gold brought profits and horse-drawn wag

77、ons transported extracted riches.Today,gold is over 100 times more valuable and trucks without drivers transport mined material.Lavenders description is perennial,but it should not be.“Mining has not changed over time;we still break,crush and heat rock to make met-al,but now with bigger,more advance

78、d equipment.The US mining industry must innovate,adopting new technologies and methodologies to stay competitive while meeting en-vironmental and cost demands,”said Travis McLing,direc-torate fellow and critical minerals research Co-lead at the Idaho National Laboratory.For the US,competing on a glo

79、bal scale will be difficult.“China holds the equivalent of pocket aces at the poker ta-ble,and they will play that hand when they choose,”warned John Swallow,president and CEO of Idaho Strategic Re-sources.From what industry executives told GBR,the appeal of Trump is that he will play a seven deuce

80、offsuit like he has pocket aces;those players are usually the most lethal.11 INTERVIEWGBR SERIES|WESTERN USA MINING 2025EDITORIAL10 GBR SERIES|WESTERN USA MINING 2025Can you introduce the Idaho Mining Association and how it supports Ida-hos mining industry?The Idaho Mining Association(IMA)acts as a

81、crucial advocate for the mining in-dustry in Idaho.Our primary function is to influence and shape policy to create a favorable operating environment for the industry.Beyond advocacy,we also spend time in the field networking and educating the public and policymakers.Can you describe the geological m

82、akeup of the state?In the southeast corner,we have the Idaho phosphate patch.The northern part of the state features the Idaho Sil-ver Valley.Central and southern Idaho has considerable gold deposits,along with molybdenum and copper.On the eastern side,we have the Idaho Cobalt Belt,which also includ

83、es rare earth el-ements.What are the benefits of Idaho in the mining space?Our policymakers do a commendable job of facilitating natural resource de-velopment and mixed land use oppor-tunities.The challenge,however,is that over 60%of Idahos land is federally owned,making it difficult to assemble Ben

84、jamin DavenportExecutive DirectorIDAHO MINING ASSOCIATION(IMA)What were the major issues faced by members in the past year?In the 2024 legislative session,the largest single issue was new water reg-ulation in the aftermath of the US Su-preme Courts Sackett v.EPA decision.The decision significantly i

85、mpacted fed-eral oversight of certain wetlands and streams,leading Colorado to establish state-level protections.This became a major legislative issue as the state needed to regulate waters no longer covered by the federal Clean Water Act.Colorado implemented a robust regu-latory regime aimed at all

86、 state waters,which posed a significant challenge for mining operations due to their water intensity.CMA engaged with state legis-lators to amend the introduced legisla-tion successfully,making it more work-able for member companies as the state established its first dredge and fill regulatory permi

87、t process.What notable milestones have been achieved by members in the past year?There is significant excitement in min-ing focused on uranium and critical minerals.With the clean energy transi-What is the role of the Arizona Min-ing Association and how has mem-bership evolved recently?At the AMA,we

88、 focus on federal,state and local policy,regulatory work,and community relations.Our primary con-cern has been understanding how po-litical shifts will impact mining and en-suring our 13 committees,composed of various mining companies,address key issues effectively.Additionally,we emphasize communit

89、y relations,striv-ing to unite mining communities and engage in meaningful projects that en-hance these areas.We have seen a significant increase in membership in exploration and de-velopment companies.Arizona boasts an incredible geological and mineral endowment,with much still to be de-veloped.Wha

90、t are recent advances in the Ar-izona mining sector?The supreme courts decision for Res-olution was huge.The Cactus mine of Arizona Sonoran recently achieved a significant milestone by being included in the citys general planning amend-Steve TrussellExecutive Director ARIZONA MINING ASSOCIATION(AMA)

91、What are recent milestones reached by the Nevada mining industry and the association?Nevada has solidified its position as a national leader in lithium develop-ment,thanks to a collaborative effort between public and private entities.In 2023,the University of Nevada,Reno was designated a US technolo

92、gy hub,attracting federal funding that sup-ports workforce development and Na-tive American affairs.Nevadas lithium loop now encompasses the full lithium value chainfrom mining to battery production and recycling.With the only operational lithium mine in the US and two additional mines set to launch

93、 soon,Nevada is strengthening its role in supplying critical minerals essen-tial for the nations energy future.The state also produces key minerals like barium,magnesium and copper,fur-ther contributing to diverse industries.What is the states production and socioeconomic profile?Nevadas mineral pro

94、duction is exten-sive,covering 20 minerals with gold as the largest output.If Nevada were a country,it would rank as the sixth-larg-est gold producer globally,account-ing for approximately 73%of the gold Amanda HiltonPresidentNEVADA MINING ASSOCIATION(NVMA)mined in the US.In 2023,mining con-tributed

95、 over US$12 billion to Nevadas economic output.The industry sup-ports more than 30,000 jobs.How does the NVMA engage with schools to educate the younger gen-eration?With a significant portion of our skilled workforce nearing retirement,were intensifying outreach to younger stu-dents to introduce the

96、m to mining careers before high school.Our edu-cation committee is expanding efforts across Nevada,utilizing digital and social media to connect with todays youth where they consume informa-tion and showcase modern mining op-portunities.How is Nevadas mining industry re-sponding to the climate crisi

97、s?Nevadas mining industry contributes to combating climate change both through the essential minerals it pro-duces for renewable technologies and its own sustainability initiatives.For instance,Nevada Gold Mines recently installed a 200-megawatt solar facility and secured a federal grant for addi-ti

98、onal solar installations,significantly reducing its carbon footprint.ment.If they can get the mine oper-ational,it would become the eighth largest copper producer in the US.Florence Copper,which is currently un-der construction,will have a mine life of 22 years,mineral reserves of 320 million t grad

99、ing 0.36%copper,and an annual production capacity of 85 million lb of LME Grade A copper cath-ode produced onsite.As one of the lowest-GHG sources of new US copper production,Florence Copper is expect-ed to herald a new era of American mining in support of net-zero.How is the AMA addressing chal-len

100、ges to advance the industry?We are working to address the skilled labor shortage through career techni-cal education(CTE)programs.We want people to understand how sophisti-cated the mining industry is.Peoples perception of mining of the past is not accurate today.Mining is a significant contributor

101、to Arizonas economy.We are working to keep mining viable,re-sponsible,and sustainable so we can continue to enhance the quality of peoples lives.land packages for mining without fed-eral permits.Despite this,local and state policymakers generally have an open-door policy for permitting and approvals

102、.How does the association support environmental stewardship?The Idaho Mining Association has up-dated the Financial Assurance and Surface Mining Act for the first time in over 50 years to meet current stan-dards.These updates ensure that ade-quate funds are set aside for land rec-lamation.We have al

103、so introduced new water quality and rock impoundment standards.What are some of the challenges that miners face in Idaho today?Federal delays are costly and time-con-suming.Social acceptance and commu-nity perceptions can impede progress,with misunderstandings between in-dustry and locals often a ba

104、rrier.The well-funded conservation communi-ty and complex litigation,particularly during permitting,add to the difficul-ties.A major issue is the workforce shortage,with many experienced work-ers retiring and a struggle to attract young professionals.Adam EckmanPresident and CEOCOLORADO MINING ASSOC

105、IATION(CMA)tion underway,interest in nuclear de-velopment has surged,and the price of uranium is currently the highest it has been in many years.What makes Colorado an attractive place for mining development?Colorado was recently ranked as the fifth most favorable jurisdiction in the world for minin

106、g investment by the Frasier Institute.Colorado boasts some of the most environmentally sound and safety-conscious operations glob-ally.The states diverse mineral en-dowment,including some of the most abundant molybdenum reserves in the world,one of the nations leading gold mines,as well as copper,si

107、lver,ura-nium,and critical minerals reserves,combined with our broad range of min-eral reliant industries,including clean energy development,aerospace,and national security applications,Colora-do is a unique and attractive place for mining investment.Colorado is poised to play a leading role in raw

108、materials production for the clean energy tran-sition,advanced technology,and na-tional security minerals applications,among others.12 13 INTERVIEWINTERVIEWGBR SERIES|WESTERN USA MINING 2025GBR SERIES|WESTERN USA MINING 2025Net Zero 2050-A Note to Politicians Humanity has been a fossil-fueled civili

109、zation for 125 years,when coal and oil surpassed wood as the leading energy source in the late 1800s.Net zero would mean a paradigm shift in the energy we have relied on since that time.As of 2022,fossil fuels accounted for 82%of the worlds primary energy supply.Hydro,nuclear,wind,solar and geotherm

110、al plants provided only 18%of world energy supply.The share of fossil fuels in global energy use decreased only 4%from 1997 to 2022,according to Vaclav Smils Halfway Between Kyoto and 2050 report.Net zero means that in the 28-year span from 2022 to 2050,clean energies must not only displace fossil f

111、uels cur-rent place in electricity generation,but also account for the forecasted 3.3%annual growth in electricity demand.Clean energy technology must also replace all other sources of emissions,including transportation.These demands put unprecedented pressure on the mining and metals indus-try.It i

112、s estimated that 384 mines must be built by 2035 to meet EV and energy storage battery demand alone,accord-ing to Benchmark Intelligence.“Electric vehicles,batteries and renewable energy systems all require metals like lith-ium,cobalt,nickel and magnets,”emphasized Robert Fox,materials separations a

113、nd analysis department manager at the Idaho National Laboratory.Achieving net zero would mean 3,500 GW of new renew-able resources operating by 2050.Each megawatt of wind power demands 500 t of materials,including copper,neo-dymium and praseodymium,as highlighted by European Union research.Solar pow

114、er,too,is straining the supply of precious metals,with silver demand projected to rise by 170%by 2030 due to solar panel production.“Demand from new photovoltaic installations globally could result in more demand for silver than total global annual supply,”said Mitchell Krebs,president and CEO of Co

115、eur Mining.Net zero means electrifying the fleet of consumer vehi-cles.Replacing the 1.35 billion gasoline and diesel cars on the road todayand accommodating an expanded fleet projected to reach 2.2 billion vehicles by 2050will demand an additional 150 million t/y of copper.The Energy Transi-tion Co

116、mmission estimates that cumulative copper demand for net zero will total 600 million t/y.For perspective,global copper production in 2023 was just 22 million t/y,accord-ing to the USGS 2024 Mineral Commodity Summary.With copper grades averaging 0.6%,meeting this demand would generate 100 billion t/y

117、 of waste rock.While lithium scarcity concerns fueled the 2021 price rally,the mineral remains crucial for EV production,emphasized Bernard Rowe,managing director of Ioneer:“The US is the second-largest car market in the world.Today the produc-tion of lithium in the country is between 5,000-7,000 t/

118、y.By the early 2030s,the US alone will require around 1 million t/y of lithium carbonate equivalent.”Recycling:A part of the minerals supply solutionAt 29 years,the lead time to bring a mine into production in the US means a deposit discovered today misses contrib-uting to the countrys 2050 net zero

119、 target by four years,immediately extinguishing hopes of a cleaner future.How-ever,metals supply can come in different forms:“There is no scenario in which the world could come close to Paris agreement targets without recycling all the needed materi-als in the worlds supply chains,”said Corrado De G

120、asperis,executive chairman and CEO,Comstock Inc.There is an estimated 280 billion t of inactive tailings de-posits worldwide,estimated to contain trillions in estimated value of critical,precious and strategic metals.Reprocessing this material is a no-brainer according to Tawana Bain,CEO of American

121、 Clean Resources Group:“The reintroduction of minerals and metals that were once considered waste into the supply chain not only diversifies our sources of supply but also advances Americas goal of self-reliance.This shift has the potential to transform the mining industry in the US,creating safer j

122、ob opportunities and redefining the sectors future.”The firm is starting with the tailings in the 1,183 acres of their Tonopah property in Nevada.The US Forest Service identified 38,991 abandoned mine sites on National Forest Lands.Many of such mines oper-ated under environmental regulations inadmis

123、sible today.Recycling the material is a win-win,according to Dustin Was-ley market leader mining at Haley&Aldrich:“Legacy mine sites,although inactive,still hold valuable mineral resourc-es.Revitalizing these areas not only limits the impact of re-introducing critical minerals into the supply chain

124、but also facilitates needed environmental restoration.”In 2022,the Department of Energy awarded US$74 mil-lion under the Bipartisan Infrastructure Law to 10 projects focused on battery recycling and reuse.Two of the awarded companies,American Battery Technology Company(ABTC)and Redwood Materials,are

125、 recycling lithium-ion batteries in Nevada.ABTCs parallel lithium extraction and battery recycling businesses exemplify the importance of recycling when moving away from fossil fuels:Building partnerships is crucial for creating a closed-loop supply chain,which dif-fers significantly from the tradit

126、ional hydrocarbon econo-my,where resources are used once and then depleted.With elements like lithium,having strong partnerships allows us to maintain control over these materials indefinitely.said Ryan Melsert,CEO and CTO,ABTC.Solar panels provide another type of recycling feedstock.“More than 100,

127、000 t/y of waste solar panels are generated,mostly from California,Arizona and Nevada.By 2030,this is expected to rise to 1 million t/y,and,by 2050,8-10 million t/y,”said Corrado De Gasperis.In 2023,Comstock Metals,a subsidiary of Comstock Inc.,established a commercial demonstration facility to recy

128、cle 100%of end-of-life solar panels,yielding glass,silica,alu-minum copper and a high-silver-content metallurgical ore.Without the uptake of recycling and reuse to meet 2050 targets,mining capital requirements would increase by a third,according to the International Energy Agency(IEA).The current re

129、cycling rate for copper is around 29%;in-creasing this to 100%by 2050 would reduce primary copper demand by 26%,according to the World Bank Group.Even with significant improvements in recycling rates,secondary supply from recycling cannot fully meet the rap-id growth in demand for critical minerals.

130、“Most countries,including the US,Europe,China and Australia,are increas-ing their need for raw materials like copper.While recycling helps address this gap in supply,it is just one part of the solution.We need new mines to keep up with demand,but can we build these fast enough?”implored Nathan Foste

131、r,managing director Kennecott at Rio Tinto.Climate goals and permitting reform:A policy balancing actMany praise the Biden Administration as the administration that took more climate action than any other in history.The three legislative measures comprising Bidens Investing in America agenda include

132、 the Bipartisan Infrastructure Law(BIL),CHIPS and Science Act,and Inflation Reduction Act(IRA),which will have the biggest impact on the domestic mining industry.Under the BIL,the US will invest more than US$7 billion in the supply chain for batteries,which includes production,sourcing and recycling

133、.This amount is part of the US$62 billion allocated to the US Department of Energy to fund and expand clean energy initiatives and technologies.The CHIPS and Science Act,while primarily aimed at semicon-ductor supply chain resilience,seeks to jumpstart R&D and Sincerely,the Mining IndustryImage by L

134、ucrezia Falcidiacommercialization of leading-edge technologies,including clean energy and the creation new regional high-tech hubs.A portion of the IRAs US$370 billion in investments will ac-celerate private investment in clean energy solutions and strengthen critical mineral supply chains.From a po

135、licy standpoint,the Biden administration made significant progress.However,many mining executives feel that critical issues remain unaddressed.According to Mark Compton,executive director American Exploration&Mining Association(AEMA):“The Biden administration recognized the need for mining to meet c

136、lean energy goals,but this has not yet translated into concrete actions to support domes-tic mining.While some projects,particularly in the lithium space,received federal support,widespread support re-mains lacking.”The US permitting landscape has resulted in some of the longest lead times globally

137、to bring a resource from dis-covery to production,second only to Zambia.The Nation-al Environmental Policy Act(NEPA)sets the timelines and deadlines for federal environmental decisions on projects,but it also contributes to significant delays.In May 2024,the White House Council on Environmental Qual

138、ity(CEQ)pub-lished its final Phase 2 rule,revising the agencys regulations for implementing the NEPA and expanding environmental reviews for projects,including mining,which will require more detailed assessments of climate impacts,communi-ty effects and cumulative impacts while adding enforceable mi

139、tigation requirements.The new guidelines raise concerns TSX:NDM NYSE AmerIcan:NAKTHE PEBBLE PROJECTA U.S.BASED WORLD CLASS COPPER RESOURCEHELPING TO SECURE AMERICAS GREEN FUTUREFIND OUT MORE AT:NORTHERNDYNASTYMINERALS.COM PEBBLEPARTNERSHIP.COM RIGHTMINERIGHTTIME.COM15 EDITORIALGBR SERIES|WESTERN USA

140、 MINING 2025EDITORIAL14 GBR SERIES|WESTERN USA MINING 2025Can you introduce Inkia Energy and the firms energy portfolio?In 2018,I Squared Capital,a private equity fund that is the current controlling shareholder of the company,acquired Inkia Energy.By 2019,we merged Inkia with Orazul under the Inkia

141、 Energy name.Both Orazul and Inkia had substan-tial assets in Peru,which we combined to form Kallpa.Inkia Energy is now the largest power generation and commer-cialization company in Peru.Inkia Energy is highly diversified,with a strong balance between thermal and hydroelectric capacity.The compa-ny

142、 operates 1,237 MW of thermal capacity in Peru,utilizing the most modern combined cycle plants that run on locally sourced natural gas.This gas is priced domestically so is very predictable,which makes electricity in Peru cheaper than other countries around.The plants are strategically located close

143、 to Lima.Inkia operates three hydroelectric plants,totaling around 1,000 MWs.This includes Cerro del guila,Can del Pato and Carhuaquero.Inkia has expand-ed into battery energy storage systems(BESS).What transformational change is the company under-going?Kallpa,which has 340 MWs under construction in

144、 its Sunny 1 and Sunny 2 projects,has signed power purchase agree-ments with Zelestra and Enhol.By early 2026,the compa-ny will have around 1,000 MWs of solar capacity,forming the largest solar hub in Peru,located in the resource-rich southern region with an excellent 33%plant factor.On top of this,

145、Inkia is also targeting 600 MWs of eolic,and addi-tional 300 MWs of solar capacity by 2030,bringing its to-tal non-conventional renewable portfolio to around 2,000 MWs within the decade.This will bring specific emissions of the company well below 0.15 tons of CO2 per MWh.During construction,we hire

146、many local workers.We also contribute to communities through taxes and cooperation programs.Kallpas ESG team is larger than our commer-cial team because building strong community ties is crucial for long-term success,especially in Peru.How does the shift towards greener energy economy impact the min

147、ing industry?There is a global shift toward greener industries,and min-ing is no exception.Energy costs comprise 15-30%of a mining companys expenses,with a significant portion of Willem Van TwembekeCEOINKIA ENERGYProducing a ton of copper ore requires 30-100 kilowatt-hours of energy.By providing cle

148、aner electricity,we help mining clients reduce emissions.that being electricity.Producing a ton of copper ore re-quires 30-100 kilowatt-hours of energy,depending on the mine.By providing cleaner electricity,we help them re-duce emissions.How does legacy infrastructure affect countries abili-ties to

149、meet net-zero goals?In Latin America,only Brazil surpasses Peru in terms of green energy production.While many countries struggle to reach their green energy goals,Peru is on track without needing new laws or drastic changes.Latin America leads globally in clean energy,outpacing continents like Euro

150、pe and countries like the US or China,where legacy technol-ogies hinder progress.Industrialized countries have more legacy systems,and a heavy industrial base compared to places like Peru and face by consequence greater challeng-es in going green.Peru will naturally achieve net-zero emissions by 205

151、0 due to its vast resources and existing policies.What is the firms approach to community relations?At Inkia Energy,we do not believe in simply handing out money to local communities.Instead,we collaborate on infrastructure projects that benefit them directly.Work-ing alongside the Peruvian state,we

152、 involve both the local communities and government in managing these projects.It is a true partnership.Education is another priority for us.We invest heavily in it because we believe it is key to Perus future,both for the people and the economy.We also focus on entrepreneurship,helping local communi

153、ties start their own businesses.Seeing them generate their own income provides true and solid long-term benefits.We prefer en-trepreneurs to be proud of their own achievements.What are Inkias priorities moving forward?The companys main priority is serving its clients profes-sionally and helping them

154、 achieve their goals,whether they are large mining companies or small and medium enter-prises.We focus on building long-term relationships,not short-term gains,because our sector,like mining,requires long-term planning.For example,we might work with a mining company for 10 years or engage with commu

155、nities near our facilities for 30 years.It is essential to approach these partnerships with a serious,long-term mindset,en-suring that both sides benefit over time within the mining industry.The National Mining Association(NMA)argues that the administrations approach compli-cates the permitting proc

156、ess,disregarding Congressional intent to streamline it.This creates uncertainty for mining projects that are critical for the clean energy transition,potentially resulting in longer review times and increased costs.“NEPA reforms are essential to ensuring that deci-sions are made transparently and wi

157、thin a reasonable time-frame,which is currently one of the biggest obstacles to advancing new mining projects,”said Rich Nolan,president and CEO of the NMA.Under the new administration,this will likely change,as President Trump supports reshoring domestic production in the quickest manner possible.N

158、o China,no transitionMining,however,is not the main problem.Metals and min-erals must be refined and processed to be used in clean energy technologies,and China alone refines 40%of the worlds nickel supply,50-70%of its lithium,65%of its cobalt,and nearly 90%of its rare earths,according to the IEA.Do

159、wnstream,China dominates manufacturing energy technology capacity and capability,with a 60%share in wind foundations and a 97%share in solar PV wafers,according to Wood Mackenzie.When it comes to lithium battery man-ufacturing:“Less than 1%of global cathode production ca-pacity is currently in North

160、 America.The four planned cath-ode plants will consume more lithium than all the proposed lithium refineries in the USA,”added Melsert of ABTC.For copper,the 2024 Mineral Commodity Summary shows Chinese copper mines produced 1.7 million t in 2023,an amount not significantly greater than the USs 1.1

161、million tons.However,China produced 12 million t of refined copper,while the US produced a balmy 0.89 mil-lion t.US$85 billion in new smelting and refining capability is needed to displace Chinese supply,according to Wood Mackenzie.“China controls over 60%of global production of critical metals like

162、 copper,steel,aluminum and rare earths.Chinas dominance in metal smelting and refining is due not only to its investment in mines worldwide but also to its ability to overcome environmental and economic hurdles,”highlight-ed Daniel Kappes,president and CEO of Kappes,Cassiday&Associates.The capital e

163、xpenditure required for the energy transition across power and renewables for Wood Mackenzies net zero case is US$78 trillion between 2024 and 2050.Ridding the market of Chinese manufactured clean tech products would add an extra US$6 trillion.The time is nowCritical mineral supply is concentrated i

164、n a smaller number of countries than for oil and natural gas.Supply chains for solar panels,wind turbines and batteries using imported ma-terials could quickly be affected by regulatory changes,trade restrictions,or political instability.Decarbonizing the electric-ity and transport sectors will incr

165、ease metal extraction over sevenfold by 2050 compared to 2015.Around 32-40%of this growth is expected in countries with weak resource gover-nance.The impending mining boom may result in severe environmental degradation and unequal economic benefits.With the highest environmental regulations globally

166、,the US has a distinct role to play in the worlds decarbonization.The US cannot do it alone.The path forward must be col-laborative,and we cannot wait.Damages from 2023s 376 climate disasters totaled US$92.9 billion,according to the National Oceanic and Atmospheric Administration.From 2014 to 2023 t

167、hat amount increases to US$1.2 trillion.This will only rise.While net zero may seem expensive,the price of not decarbonizing will be even greater.Source:International Energy Agencys World Energy OutlookSTEPS=Stated Policies ScenarioNZE=Net Zero 10 20 30 40 502020STEPS NZEHydrogenElectricityEVs andst

168、orageOther ren.and nuclearWindSolar PVBy sector2050Mtnetworks2020STEPSNZEOthersCobaltManganeseLithiumGraphiteNickelCopperBy mineral2050Mineral Requirements for Clean Energy Technologies17 INTERVIEWGBR SERIES|WESTERN USA MINING 2025EDITORIAL16 GBR SERIES|WESTERN USA MINING 2025What initiatives has th

169、e University of Arizona imple-mented to tackle the talent crisis,and what recent milestones have been achieved?The University of Arizona School of Mining&Mineral Re-sources(SMMR)is proactively addressing a significant tal-ent crisis stemming from a global decline in mining-relat-ed education.US enro

170、llment has dropped over 50%since 2015.And with digital transformation and increasing ex-pectations around environmental and social performance,preparing talent has become more complex.When it comes to attracting talent,a solution to the root of the problem must start early in the education system.Re

171、search revealed a critical lack of awareness about mining careers,highlighted by a survey showing that 60%of American science teachers felt unqualified to recommend mining.To combat this,SMMR launched a mining and minerals teachers academy for high school and middle school science teachers.After a s

172、uccessful pilot program funded by the Freeport-McMoRan Founda-tion,SMMR aims to train 100 teachers each year,each with the potential to impact thousands of students over their career.The new teachers academy is in addition to a well-established K-12 education outreach program funded by the Mining an

173、d Minerals Education Founda-tion,which reaches over 6,000 students and hundreds of teachers annually.At the university level,making mining education wide-ly available is a top priority.Two new general education courses on mining and minerals provide over 40,000 cu-rious undergraduates the opportunit

174、y to fulfil their gen-eral education requirements by studying mining related topics,including the relationship between minerals and sustainability and the impact of choices we make as con-sumers every day.In 2022,SMMR launched an interdisci-plinary minor in sustainable mineral resources,available to

175、 any major.The annual Mines for Limitless Minds ca-reer expo,now entering its third year,attracted over 800 students last year,with a goal of over 1,000 attendees this year,helping students explore diverse career opportuni-ties in mining.A new research innovation grants program encourages interdisci

176、plinary collaboration,inviting faculty from various disciplines to apply for seed grants for min-ing-related research,further engaging graduate students in the field.All these efforts serve to put mining in front of more students,and a more diverse range of students.Jodi BantaProgram ManagerTHE UNIV

177、ERSITY OF ARIZONA SCHOOL OF MINING&MINERAL RESOURCESA major challenge in recruiting talent for the mining industry is its low visibility,making it less attractive compared to more well-known fields.How have enrollment figures fluctuated at the Univer-sity of Arizonas mining engineering program?The U

178、niversity of Arizonas mining engineering program represents approximately 10%of all mining engineering students in the US at the bachelors level.Historically,the program maintained an enrollment of around 60.This,however,has become increasingly difficult.The latest data indicates that the university

179、 maintained steady enrollment in its mining engineering program at a time when enroll-ment figures nationally have declined 30%.What challenges does mining face in attracting talent and how can they be addressed?A major challenge in recruiting talent for the mining indus-try is its low visibility,ma

180、king it less attractive compared to more well-known fields.Its impossible to attract talent to an invisible industry.Many students lack familiarity with mining and struggle to envision a career in it.To overcome this,industry and academia need to collaborate on rais-ing the industrys profile,especia

181、lly emphasizing its role in green energy and national security.Bringing mining edu-cation into communities and classrooms and providing re-al-world examples can help generate interest and curiosity among young people.What were key findings from the SMMRs research on mining career perceptions?The SMM

182、R is currently conducting research to explore per-ceptions of mining education and careers among prospec-tive students,parents,teachers and counselors.This study aims to understand attitudes toward mining,the influence of parental guidance on students educational choices,and whether disinterest in m

183、ining careers arises from miscon-ceptions or lack of exposure to the industry.Initial findings indicate that while students recognize that mining occurs in Arizona,they have limited knowledge about the industry and its career opportunities.What are the SMMRs goals for 2025 and plans to en-hance outr

184、each?Key objectives include adding mining content to a wide range of courses each year and significantly increasing en-rollment in the Bachelor of Science in Mining Engineering program.The university will launch professional develop-ment courses focused on machine learning in mining.The Role of Univ

185、ersities in the Industrys FutureThe mining industry will add between 11,000 and 13,000 jobs annually for the next 20 years.Many of these will like-ly remain unfilled;in April 2023,the US mining sector had 36,000 job vacancies,up from 27,000 in 2022.International Council on Mining and Metals(ICMM)exe

186、cu-tives estimate more than half the mine workers in the US are aged 45 years or older.According to the Society for Mining,Metallurgy,and Exploration(SME),around 220,000 US min-ing workers are expected to retire by 2029,a mass exodus creating a substantial knowledge and skill gap and exacer-bating t

187、he talent drought.According to the ICMM,the global shift toward automa-tion and digitalization is adding to this challenge by demand-ing more specialized skills.New roles,such as data scientists,geospatial analysts,and artificial intelligence(AI)specialists,are becoming increasingly vital.Key enable

188、rs of the green energy transitionImage by jzehnder at Adobe StockM I N I N G.A R I Z O N A.E D UWere ReimaginingMINING&MINERALS EDUCATIONWere breaking through the traditional disciplinary silos in education to bring forward the next generation of mining professionals.2019 INTERVIEWGBR SERIES|WESTERN

189、 USA MINING 2025EDITORIAL18 GBR SERIES|WESTERN USA MINING 2025Unfortunately,the number of people entering the work-force will not be a rainstorm to fix the drought.US mining graduates declined by 39%between 2016 and 2022,accord-ing to the SME.There were only 600 mining engineering stu-dents enrolled

190、 across the US in 2022,a sharp decrease from 1,500 in 2015.According to the Center for Strategic and Internation-al Studies,university programs dedicated to creating this workforce are shrinking,with mining and mineral engineer-ing programs in the US dropping from 25 in 1982 to 15 in 2023.For compar

191、ison,China has over 38 mineral processing schools and 44 mining engineering programs.Chinas larg-est mineral processing program has 1,000 undergraduates and 500 graduate students alone to help accomplish Chinas mineral ambitions.The shortage presents an imminent challenge,said Charles Kocsis,departm

192、ent chair at the department of min-ing engineering at the University of Utah:“With a labor short-age looming,particularly as many in the industry are set to retire,this decline in enrollment could have serious impli-cations for the development of new mines and production output.An estimated 350 new

193、mines will need to be devel-oped over the next 20-30 years to meet the increasing global demand for critical minerals like copper,lithium,uranium,gold,silver,etc.”Metal ore output in the US has been declining at an aver-age rate of 2.7%annually from 2019 to 2023.Labor shortag-es are a likely factor,

194、reflected by the 7.3%annual growth in unit labor costs.To counter this,metal ore mining compa-nies increased hourly compensation by 6.2%per year from 2019 to 2023.This effort did not result in significant increas-es in employment,which rose 0.6%over the same period.These dynamics are concerning for

195、the industry.71%of mining leaders even say the talent shortage keeps them from delivering on production targets,according to McK-insey.Additionally,86%report finding it increasingly chal-lenging to recruit and retain talent,a significant issue as the green-energy transition drives up demand for mine

196、d met-als.This pressure is exacerbated by the US goal to increase domestic production and reduce reliance on talent-and re-source-rich China.Universities step inInstitutions like the Colorado School of Mines are using this urgency as an opportunity to attract new talent.“We recog-nize the challenges

197、 facing the industry and appeal to our stu-dents desire to solve global problems,particularly in areas like energy expansion,growing populations,and the need for more minerals.We highlight how important mining is to the worlds future and present it as an opportunity for them to make a meaningful imp

198、act,”said Bill Zisch,head of mining engineering at the school.This approach has yielded promising results,said School of Mines president Paul Johnson:“We piloted a new“Fu-tures”class where students tackle real-world issues like energy,water,and carbon.Through this,they discover the relevance of mini

199、ng in the larger context of energy and sus-tainability.This approach helps increase awareness of min-ing as a career option,not just for mining engineers,but also for students in other fields.”The School of Mines is onto something;86%of Gen Zs and 89%of millennials say having a sense of purpose is i

200、mport-ant to their overall job satisfaction and well-being and are increasingly willing to reject employers who do not align with their values,according to Deloittes 2024 Gen Z and Millen-nial Survey.Contributing to the worlds electrification to prevent one of the greatest mass extinctions in the pl

201、anets history,and maybe even our own,should be reason enough.Even still,70%of youth aged 15-30 say they“Definitely would not”(42%)or“Probably would not”(28%)work in mining,accord-ing to a survey cumulated by McKinsey.Why?A report published by the US Department of the Interior in 2023 cites the negat

202、ive public perception of the industry as a major obstacle.The invisibility cloakBut there is more to it.“It is impossible to attract talent to an invisible industry.Many students lack familiarity with mining and struggle to envision a career in it,”revealed Jodi Banta,program manager at the Universi

203、ty of Arizona School of Min-ing and Mineral Resources(SMMR).“Although the relationship between mined materials and technology is evident for those in the industry,many people do not realize that the devices they rely on daily are made from materials that originate from mines,”continued Kocsis.“Surve

204、ys at the University of Arizona reveal that many students top of mind association with mining is still coal”,added Banta,who also highlighted that“a recent study in Australia found that just under half of young people say they do not know there are career paths in the mining industry outside of doin

205、g the actual mining.”Changing the narrativeWhat is the solution?According to Johnson,early visibility,or making your company and employees known to students when they are freshmen,is one answer:“When students see someone just five or 10 years ahead in their career,some-one they can relate to,it beco

206、mes easier for them to envi-sion themselves in that career.The more visible companies are,the better chance they will attract talent.”Visibility efforts seem to be paying off,said Kocsis of the University of Utah:“In 2022,we had five,and last year we saw an increase to 15 incoming freshmen students.

207、In 2024,we welcomed 20 freshmen into the mining engineering pro-gram.This increase can be attributed to a team effort that included open houses,outreach to parents and high school students,and engagement with professionals”Starting even earlier is crucial to addressing the problem at its root.“Resea

208、rch revealed a critical lack of awareness about mining careers,highlighted by a survey showing that 60%of American science teachers felt unqualified to recommend mining.To combat this,SMMR launched a mining and min-erals teachers academy for high school and middle school science teachers.This is in

209、addition to our well-established K-12 education outreach program,which reaches over 6,000 students and hundreds of teachers annually,”shared Banta.Fortunately,social media has made the world more con-nected and visible than ever before,presenting a powerful tool the industry must leverage to drive c

210、hange.“This year,we are on track to receive over 20,000 employment applica-tions,a significant increase from last years 11,000,”started Keaton Turner,founder,president and CEO at Turner Mining Group.“This surge reflects our robust social media efforts to not only promote our brand but also highlight

211、 opportunities within the mining sector,particularly in the US,”he contin-ued.Action is neededThe Colorado School of Mines is the only US-based school in the 2024 QS World University Rankings of top 12 mineral and mineral engineering schools.Of the other 11,there are four in Australia and Canada and

212、 one in Russia,Chile and Saudi Arabia.In September 2023,the Senate Committee on Energy and Natural Resources introduced the Mining Schools Act of 2023,a bipartisan legislation allocating US$10 million per year,from 2024 to 2031,to a grant program for mining schools to recruit more students.Moves lik

213、e this are essen-tial if the US is to meet the rising demand for talent in the mining sector.The future of the mining industryand its role in the green energy transitionhinges on attracting and develop-ing skilled talent.Universities,industry leaders and policy-makers must collaborate to reshape per

214、ceptions,increase visibility,and build purpose-driven pathways that appeal to the next generation.1821 EDITORIALGBR SERIES|WESTERN USA MINING 202520 GBR SERIES|WESTERN USA MINING 2025Can you introduce the Mining Engineering Department of the University of Utah?Presently,we have about 45 undergraduat

215、e students and eight graduate students.We observed a decline in enroll-ment in mining engineering programs across the country,not just here in Utah,and we have been trying to under-stand the reasons for this decline.In 2021,we had four in-coming freshmen.In 2022,we had five,and last year we saw an i

216、ncrease to 15 incoming freshmen students.In 2024,we welcomed 20 freshmen into the mining engineering pro-gram.This increase can be attributed to a team effort that included open houses,outreach to parents and high school students,and engagement with professionals from compa-nies like Rio Tinto,Newmo

217、nt,Wolverine Fuels,who spoke directly to the students.We showcased emerging technolo-gies,such as a health&safety training program using virtual reality(VR)and augmented reality(AR),which piqued the interest of high school students.How have shifting demands changed the role of the uni-versity in the

218、 industry?The Western US is home to some of the largest and most productive mining operations,with states like Utah,Neva-da,Arizona,Wyoming and Montana making significant con-tributions to the extraction of precious metals and essen-tial minerals.With a labor shortage looming,particularly as many in

219、 the industry are set to retire,this decline in enroll-ment could have serious implications for the development of new mines and production output.An estimated 350 new mines will need to be developed over the next 20-30 years to meet the increasing global demand for critical minerals like copper,lit

220、hium,uranium,gold,silver,etc.The permit-ting process in the US will make it nearly impossible to meet that demand.Fortunately,advances in mining technology such as automation,remote sensing,and digitization can help increase productivity,reduce environmental impact and alleviate the effects of labor

221、 shortage.Can you discuss the immersive virtual reality training program for miners?I noticed that students in traditional training programs of-ten retain a portion of the information provided.To address this,we developed a new training program using virtual re-ality(VR)and augmented reality(AR)tech

222、nologies that im-merse miners in real-time in underground and surface op-Charles KocsisProfessor&Department Chair-Department of Mining EngineeringTHE UNIVERSITY OF UTAHOur focus is on advancing innovations in mine automation,efficient ventilation,mine design,and cooling systems to boost productivity

223、 and prioritize worker safety.erations.This immersive experience is designed to enhance information retention through interactive participation.We are collaborating with a Chilean virtual reality company Min-verso,and our students are involved in developing these training modules.In addition,mining

224、companies within the US have started to show interest in our VR initiatives.How does the university maintain its relationship with the domestic mining industry?We have a strong connection to the mining industry through our industry advisory board(IAB),which includes members from companies like Rio T

225、into,Newmont,Wolverine Fuels,and Caterpillar.We meet each semester to discuss our cur-riculum and research,ensuring that we are addressing rele-vant topics and challenges within the industry.Our students benefit from this relationship through internships and job placements,with nearly all undergradu

226、ate students receiv-ing full-time job offers upon graduation.Additionally,our faculty are engaged with industry projects,providing practi-cal insights that enhance the educational experience.Can you highlight specific research topics that demon-strate the departments focus?We are looking into soluti

227、ons to protect miners working in extreme conditions.For example,a Ph.D.student from my research team developed a device that is slightly larg-er than a cell phone,which can assess work comfort based on factors like body mass index,gender,age,clothing,and environmental conditions.This device warns mi

228、ners when they are at risk of heat stress,helping them take necessary breaks before experiencing heat-related illnesses.The same Ph.D.student built a set of powered safety glasses designed for emergency situations,allowing miners to see through smoke and providing navigational assistance during an e

229、mergency underground.These research initiatives show-case our commitment to advancing safety technologies in the mining industry,reflecting the innovative spirit of our students.What are the universitys goals for the next 24 months?Our focus is on advancing innovations in mine automation,efficient v

230、entilation,mine design,and cooling systems to boost productivity and prioritize worker safety while instill-ing traditional mining engineering principles that minimize environmental impact.Can you introduce the university and its role in the na-tional mining industry?PJ:Colorado School of Mines was

231、founded in 1874 to supply the region with mining engineers,metallurgists and miner-al processing experts,which was vital for economic growth at the time.We evolved into a full-service engineering uni-versity,supplying talent not only to the mining industry but also to aerospace,IT,civil infrastructu

232、re and energy sec-tors,all critical for Colorado and the nations economy.BZ:We have maintained strong ties with the industry since our beginnings.I have personally been on the Indus-try Advisory Committee at Mines for over 20 years,and we get input from a broad range of industry participants.At a re

233、cent career fair,over 400 companies attended,including more than 40 companies looking to hire mining and other engineering disciplines.One of our key focuses is to ensure we produce mining engineers who are well-equipped not just for todays challenges but for future demands.What enrollment figures h

234、as Mines experienced in re-cent years?BZ:We have seen a significant increase in our departments numbers,up more than 25%in 2023,bringing us to around 120 students.The mining industry needs all types of en-gineers,so we are reaching out to mechanical,electrical,environmental,and computer science stud

235、ents as well to introduce them to career opportunities in mining.Address-ing the industrys challenges requires a broad range of en-gineering talent.What approach does Mines take to ensure the next generation of mining engineers?PJ:Unlike other universities,we do not admit students into specific prog

236、rams.Instead,we bring in students interest-ed in being engineers,problem solvers,and innovators.From there,we help them find the best fit for their inter-ests.We piloted a new Futures class where students tackle real-world issues like energy,water,and carbon.Through this,they discover the relevance

237、of mining in the larger context of energy and sustainability.This approach helps increase awareness of mining as a career option,not just for mining engineers,but also for students in other fields.We emphasize professional development.When you com-bine that with their love for challenges,it becomes

238、easy to engage them in exploring mining as a career path.Paul Johnson and Bill ZischPJ:PresidentBZ:Head of Mining EngineeringCOLORADO SCHOOL OF MINESThe mining industry needs all types of engineers,so we are reaching out to mechanical,electrical,environmental,and computer science students as well to

239、 introduce them to career opportunities in mining.What do you think the industry overlooks when it comes to attracting talent?PJ:One thing that applies to any company is the im-portance of early visibility.We offer opportunities for companies to be visible on campus,like professional development wor

240、kshops,classroom participation,and involvement in future-focused classes.When students see someone just five or 10 years ahead in their career,someone they can relate to,it becomes easier for them to envision themselves in that career.The more visible companies are,the better chance they will attrac

241、t talent.What are current research initiatives at Mines?BZ:At our Edgar mine,we have seen increasing demand for its use as a subterranean laboratory.It offers unique opportunities for research that benefits from an under-ground environment.PJ:Future advances in mining will focus on efficiency,with A

242、I and automation playing key roles.This is critical for processes involving critical minerals,where ore con-centrations are small.We are also working on extracting materials from recycled sources.Research in geophysics and underground construction will improve precision in mineral extraction.What ar

243、e some key goals for the Mining Engineering program to remain number one?PJ:The aim is to grow the program while ensuring stu-dents are equipped for long-term success in the min-ing industry.We are integrating AI into the curriculum and emphasizing that future engineers need more than just technical

244、 skills.We are adding business acumen to the programs and giving entrepreneurial and innova-tion-minded students more opportunities,like industry innovation challenges.We have also doubled down on hands-on experiences.BZ:Our initial focus is increasing enrollment,but we are also expanding research a

245、nd the application of evolving technologies and strengthening industry rela-tions.We are introducing new course requirements fo-cused on waste,water and closure management and on community engagement and sustainability as we contin-ue to prepare our graduates for some of the industrys challenges tod

246、ay and in the future.BZPJ22 23 INTERVIEWINTERVIEWGBR SERIES|WESTERN USA MINING 2025GBR SERIES|WESTERN USA MINING 2025PRODUCTION AND DEVELOPMENTJoshua OlmstedPresident and COO FREEPORT-MCMORAN AMERICASGBR Series WESTERN USA MINING 2025Image courtesy of Rio Tinto KennecottWe must not only achieve the

247、productivities and efficiencies we reached in the past but do even better.To do this,we must innovate and rethink our approach to mining.Precious Metals Production and DevelopmentThe United States role in the precious metals space remains golden.The country houses the largest gold producing com-plex

248、 in the world at Nevada Gold Mines and ranks fifth in gold production volume.In 2023,the country produced 170 metric tons,according to the USGS.For silver,the country ranked ninth globally in 2023 and produced 1,000 t of the metal,according to the USGS.Silver was produced at only four primary silver

249、 mines,and as a byproduct of 31 others.Gold production and developmentRare is the day over recent months when headlines do not read“gold price reaches record high.”2024 will be remem-bered as a golden year,as the yellow metal grew 35.1%in dollar value YTD,outperforming most asset classes.Gold has lo

250、ng been a haven asset,with 2024 feeding into this role,highlighted Jason Kosec,president and CEO of Integra Resources:“The ongoing bull run in gold prices,driven by factors such as massive Western debt and de-dollarization narratives,reflects its importance as a haven amid global uncertainties,inclu

251、ding wars and climate crises.”The yellow metal bull run does not seem like it will back down.The Congressional Budget Office estimates US debt held by the public as a share of GDP will reach the high-est level on record by 2029,increasing further to 180.6%as a share of GDP in 2053.High interest rate

252、s and infla-tion further support golds rise.Central banks align with a global dedollarization trend;gold holdings are at 10%,up from 3%a decade ago.President Donald Trump and other advanced economies are prioritizing fiscal expansion,as spending commitments are forecasted to rise and as coun-tries a

253、dapt to and tackle climate change along with oth-er factors.This environment solidifies golds position as a haven asset.Bank of America forecasted gold could reach levels of US$3,000/oz as early as 2025.Although the high gold price presents opportunity,pro-ducers must continue to be disciplined,unde

254、rscored Henri Gonin,managing director of Nevada Gold Mines(NGM),the joint venture between the worlds top two gold pro-ducing companies,Barrick and Newmont:“The challenge is how we react to these increased prices.Operations that previously did not meet our financial thresholds now ap-pear more attrac

255、tive,but chasing every ounce can drive up costs.Sustainable growth requires balancing short-term gains with a focus on maintaining efficiency and profitabil-ity over time.”For NGM,sustainable growth comes in the form of ramped up production at Goldrush,which came online in April 2024,and exploration

256、 at the Greater Leeville and Producers poised for growth amid market shiftsImage courtesy of Rio Tinto KennecottWhat milestones did Nevada Gold Mines(NGM)recently achieve?At the Carlin complex,the Gold Quar-ry roaster underwent a significant ex-pansion,increasing throughput by ap-proximately 20%.Thi

257、s enhancement is expected to improve cost efficiency and boost gold production.We commenced the deployment of 62 Komatsu 930E-5 haul trucks.These trucks are being integrated into our Cortez and Carlin operations,with 23 already operational at Cortez and 20 commissioned at Carlin.Safety remains a cor

258、e value,and we are advancing our“Journey to Zero”program,aiming to foster a culture of safety where everyone feels account-able.We saw continuous improvement in our safety performance metrics and introduced a fatal risk program to train employees to identify and manage crit-ical risks.In December 20

259、23,we received the Record of Decision for the Goldrush project,enabling us to proceed with mine expansion and address ventila-tion bottlenecks.With over 75%of the first ventilation shaft work complete,we anticipate a significant production ramp-up as we approach full opera-tions by 2025-2026.How did

260、 NGM address recent opera-tional challenges to meet future pro-duction goals?In 2024,Turquoise Ridge faced infra-structure challenges that impacted ag-gregate movement,along with electri-cal and pumping failures that hindered dewatering efforts,affecting produc-Henri GoninManaging DirectorNEVADA GOL

261、D MINES(NGM)What is NGMs commitment to the environment?We commissioned the first and second phases of our solar initiative,resulting in 200 MW of capacity.Solar power contributes approximately 17%of our total power requirement.This initiative allows us to eliminate about 235,000 tons of CO2.We are c

262、onverting the TS power plant from coal-fired to gas-fired.We transitioned our fleet of light vehicles,including pickup trucks,from petrol to electric.How does NGM balance opportunity and long-term profitability with ele-vated gold prices?While higher gold prices boost our rev-enues,we must remain di

263、sciplined in our response.The challenge is how we react to these increased prices.Opera-tions that previously did not meet our financial thresholds now appear more attractive,but chasing every ounce can drive up costs.There are valid reasons we avoided certain areas at lower pric-es,and we must be c

264、autious not to pursue opportunities without weigh-ing the long-term impact.Sustainable growth requires balancing short-term gains with a focus on maintaining effi-ciency and profitability over time.What initiatives has NGM imple-mented to address workforce chal-lenges?We prioritize the development o

265、f our people.To elevate trade skills beyond traditional training,we launched our Training Mine program.We are in-troducing the Barrick Academy in the US,designed to enhance business acumen and financial management for engineers,geologists,supervi-sors,and other professionals.We are committed to offe

266、ring diverse growth opportunities,including rotational assignments that provide exposure to different areas of our operations.We believe this holistic approach fos-ters job satisfaction and strengthens employee retention.What is your outlook for coming years?We are focused on maximizing our margins

267、at the optimal production point.This effort includes reinvest-ing in our open pit fleets to maintain profitability and supplement our un-derground production,which has become the backbone of our life-of-mine production profile.We are posi-tioning ourselves for success through critical investments.Wh

268、ile higher gold prices boost our revenues,we must remain disciplined in our response.tion.Recognizing that large-scale cap-ital projects require time for effective execution,we are committed to refur-bishment initiatives over the coming years to optimize operations.Despite these hurdles,NGM main-tai

269、ned consistent performance in 2023.Notably,the Goldrush Underground project is projected to produce approx-imately 130,000 oz of gold in 2024,aim-ing for commercial production in 2026 and an increase to about 400,000 oz/y by 2028.How will NGM ensure sustainable re-serves and prevent depletion of ex-

270、isting resources?Wholly owned by Barrick,the Fourmile project is situated north of the Goldrush development.Intensive drilling and testing identified four primary zones within the deposit,revealing high-grade mineralization that positions Fourmile is a potential Tier One mine,with pro-duction estima

271、tes exceeding 500,000 oz/y over more than two decades.The Greater Leeville project demon-strated significant potential to expand mineralization.Ongoing exploration aims to convert these findings into re-serves,extending the Carlin complexs life beyond 2045.Located immediately north of Cortez,the Rob

272、ertson project is undergoing evaluation,with a Record of Decision pending for its open-pit mine develop-ment.Full-scale pilot testing on three small pits is anticipated to commence around 2026.Its proximity to existing operations will allow for integrated planning and equipment sharing.29:USAUwww.us

273、goldcorp.goldOn track to be the next 100,000+oz/yr.Gold-Copper ProducerCombining Near-Term Production Potential with District-Scale Exploration in Mining-Friendly U.S.JurisdictionsIdahoWyomingNevada27 INTERVIEWGBR SERIES|WESTERN USA MINING 2025EDITORIAL26 GBR SERIES|WESTERN USA MINING 2025What were

274、recent operational milestones?In 2023,we produced 317,000 oz of gold and 10.3 million oz of silver.For 2024,our gold production guidance range is 310,000-355,000 oz.We expect double digit increases for silver,primarily due to Rochesters expansion,projected to be between 10.7 million-13.3 million oz.

275、The key operational milestone was the completion of our Rochester expansion.We completed the construction of a new processing facility and a new heap leach pad.In March 2024,we completed the new crusher.We ramped up this crusher to its annual run rate of about 32 million t/y at the end of the second

276、 quarter of 2024.Our unsung hero is our Wharf gold mine in South Dako-ta.We acquired this gold open-pit heap leach operation in 2015.Today,Wharf has generated US$400 million in free cash flow and has a seven-year mine life based on current gold reserves,with potential for further extension with in-c

277、remental exploration investment.In 2023,it delivered re-cord free cash flow,which helped to fund the Rochester expansion.In Mexico,our Palmarejo gold and silver mine in Chihuahua is expected to benefit from the recent con-solidation of key land parcels located to the east of the op-eration,which wer

278、e acquired from Fresnillo.This consoli-dation opens multiple new opportunities for Palmarejo.In Alaska,our Kensington gold mine faced a limited reserve mine life of less than two years about two years ago.We implemented a multi-year development and drilling pro-gram to extend its mine life.For the s

279、econd consecutive year,we replaced more than what we mined in 2023.What are the strategic and financial benefits of the Rochester expansion?Rochester is now one of the worlds largest open pit heap leach operations,and the largest source of domestically produced and refined silver in the USA.The expa

280、nsion was a US$730 million investment.Rochesters silver pro-duction will increase from approximately 3 million oz/y to roughly 7-8 million oz/y and gold production from approx-imately 30-35,000 oz/y to 70-80,000 oz/y.With throughput 2.5 times larger than before,costs will decline significant-ly,and

281、cash flow will increase.At current prices,Roches-ter should generate around US$100 million a year in free cash flow,pushing the company back into a positive cash flow position.Mitchell KrebsPresident and CEOCOEUR MININGRochester is now one of the worlds largest open pit heap leach operations,and the

282、 largest source of domestically produced and refined silver in the USA.How has Coeur Minings exploration investment strat-egy evolved?Over the last five years,we invested around US$250 mil-lion in exploration,boosting our reserves by 35%and increasing resources by 45%on a gold equivalent basis.This

283、investment has extended mine lives across our op-erations,except Kensington,where we expect to show a sizeable mine life increase by the end of this year.We expect Kensington to return to positive cash flow in the second half of 2025.In 2024,we will allocate approximately US$55 million to exploratio

284、n.Exploration will remain a key focus,funded by the positive cash flow generated from our recent in-vestments.What are the market dynamics supporting high silver and gold prices?Demand for silver is growing driven particularly by pho-tovoltaics.2023 saw nearly 500 gigawatts of new pho-tovoltaic inst

285、allations globally,and experts predict this could exceed a billion gigawatts every year by 2030.Each gigawatt requires nearly 500,000 oz of silver,which could result in more demand for silver than total global annual supply.Silver is also essential in electric vehicles circuitry.This extends to char

286、ging stations and other infrastructure supporting EVs.Gold benefits from the global de-dollarization trend.Central banks are diversifying away from the US dollar,boosting gold demand.How does Coeur view ESG?We focus on emissions,water,tailings impoundments,in-creasing our use of renewable power sour

287、ces,safety,and long-standing community relationships.Our governance is top-rated,reflecting our commitment as a company list-ed on the NYSE.In 2023,we were the safest metals min-ing company in America.We are implementing the global tailings standard and tied a significant portion of our ex-ecutive i

288、ncentive compensation to a three-year emissions reduction target,aiming for a 35%reduction in carbon in-tensity by the end of 2024.We are on track to achieve this goal.We introduced a biodiversity standard last year and have also implemented innovative sage grouse conserva-tion programs in Nevada.26

289、Robertson areas.The Fourmile project,wholly owned by Barrick,will add to NGMs Cortez complexs growth.“In-tensive drilling and testing identified four primary zones within the deposit,revealing high-grade mineralization that positions Fourmile as a potential Tier One mine,with production estimates ex

290、ceeding 500,000 oz/y over more than two decades,”continued Gonin.The path to successful production in the gold sector re-quires navigating high barriers to entry,adapting to shift-ing economic trends,and anticipating the evolving pricing dynamics that increasingly reflect global,rather than West-ern

291、,market forces.Benefitting from the current cost envi-ronment required a long-term view,reflected John Swal-low,president and CEO of Idaho Strategic Resources:“We considered global trends like deglobalization,de-dollariza-tion and interest rate cycles when building our company with the idea that goo

292、d companies are built during tough times.With our workforce in place,land secured,and ex-ploration and production ramping up,we are in a strong position.”Gold dynamics create an environment ripe for M&A,en-abling Toronto-based firms Andean Precious Metals and Minera Alamos to diversify into the US,a

293、cquiring Golden Queen Mining and Sabre Gold respectively.Alberto Mo-rales,founder,executive chairman and CEO of Andean Precious Metals,explained:“As interest rates decline,in-terest in riskier assets,including precious metals,is likely to increase.A disconnect exists between the value of min-ing com

294、panies equities and the rising spot prices of com-modities,creating opportunities for companies like Ande-an to acquire undervalued producing assets.”For junior companies,on the other hand,mergers can be used as a hedge against difficult capital markets,said Kosec of Integra,that merged with Florida

295、 Canyon Gold in July:“The merger will reduce our reliance on frequent capi-tal raises,as the cash flow from Florida Canyon is expected to support costs for our key development stage projects DeLamar and Nevada North.”However,the industry continues to extract without re-placing reserves.In an intervi

296、ew with the Northern Miner,Mark Bristow,CEO of Barrick gold,emphasized how the industry must“reinvest in its own future,not just rely on M&A.”One such investment includes U.S.Gold Corps CK gold project in Wyoming,where construction is set to begin in 2025.The firms CEO George Bee said:“Our permitted

297、 status positions us favorably to capitalize on these market conditions,particularly as gold producers struggle to main-tain production levels amidst increas-ing all-in sustaining costs from older producing assets.”As gold continues its strong performance amid global economic shifts,silver also find

298、s itself in a unique posi-tion.While gold is traditionally viewed as a haven asset,silvers dual role as both a precious metal and a key in-dustrial component is driving new opportunities in pro-duction.29 EDITORIALGBR SERIES|WESTERN USA MINING 202528 INTERVIEWGBR SERIES|WESTERN USA MINING 2025How wo

299、uld you assess the performance of Heclas key assets?Our cornerstone assets,Greens Creek and Lucky Friday,continue to deliver.In 2023,Greens Creek produced 9.7 million oz of silver and generated US$122 million in free cash flow.In 2024,we project production between 8.8-9.2 mil-lion oz.Lucky Friday,ou

300、r second key mine,faced challenges in 2023 due to a fire that halted production for six months.Despite this setback,we resumed pro-duction in January,ramped up to full production in the first quarter of 2024,and by the end of the second quarter,we produced 2.4 million oz,positioning us to reach our

301、5-million-oz target for the year.Our newest mine,Keno Hill in the Yukon,exceeded expectations,with a total of 1.5 million oz in the first half of 2024.At Casa Berardi,our gold mine in Qubec,we produced 45,191 oz in the first half of 2024.The mine is currently undergoing a transition to complete surf

302、ace operations.What is Heclas exploration strategy?At Greens Creek,we are focused on expanding and converting resources to upgrade multiple ore zones.Keno Hill has a reserve life of 11 years and,our exploration efforts are showing great promise,particularly in the Birmingham and Flame&Moth areas.The

303、 underground drilling continues to intersect high-grade silver mineralization,reinforcing our belief in the districts potential.Lucky Friday has a reserve life of 19 years.We allocated fewer exploration dollars here but continue to evaluate the potential on the east side of the 30 Vein,where most of

304、 our resources are located.We are currently awaiting approval for our plan of operations for our Mon-tana assets.Once approved,we can begin dewatering the drift and proceed with the necessary exploration drilling.Catherine BoggsChairpersonHECLA MININGSilver productionThe silver market,like gold,is p

305、oised for a sustained bull run.Silver is uniquely positioned as both a precious metal and an industrial component,making it an attractive asset in todays economic environment,especially given its criti-cal role in green technologies.The Silver Institute estimates that silver demand in the pho-tovolt

306、aic industry alone will exceed 140 million oz/y by 2030.“2023 saw nearly 500 gigawatts(GW)of new photovoltaic installations globally,and experts predict this will increase.Each GW requires nearly 500,000 oz of silver,which could re-sult in more demand for silver than total global annual sup-ply,”sai

307、d Mitchell Krebs,president and CEO of Coeur Mining.2024s US$1.7 billion acquisition of SilverCrest Metals will help Coeur Mining fill the worlds supply gap.“The addition of SilverCrests high-grade Las Chispas silver operation po-sitions Coeur as a global leader in the silver industry,with peer leadi

308、ng expected production of over 21 million ounc-es of silver”,highlighted Krebs.This production will complement production from Coeurs expanded Rochester operation.“We expect dou-ble digit increases for silver,primarily due to Rochesters expansion.For 2024,silver production is projected to be between

309、 10.7 million and 13.3 million oz,”Krebs added.Polymetallic ore deposits account for more than two-thirds of US and world resources of silver,according to the USGS.As such,the importance of verified sources of silver increases.“It is not easy to findoften only as a byprod-uct in certain locationsand

310、 its rarity is becoming more apparent.Now is the time to recognize the importance of silver and prioritize its discovery and development,”said Catherine Boggs,Chairperson of Hecla Mining Company.Hecla Mining named Rob Krcmarov as CEO,effective No-vember 2024.The firms flagship asset,Greens Creek in

311、Alaska,pro-duced between 8.8-9.2 million oz in 2024.“The firm is fo-cused on expanding and converting resources to upgrade multiple ore zones.When Greens Creek began operations in 1989,it had a seven-year reserve life.Now,the mine boasts a 13-year reserve life.This achievement is a testa-ment to the

312、 success of our exploration teams in continu-ously converting resources into reserves,”said Boggs.As high gold prices present opportunities,American pro-ducers are careful to maintain sustainable growth,priori-tizing operational efficiency over short-term gains.Silvers dual demand in both industry a

313、nd investment strengthens its role as a critical asset in a world increasingly driven by clean energy needs.Whether through exploration,expan-sion or strategic acquisitions,the industry is preparing for a sustained bull market in precious metals.This disciplined approach,focused on both production a

314、nd reserve sus-tainability,ensures the US remains resilient in the face of global market fluctuations,supporting its role in the future of precious metals production.JasonKosecPresident and CEOINTEGRA RESOURCESAlberto MoralesFounder,Executive Chairman and CEOANDEAN PRECIOUS METALS How will the acqui

315、sition of the Florida Canyon mine im-pact Integra Resources?The acquisition of the Florida Canyon mine transforms In-tegra Resources from devel-oper to producer status.The cash flow from Florida Canyon is expected to support de-velopment costs for our key development stage projects DeLamar and Nevad

316、a North,and is expected to boost our valuation and reduce the com-panys cost of capital.Florida Canyon has a seven-year mine life with steady production of around 70,000 oz/y.With DeLa-mar and Nevada North coming online in later years,we antic-ipate steady state production exceeding 200,000 oz/y.Thi

317、s growth will move Integra from a junior to an intermediate producer.Can you provide highlights from your completed drill program at DeLamar?We inherited around 60 million t of stockpiled material from Kinross.Our team identified and drilled these areas,result-ing in an updated resource of 42.5 mill

318、ion t of M&I material that will be incorporated into the updated mine plan in the FS.The PFS included 81 million t for heap leaching.How will the firm benefit from the Golden Queen mine acquisition?With Golden Queen,we now have a presence in the US and diversified our jurisdiction and revenue stream

319、sapproxi-mately 50/50 between Bolivia and the USA.This acquisition allowed us to more than dou-ble our revenues,while EBIT-DA grew from US$3.7 million to US$24.5 million during the same period.We are updating the geological model and in-vesting in exploration and drill-ing to extend the mines life.O

320、n the plant side,we are improving the crushing process,increas-ing cyanide use in leaching,and reducing water consumption among other measures.What is driving acquisitions in the gold space?A disconnect exists between the value of mining companies eq-uities and the rising spot prices of commodities,

321、creating op-portunities for companies like Andean to acquire undervalued producing assets.Focusing on these assets will enable us to evolve from a non-traditional mining company focused on processing to a more conven-tional mining company with our own resources and develop-ment assets.Can you provid

322、e recent production high-lights?TS:We remain Idahos largest primary gold producer,with revenue up by about 50%in 2024.The gold head grade at our mill has improved by 40-50%,putting us on track to produce 10,000-15,000 oz of gold in 2024.We currently have three drills operating at the Golden Chest mi

323、ne.Our entire land package spans over 7,000 acres,offering significant exploration potential.As a part of our plans to increase production,we are constructing a paste backfill plant at the Golden Chest mine,a key first step towards building a larger mill on-site.JS:We have grown 30-50%annually,and s

324、ee the potential to continue this growth ahead of us.We did the heavy lifting and are now a profitable gold producer.How is Idaho Strategic advancing its rare earth element(REE)deposits?TS:We are the largest REE landholder in the US,with three top-ranked projects in the Idaho Rare Earth Element Thor

325、ium Belt.We conducted extensive surface sampling and are collaborat-ing with national labs to study mineralogy and develop processing methods to advance our REE ores into future metals and magnets.Sam-ples from our Mineral Hill property contain up to 34%total rare earth oxides,among the highest in t

326、he world.John Swallow and Travis SwallowJS:President and CEOTS:Stakeholder&Corporate DevelopmentIDAHO STRATEGIC RESOURCESTSJS31 INTERVIEWGBR SERIES|WESTERN USA MINING 2025EDITORIAL30 GBR SERIES|WESTERN USA MINING 2025What were key milestones for the CK gold project in 2023 and 2024?In 2012,previous

327、owners completed a PEA revealing 1 mil-lion oz of gold and 250 million lb of copper in an open-pit scenario.We rebranded it to highlight its gold value,which represents 70-80%of the projects worth.Our first step in-volved hiring a local Wyoming environmental consulting firm to perform extensive base

328、line studies and prepare our permit application for submission to the Wyoming Depart-ment of Environmental Quality.We finalized two years of environmental baseline work by September 2022 and sub-mitted our permit application.We received our conditional mine operating permit in May 2024.Conditions in

329、cluded re-quirements for obtaining a water discharge permit,posting a bond for initial disturbance,and applying for an air quality permit.All conditions have been met with the final air quali-ty permit about to be announced in November.What is the geological and economic viability of the CK gold pro

330、ject?The CK gold project is situated in a granodiorite-hosted shear zone characterized by copper and gold mineraliza-tion,primarily in chalcopyrite,outcropping at surface.The site is within a mining area known as the Silver Crown Min-ing District which has a history of high-grade deposits ex-ploited

331、 by miners as far back as the late 1800s and conclud-ing in the 1920s.Our initial 10-year mine plan is designed to evolve as we explore and continue into known deeper min-eralization.Economically,the project targets nearly 110,000 oz/y AuEq over an initial 10-year mine-life with a front-end loaded s

332、tructure that promises a rapid payback period.We estimate our all-in sustaining costs will rise from US$900-US$1,000/oz,while the initial capital costs are expected at approximately US$300 million.How are the dynamics of the gold and copper markets impacting junior mining companies?The investment la

333、ndscape for gold and copper mining has been challenged by competition for capital from sectors like cryptocurrencies and cannabis,leading to reduced funding for exploration.Major mining companies are currently fo-cusing on shareholder returns rather than exploring new projects.Major and mid-tier companies often rely on juniors for discoveries and risk mitigation.We are observing a surge in explora