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Industry increases.

Industry Increases. At $534 million, Alaska's mineral production in 1990 nearly doubled that of 1989's $277 million, according to a preliminary summary of the state's 1990 mineral industry report, released by the departments of Natural Resources and of Commerce and Economic Development. The value of gold production, at $89 million, remained fairly constant in 1990.

Glenn Olds, Alaska's commerce and economic development commissioner, notes that for the first time in decades, the production value from Alaska's precious metals (gold, silver, platinum) has been exceeded by production value from major metal mines, such as Red Dog and Greens Creek.

"Increased exploration expenditures in 1990 signal continued confidence in Alaska's mineral potential by the industry, and can be expected to result in mineral production in the future," Olds says.

The state's mineral industry report indicates that in 1990, mineral exploration expenditures were $56.9 million, a 19 percent increase from $47.0 million in 1989. Gold exploration accounted for about 90 percent, or $52 million, of those expenditures. Also, the mineral industry provided an estimated 7,000 jobs in Alaska during 1990, with 3,870 people directly employed by the industry.
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Title Annotation:Alaskan Business Briefs; Alaska's mineral industries show increased production in 1990
Publication:Alaska Business Monthly
Date:May 1, 1991
Previous Article:Revenues rose.
Next Article:Fairbanks Sears slated.

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