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Mining: production climbs.

MINING Production Climbs

Production Climbs. Comparing 1989 spending with 1988 expenditures, the value of mineral production, exploration and development in Alaska in 1989 decreased about 14 percent to $472.5 million, while the value of mineral production alone increased 27 percent to $294.9 million. The changes reflect completion of the development phases of the Greens Creek and Red Dog mine projects.

Summary of Alaska's Mineral Industry in 1989, prepared by the Alaska departments of Commerce and Economic Development and Natural Resources, notes the state's hard-rock mining and mineral-exploration sectors grew last year. Gold continued to be the most valuable mineral commodity, accounting for 39 percent of Alaska's mineral revenues in 1989. Gold production of about 297,000 ounces worth $113 million was the highest since 1942 and represents a volume increase of 12 percent over 1988 production, according to the study.
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Title Annotation:Alaska Business Briefs
Publication:Alaska Business Monthly
Date:Jun 1, 1990
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