Alaska Trends
“When you look at the demand-supply fundamentals associated with copper,” begins Trilogy Metals President and CEO Tony Giardini during a Q&A with Alaska Business, “the world’s going to need a lot more copper in the future. If you look at the electrification of the grid, if you look at infrastructure spending, if you look at electric vehicles—all of those things are going to require more copper.”
And copper is just one of the many precious metals and minerals extracted by companies operating in Alaska’s mining industry. Often lumped in with oil and gas, mining is a powerhouse in its own right—the industry accounted for more than $1.7 billion in export value in 2018 alone, accounting for more than 35 percent of the state’s export total. This month’s installment of Alaska Trends digs up a few of the statistics produced by this industry—and explores the different projects around the state.
Source: Alaska Miners Association, The Economic Benefits of Alaska’s Mining Industry, February 2020.
Year-Round Jobs
for residents of more than 60 communities throughout Alaska, half of which are found in rural Alaska where few other jobs are available.
Jobs by Mine
Individual Revenue
$112,800
is the estimated average annual wage within the mining industry. TWICE the state average—for all sectors of the economy.
$740 million
was paid in direct and indirect payroll.
9,400 Jobs
directly and indirectly attributed to Alaska mining industry.
State Revenue
$112 Million
provided to state government in licenses, royalties, rents, fees, taxes, and other government-related revenues.
$1.7 Billion
total export value in 2018.
36%
of Alaska’s total exports in 2018.
Local Revenue
$37 Million
provided in local government revenue.
$1.8 Million amount Greens Creek paid in property tax.
$1.3 Million amount Kensington paid in property tax.
$3.8 Billion
spent on exploration since 1981.
$162 Million
spent on exploration in 2019.
$225 Million
spent on construction and capital investment in 2019.
$6.9 Million
paid in corporate income tax collections, representing 6% of the State’s non-petroleum industry corporate tax receipts.