South32 hopeful as Trump administration could revive Alaska mining project
The Australian mining company South32 Ltd. is optimistic that the new administration under Donald Trump will grant access to the copper-rich region in northwestern Alaska, where it holds exploitation rights. A decision from the Department of the Interior halted operations.
The approval of the industrial road to the Ambler Mining District in Alaska, halted by the Biden administration and a source of controversy, was initially given by Donald Trump. Approval would allow the Australian mining company South32, alongside Trilogy Metals Inc., to extract high-quality copper, Bloomberg reports.
The mining conglomerate hopes the new president will follow through on campaign promises to allow operations in this area. Bloomberg notes that the declaration for immediate approval was included in the documents of the so-called Project 2025, which outlines Trump's vision for a second term and was showcased during the campaign.
It's important to note that the U.S. Department of the Interior blocked the proposal for the construction of a 211-mile road, citing the need to protect 69 million acres of federal lands from mining activities.
According to South32's CEO, Graham Kerr, discovering a new, large deposit could be exceptionally significant for the industry. However, Bloomberg noted that he acknowledged that conducting exploration is challenging due to seasonal constraints.
As stated on the mining company's website, South32 holds a 50% stake in the Ambler Metals joint venture with Trilogy Metals, headquartered in Vancouver. The venture owns the Upper Kobuk Mineral Projects in the Ambler Mining District in northwestern Alaska.
The formation of the joint venture followed a three-year exploration partnership with Trilogy Metals, focusing on the Arctic polymetallic deposit, the Bornite copper deposit, and regional exploration prospects.
