New Amalga Gold Project Near Juneau Targets $1 Billion Value with 277 Jobs
The New Amalga Gold Project aims for a pre-tax net present value nearing $1 billion and the creation of 277 jobs over seven years. The project's low-impact design includes transporting ore for processing in British Columbia, minimizing environmental footprint.
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Grande Portage Resources Ltd. is developing the New Amalga Gold Project, expected to generate 277 jobs and a pre-tax net present value of nearly $1 billion over seven years. The site, north of Juneau, will transport ore via truck to Cascade Point for shipment to British Columbia for processing.
A preliminary economic assessment anticipates shipping 1.05 million ounces of gold, with indications of a 2 million-ounce resource. The company plans to invest over $500 million, including $254.8 million before production starts.
Potential tax contributions are estimated at $340 million, alongside $134 million in royalties. However, project timelines are contingent on state approvals and permitting processes, with infrastructure development facing delays due to U.S. Army Corps of Engineers requirements.
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