The True North Project is located 25 miles northeast
of Fairbanks, on the northwest flank of Pedro Dome and approximately
11 miles from the existing Ft. Knox Mine. Fairbanks Gold Mining Incorporated
(FGMI), a wholly owned subsidiary of Kinross Gold Corporation, owns
100% of the True North Venture. The True North Project operator is
FGMI.
On December 20, 2000, DNR issued
authorizations to FGMI to develop the True North Project by opening
two surface mine pits (Hindenburg and East Pits). FGMI’s authorized
operations include development rock dumps, an ore stockpile,
growth medium stockpiles, ore haulage, a shop/office complex,
power and water supply, and the necessary general infrastructure
including mine and exploration roads. Ore from the True North
Project is hauled via an access/haul road (that is the subject
of a separate authorization) connecting the True North Project
to the existing Ft. Knox facility for processing.
FGMI began work on the new haul road and the
mine pits immediately after the project authorizations were issued
and the appeal period had ended. The first ore was hauled to the
Fort Knox Mill on March 31, 2001.
On July 12, 2002, DNR issued authorizations for
an expansion to the True North Project. The expansion allows FGMI
to mine additional reserves identified during its 2001 exploration
activities. By mining these additional reserves, FGMI will create
three new pits: the Central, Shepard, and Zeppelin pits. As a result
of this pit expansion, up to an additional 7.4 million tons of ore
will be mined from the True North Mine, and will be trucked via the
existing haul road to the Fort Knox Mill for processing. As in the
originally authorized mine plan, no processing of ore will take place
at the True North site. The proposed expansion will lengthen the
life of the True North Mine by about 1.5 to 2 years, with mining
activity continuing into 2004.
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