The proposed Tetlin mine would be among the highest grade open pit gold mines in the world, if not the highest, according to Rick Van Nieuwenhuyse, the geologist and mine promoter who sold the idea to Kinross of trucking the ore nearly 250 miles across Interior Alaska to Fort Knox.
The ore is now expected to produce twice as much gold per ton as estimated in 2018 when a study said the capital costs of building mine processing facilities at Tetlin could be recovered in two years of mining. The after-tax internal rate of return was estimated at 29 percent with a grade of 4 grams per ton. Now the grade is expected to be 8 grams per ton.
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