Company shifts to develop Ambler mining prospect in Alaska

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ANCHORAGE, Alaska (AP) - The company that has led exploration in the Ambler mining district is shifting to develop its primary prospect after many years of work.

The Alaska Journal of Commerce reports that Trilogy Metals on Feb. 20 released a pre-feasibility study for its project at the Arctic prospect in Northwest Alaska.

The study detailed a higher initial capital estimates cost but a lower overall cost.

Estimated costs to develop Arctic have grown 9 percent since a 2013 preliminary economic assessment and are now pegged at $780 million. However, a 60 percent drop in expected annual operating and 20 percent decrease in closure and reclamation costs - to about $65 million each - cut the all-in cost for the mine by 5.5 percent from $964 million in 2013 to $911 million today.