Benefits

Livengood Project Benefits - Jobs for a Generation

Mining has been part of Alaska's economy and culture for over 125 years since the gold rushes brought prospectors to the untamed wilds of the last frontier. Today, mining directly and indirectly employs thousands of Alaskans across the state and is a growing force in the State's economy -- providing jobs for thousands of Alaskans and millions of dollars in personal income. While in its early stages, the Livengood Gold Project is clearly significant in the dollars, jobs and overall economic activity it could generate. In an effort to gain a perspective of the Project's potential, we have included some general information on the Alaska mining industry.

Livengood Project Benefits - Jobs for a Generation

Mining has been part of Alaska's economy and culture for over 125 years since the gold rushes brought prospectors to the untamed wilds of the last frontier. Today, mining directly and indirectly employs thousands of Alaskans across the state and is a growing force in the State's economy -- providing jobs for thousands of Alaskans and millions of dollars in personal income. While in its early stages, the Livengood Gold Project is clearly significant in the dollars, jobs and overall economic activity it will generate. In an effort to gain a perspective of the Project's potential, we have included some general information on the mining industry and some preliminary Project estimates.

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Mining Industry Economic Impact
*McDowell Group  “Economic Impact of Alaska's Mining Industry” -  January 2012 for the Alaska Miner's Association.

In 2011, Alaska's mining industry provided*:

  • 4,500 direct mining jobs in Alaska.
  • 9,000 total direct and indirect jobs attributed to Alaska mining industry.
  • $620 million in total direct and indirect payroll.
  • Some of Alaska's highest paying jobs with an estimated average annual wage of $100,000, which is double the state average for all sectors of the economy.
  • $17 million in local government revenue through property taxes and payments in lieu of taxes.
  • $148 million in state government revenue through rents, royalties, fees, and taxes, up 170% from 2010.
  • $172 million in payments to Alaska Native corporations.
  • Mostly year-round jobs for residents of more than 120 communities throughout Alaska, half of which are found in rural Alaska where few other jobs are available.

The mining industry also makes substantial community investments in education and training initiatives as well as charitable organizations.  Individually, mining industry employees volunteer their time and money to many local causes.

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Livengood Project - a Generation of Jobs and Positive Economic Impacts

The Livengood project is a generational economic opportunity for interior Alaska through local jobs, contracts and purchasing.  Based on the Company's August 2011 Preliminary Economic Assessment (PEA), the long life mine is estimated to create:

  • +1,000 direct construction jobs
  • +400 direct operational jobs for 23 years
  • Fund $1.6 Billion Capital Cost
  • Taxes and Royalties paid to the State of Alaska and the State Mental health Trust that will support needed services for Alaskans
  • Significant local contracting and purchasing opportunities
  • Investments in education, training and community non-profit organizations

Mining industry jobs  typically are stable year round  and include benefit plans, such as, health, life, retirement, etc., which add to the overall economic impact as well as the desirability of employment in that sector. 

As ITH advances this project, more detailed information will be available regarding jobs and economic opportunities.

 

 

 

 

 

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