Alaskan Gold Production 'Booming'

Source:

"Alaska is currently experiencing levels of gold production last seen back in 1916."

Alaska is currently experiencing levels of gold production last seen back in 1916.

The state produced 800,000 ounces of the precious metal last year and more companies are mining gold in the area as a result of prices hitting record highs in recent times, according to the Anchorage Daily News.

High prices are also allowing firms to plough more of their profits into developing existing mines to increase their lifespans.

Production could continue to increase over the next few years - two major projects in the south-west of the state could yield 124 million ounces of gold between them.

Currently, Alaska represents about 10% of total U.S. gold output.

The country produced 230 tons of the precious metal from mining projects last year, according to the U.S. Geological Survey.

Gold was initially discovered in Alaska in the 19th century. The first significant gold strike took place in 1880 in Juneau.

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