• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 15 hours "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 hour "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 3 days The Federal Reserve and Money...Aspects which are not widely known
  • 21 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 7 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 10 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 11 days Goldman Betting on Cryptocurrencies
  • 14 days Сryptocurrency predictions
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

The U.S. Mining Renaissance Just Got A Boost In This State

The senate in the U.S. state of Michigan last week declared September 6 as “Michigan Mining Day”. And on Friday we got some news about an even-bigger endorsement of the ongoing U.S. mining renaissance.

That came from major silver producer Hecla Mining. Which said that it is betting millions on the future of projects in an unexpected place: the state of Montana.

Hecla announced that it is acquiring junior minerals developer Revett Mining. The latter firm being the owner of two significant projects in Montana. Related: Oil Prices To Fall Or Fly Depending On Iranian Nuclear Talks

The key target for the Hecla takeover is the Rock Creek project in northwest Montana. Considered to be one of the largest undeveloped silver deposits in North America — holding a mineral resource of 229 million ounces of silver, plus 2 billion pounds of copper.

To buy Revett and the project, Hecla will pay $20 million in stock — representing a 30% premium to the company’s recent average trading price. Related: Saudi Influence On Oil Markets Slipping

The move is an interesting one, given the significant issues that have presented in developing Rock Creek. Revett Mining has been trying to advance the project for 10 years, much of that period being mired in legal battles over mine-building in Montana.

But a key court of appeals victory in 2011 paved the way for advances in permitting over the last three years. With an environmental impact statement expected to be issued for public comment by the U.S. Forest Service in the first half of 2015. Related: Rare Earths Problem Could Have A Nuclear Solution

Hecla apparently feels this progress has opened up some light for mining in Montana. With the major producer noting that its experience of “operating in a National Monument in Alaska since 1997″ may further help in moving Rock Creek along toward production.

In turning toward the proven geology — but challenging politics — of Montana, Hecla isn’t alone. With Rio Tinto subsidiary Kennecott saying last month that it plans to re-start exploration for copper near Missoula in western Montana.

All of which represents another round of data points suggesting that we should be considering America’s proven mineral fields for new projects. Watch for further progress on the Rock Creek permitting as Hecla takes over the project.

Here’s to the old being new again,
Dave Forest

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News