• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 12 hours Climate Change: A Summer of Storms and Smog Is Coming
  • 11 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 12 hours The Quick Read On MBS's Tour of Pakistan, India And China
  • 12 hours Iran Starts Gulf War Games, To Test Submarine-Launched Missiles
  • 11 hours BMW to add 2,000 more jobs at Dingolfing plant
  • 10 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 14 hours Saudi A to Splash $100 Bln on India
  • 1 day Itt looks like natural gas may be at its lowest price ever.
  • 13 hours Venezuela: Nicolas Maduro closes border with Brazil
  • 7 hours Washington Eyes Crackdown On OPEC
  • 1 day Amazon’s Exit Could Scare Off Tech Companies From New York
  • 22 hours NEW FERUKA REFINERY
  • 9 hours Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Dave Forest

Dave Forest

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

More Info

Trending Discussions

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

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News