Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
U.S. Gold (NASDAQ:USAU) has been granted a key permit that allows the company to proceed with construction at its proposed CK gold-copper-silver mine in the state of Wyoming.
The industrial siting permit (ISP), issued by Wyoming’s Department of Environmental Quality is required for all projects in in the state projected to exceed $253.9 million in construction and mine capital costs, the miner said.
The ISP is the first of two critical licenses necessary to get the CK gold project off the ground. The second major authorization package is the operating permit and mine closure plan, which U.S. Gold expects to obtain as early as the first half of 2024.
“While copper-gold mining has not recently been permitted in the state of Wyoming, state agencies are well versed in regulating the extractive industry,” CEO George Bee said in the statement. “The opportunity to develop a mine in Wyoming is considered exceptional at a time when other jurisdictions pose challenges to developers.”
CK Gold, located in the Silver Crown mining district of southeast Wyoming, is slated to produce 108,500 ounces of gold equivalent annually over a ten-year mine life. A total of 248.8 million pounds of copper and one-million ounces of gold are projected to be produced over the mine’s operative life.
