Gold Exploration Boosts Kensington Mine’s Outlook

Coeur Alaska’s Kensington Mine, located north of Juneau, garnered promising updates recently: a multi-year exploration effort has notably extended the mine’s projected lifespan by five years. As of the end of 2024, reserves jumped from 261,000 ounces to 501,000 ounces, enabling continued operations through 2029.

General Manager Steve Ball revealed the company invested nearly $90 million in drilling over several years, a commitment now paying dividends in new high-grade deposits.

For the Juneau community, this development is particularly welcome. The Kensington Mine employs approximately 380 people, with around 40% of them residing in Southeast Alaska. It's also the city’s second-largest private taxpayer, behind Hecla’s Greens Creek Mine. Brian Holst, executive director of the Juneau Economic Development Council, emphasized the importance of mining as one of the area’s highest-paying industries, offering average yearly earnings of over $120,000 and thus securing economic stability locally.

Mining, however, continues to face environmental challenges. The site has previously been connected to a tailings spill and a possible downstream fish die-off. In 2019, Coeur faced over $500,000 in fines from the U.S. Environmental Protection Agency due to various environmental violations.

Moving forward, Kensington’s team has already begun additional exploratory drilling, hoping to uncover further deposits that could extend the mine’s life beyond 2029.

Sources:

Soliman, Alix. “Gold Exploration Success Extends Kensington Mine Life for Five Years.” KTOO, 5 Sept. 2025, www.ktoo.org/2025/09/05/gold-exploration-success-extends-kensington-mine-life-for-five-years/.