The Alaska Industrial Development and Export Authority (AIDEA) recently entered into a long-term agreement with Ambler Metals LLC (Ambler Metals) for shared predevelopment costs of the Ambler Access Project.
The Ambler Access Project is a proposed 211-mile, east-west running controlled industrial access road that would provide industrial access to the Ambler Mining District in northwestern Alaska. According to AIDEA, the area currently lacks the transportation infrastructure necessary for the development, construction, and operations of mines in the district.
“This is another example of AIDEA’s role in establishing public-private partnerships supporting responsible development of Alaska’s natural resources,” AIDEA Board Chairman Dana Pruhs said in a statement. “Projects like the Ambler Access Project help to create the tangible economic opportunities Alaskans need and deserve, especially for neighboring communities. No one does responsible resource development better than Alaska.”
The Ambler Access Development Agreement is an agreement between AIDEA and Ambler Metals to contribute up to $35 million each for feasibility and permitting activities of the Ambler Access Project through the end of December 2024. This agreement follows on an existing interim funding agreement between AIDEA and Ambler Metals established in July 2020.
The Ambler Mining District is one of the largest copper-zinc mineral belts in the world and has extensive deposits of other minerals such as gold, silver, lead, and cobalt, according to AIDEA.
---------
SOURCE: Alaska Industrial Development and Export Authority
