Fort Knox

The Fort Knox Gold Mine

This is one of the largest open pit placer mines in Alaska. It is 25 miles northeast of Fairbanks and we pass it every time we hop a ride to town. The mine operates 24-7-365 and produces about 330,000 ounces of gold a year. It has been in operation since 1994. In that year gold closed at $383 per ounce. Last year, gold closed at $1420 per ounce; that would be $486,600,000 worth of dreams. There remain an estimated 3.5 million ounces of gold yet to be mined from this location.

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