The Alaska Industrial Development and Export Authority (AIDEA) has approved up to US$25 million ($34.65 million) in funding to cover drilling and associated workstreams for the West Susitna Access Project (WSAP).
Funds will cover geotechnical drilling, as well as associated permitting, hydrologic, and engineering work for WSAP.
WSAP is a state-led road initiative that intends to connect US GoldMining’s (NASDAQ:USGO) Whistler Gold-Copper Project and other local mines with existing infrastructure in the Anchorage area of Alaska, US.
Existing foundations in Anchorage include highways, rail, power, and port infrastructure.
US GoldMining CEO Tim Smith says the company commends the State of Alaska and AIDEA for its “commitment to advancing the WSAP”.
“This $25 million authorization by AIDEA for the pre-construction work on the [WSAP] marks a significant step forward in physically linking Whistler, and the broader West Susitna Mineral District, directly to the greater Anchorage transportation and energy grid,” Smith notes.
“We look forward to continuing our collaborative work with all levels of government and local stakeholders to support an initiative that can serve as a vital contributor to the Alaskan economy while strengthening US domestic critical mineral security.”
AIDEA Chair Bill Kendig says this action reflects the board’s confidence in the WSAP, showcasing AIDEA’s commitment to “doing it right”.
“West Susitna is exactly the kind of investment AIDEA was created to make — infrastructure that opens opportunity for Alaskans today and for generations to come,” Kendig adds.
Infrastructure investments to better Alaska’s mining sector
The development of infrastructure access in the Anchorage district ties into a broader Alaskan mining story.
Alaska is home to 51 of the total 54 critical minerals listed by the US Geological Survey. The state’s mineral wealth positions the US to secure critical minerals amid rising export uncertainty.
According to Alaska’s Division of Geological and Geophysical Surveys, Alaskan mines produced $4 billion worth of metal in 2024 and accounts for around 12% of the country’s total mineral production.
Globally, Alaska hosts approximately 7% of zinc resources, 7% of gold, 7% of silver, 12% of copper, 16% of molybdenum, 2% of lead, and 17% of coal resources.
Ensuring Alaskan mining hubs have access to infrastructure is only going to support natural resource projects.
Further north of Anchorage, the Fairbanks Gold Mining District is anchored by heavy industrial facilities, including the Fort Knox Mine, owned by Kinross Gold (TSX:K).
In 2025, Fort Knox produced 353,018 ounces of gold with a US$1,339-per-ounce cost of sales.
Felix Gold’s (ASX:FXG) Treasure Creek Antimony Project is located just 20 minutes from Fairbanks City. This gives the project direct access to power, water, telecommunications, and year-round road infrastructure.
Felix also benefits from year-round access to a skilled local workforce, regional industrial water networks, and established engineering suppliers.
This allows the company to direct its financial capabilities towards asset growth, extraction optimisation, and long-term shareholder value creation, Felix says.
US critical minerals backing
Support from the State of Alaska is a part of a larger US critical minerals conversation.
The country is gunning for strengthened critical minerals supply chains after export controls put many industries in danger.
In late August, the US Department of Energy pushed another US$500 million across seven critical minerals processing, battery manufacturing, and recycling projects. This comes just days after allocating US$162 million into critical minerals funding.
As reported by Mining.com.au, the funding falls under US President Donald Trump’s Executive Order, Unleashing American Energy, with the aim of advancing domestic critical minerals supply chains.
Currently, the US relies on foreign imports to supply the uranium concentrate needed for nuclear power.
The country alone holds around 1% of the world’s known uranium resources, with Wyoming ranking as the leading state of domestic reserves and production.
Also in the state of Wyoming sits American Uranium’s (ASX:AMU) Lo Herma Project.
The company describes itself as strategically positioned in the US to leverage in-situ recovery (ISR) mining that will strengthen the country’s uranium independence.
Located in Wyoming’s Powder River Basin, Lo Herma hosts a resource of 9.96 million pounds (Mlb) triuranium octoxide, including 4.79Mlb indicated. The project is surrounded by ‘major’ ISR producers and backed by strategic investors.
Late last month, American Uranium completed a large-scale aquifer testing program at Lo Herma, ahead of the company’s targeted Q4 Scoping Study.
Results are being independently evaluated by Petrotek, with a final report expected shortly.
American Uranium is an Australian uranium developer advancing a portfolio of ISR assets in Wyoming, led by its flagship Lo Herma Project.
Write to Maddison Elliott at Mining.com.au
Main Image: US GoldMining
