As copper prices soar to record highs, Alaska’s untapped copper deposits are capturing national attention, igniting discussions about a new era of copper mining in the state.
Driven by the booming demands of artificial intelligence, clean energy initiatives, electric vehicles, and increasing urbanization, the price of copper hit $5.80 per pound on July 25, 2025, reflecting a staggering 44% increase from $4.03 per pound at the beginning of the year.
Although the price later settled at around $4.40 per pound when it was clarified that President Donald Trump’s recent tariff applies only to refined copper, the surge in demand continues to put pressure on global copper markets.
According to a recent study by researchers from Cornell University, the University of Queensland, and the University of Wisconsin, global copper production needs to increase significantly to meet targets for supporting developing countries and transitioning to cleaner energy.
The study estimates that by 2050, mines must produce up to 3 billion metric tons of new copper—nearly six times the 2024 global output—a feat deemed “improbable” without significant investment and reform in permitting processes.
As a thought-provoking quote from Adam Simon, a professor at the University of Michigan and co-author of the study, highlights, choices around resource allocation will become increasingly critical: “If it comes down to a competition between ‘Are you going to build health care in Africa or are more people going to drive a Tesla?’ I would vote for health care in Africa.”
Even conservative scenarios for energy transition demand unprecedented new supplies of copper, a reality amplified by the burgeoning energy consumption associated with AI data centers.
For the global mining industry to successfully scale up operations, analysts suggest copper prices might need to exceed $9.00 per pound.
Rising copper prices fueled by technological advancements and geopolitical factors like Trump’s tariffs position Alaska at a vital juncture.
The state possesses world-class copper potential, yet it currently produces no primary copper, except for minor byproduct credits from Hecla’s Greens Creek silver mine.
Historically, Alaska has a rich copper legacy, dating back over a century when iconic financiers J.P. Morgan and Simon Guggenheim sought to develop the renowned Kennecott Mine.
As the world grapples with another energy and industrial transition, Alaska’s extensive copper reserves are again under the spotlight.
Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies (CSIS), highlights the Pebble project in Alaska and Arizona’s Resolution project as two of the most promising near-term sources for U.S. copper extraction.
Both projects have faced considerable legal challenges and permitting obstacles in the past, which may be alleviated under the current administration committed to expediting mining development.
The Resolution project has gained some traction under the federal FAST-41 permitting streamlining initiative, while Pebble remains mired in bureaucratic hurdles following a 2023 U.S. Environmental Protection Agency (EPA) decision that impeded development of this significant copper-rich resource.
Northern Dynasty Minerals, Pebble’s owner, has initiated legal action to challenge this EPA decision, asserting that it infringes on future Pebble mine permitting rights.
At the heart of this debate is Pebble’s extraordinary potential as one of the largest undeveloped copper and gold deposits on the planet, estimated to hold over 75 billion pounds of copper and 80 million ounces of gold among other valuable minerals.
According to a preliminary economic assessment (PEA) from 2021, operations at Pebble could yield an average of 320 million pounds of copper annually over two decades, which—at current prices—could generate around $3.1 billion in annual revenues, half of which would be derived from copper sales alone.
However, even if regulatory challenges are resolved, it is anticipated to take at least a decade before the Pebble project could deliver its first copper production to market.
While Pebble represents a significant opportunity, it is not Alaska’s sole prospect for bolstering copper supply.
The Ambler Mining District in Northwest Alaska is also rich in high-grade copper, zinc, cobalt, gold, and silver deposits, and includes the Arctic mine project developed by Ambler Metals—a joint venture of Trilogy Metals Inc. and South32 Ltd.
A 2020 feasibility study outlined a profitable mining operation at Arctic, projecting production of 1.9 billion pounds of copper and substantial amounts of zinc, lead, gold, and silver over an initial mining period of 12 years.
Originally prepared to pursue permitting four years ago, Ambler Metals paused its efforts following the Biden administration’s retraction of necessary federal permits for a vital road to transport resources to market.
This controversy has prompted Alaska Governor Mike Dunleavy to speak out, emphasizing the need for the U.S. Department of the Interior to adhere to established law mandating accessible permits for the Ambler District.
In March, Interior Secretary Doug Burgum instructed the Bureau of Land Management to rectify land withdrawals, potentially renewing the pathway for the Ambler Road’s approval process.
Access to this road would open avenues to several copper-rich deposits, including Bornite, located approximately 16 miles south of the Arctic project on Alaska Native lands owned by NANA Corporation.
Bornite is being advanced toward permitting by Ambler Metals and is estimated to hold over 6.5 billion pounds of copper, along with various other valuable metals.
There is also significant potential at the Sun deposit, which is located along the proposed Ambler Road and is currently being explored by Valhalla Metals Inc.
The Sun deposit hosts notable quantities of copper, zinc, silver, and gold, and although exploration is still at preliminary stages, there are indications of a potentially much larger mineralized system.
Overall, the Ambler Road project could grant access to 9.3 billion pounds of copper, with many prospective exploration targets likely to increase this estimate significantly.
In addition to these projects, there are several advanced-stage mineral exploration ventures in Alaska that could deliver critical domestic copper supplies in coming years.
The Alaska Range project, being developed by PolarX Ltd. in partnership with Northern Star Resources Ltd., encompasses a 22-mile copper-rich trend about 160 miles northeast of Anchorage.
This project includes Caribou Dome, which contains resources averaging 3.1% copper, and the Zackly skarn deposit, which holds significant amounts of copper, gold, and silver resources.
A scoping study published in 2024 posits plans for an operation that would extract over 326 million pounds of copper, alongside gold and silver, over approximately 9.5 years of mining.
Another notable exploration project includes Palmer, situated near Haines in Southeast Alaska, which possesses both indicated and inferred resources of copper, zinc, lead, silver, and gold.
The Whistler project, located in the burgeoning West Susitna Mineral District, is being advanced by U.S. GoldMining Inc. and is estimated to contain significant overall resources of copper, gold, and silver across three deposits.
In April of this year, U.S. GoldMining initiated a PEA, which is expected to investigate mining opportunities at Whistler.
According to U.S. GoldMining CEO Tim Smith, recent market changes, including rising copper prices and tariffs, may mark a pivotal moment for the company’s projects, notably Whistler, enhancing its attractiveness in a mining-friendly jurisdiction like Alaska.
Ultimately, the trajectory of Alaska’s copper mining industry hinges on several critical determinants, including the outcome of ongoing legal battles surrounding the Pebble project, the fate of the Ambler Road initiative, and the overall speed of permitting processes.
These factors will play a vital role in whether Alaska capitalizes on its robust copper potential or remains stalled amidst regulatory challenges.
image source from：miningnewsnorth
