Published: November 29th, 2008 02:18 AM
Last Modified: November 29th, 2008 03:06 AM
Minerals mined in Alaska have plunged in price, too. The price of zinc, the most valuable mineral mined in the state, is down 38 percent since midyear. Gold is off 22 percent. Silver prices have plunged 47 percent, and lead is off 29 percent.
"We only have five large mines. The folks who have debt are in real difficult times right now," said Steve Borell, executive director of the Alaska Miners Association.
The lower metal prices are forcing the companies in Alaska to tighten their belts but none of them have shut down, he said.
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