Natural Resources: Rich & Abounding

Mining

It was mining that originally drew non-indigenous people to Alaska and to the Interior. Mining continues to be a strong economic driver in Fairbanks and the interior. Fort Knox Gold Mine produces about 363,000 ounces of gold per year, employs over 200 people, and attracts over 55,000 tourists each year. Pogo Mine is another gold mine about 85 miles southeast of Fairbanks, which just started gold production in 2006. Usibelli Coal Mine (UCM) is headquartered in the Denali Borough has been producing coal for nearly sixty years, since 1943.

Resource: Northern Alaska Environmental Center

Oil & Gas

Fairbanks serves as a staging area for oil and gas exploration, development, and production on the North Slope. Oil is taken from the Trans Alaska Pipeline and refined by Flint Hills Resources into jet fuel, gasoline, and other refined products, which are used locally and shipped via rail to Anchorage and international locations. A second manufacturer, PetroStar, produces light fuels, including jet fuel and heating oil. Development of natural gas fields near Fairbanks is now underway. Currently Fairbanks Natural Gas provides natural gas to the local market. The Fairbanks Economic Development Corporation has more information about oil and natural gas that relates to the Fairbanks community.

Forestry

The 1.8 million acre Tanana Valley State Forest contains white spruce, black spruce, tamarack, paper birch, quaking aspen, and balsam poplar. The large inventory of birch trees make this forest a very interesting prospect for lumber companies specializing in finished hardwoods. Firewood

is becoming an increased interest to many homeowners whom chose to heat their home with wood stoves. The Fairbanks Economic Development Corporation has more information on forest products.

Local Agriculture

The Tanana Valley is one of Alaska’s premier agricultural regions and produces one third of Alaska's agricultural products. Local farmers grow barley, hay, large vegetables, oats, and potatoes. 50 % of potatoes consumed in Alaska, are also grown in Alaska, making potatoes Alaska’s most valuable agriculture product. An increasing number of Tanana Valley farmers are raising livestock, including beef, pork, and veal. Local farmers sell their products from May through September at the Tanana Valley Farmers  Market.  For more information on Fairbanks agriculture click here.