Alaskas new $8 billion aluminum ore purchase will require the purchase of a total of 10 processing plants, the Alaskatas new governor said Thursday.
Bill Walker, who has said he plans to seek re-election in November, made the announcement after the state legislature approved the sale.
The Alaskand’s aluminum ore processing facilities will be the largest of their kind in the country, with a combined capacity of 4.8 million tons.
Walker said that since the Alkmaar’s announcement of the purchase, the company has secured more than $100 million in capital, and that the state will be able to produce its own aluminum ore at its facilities.
Walker said that the Alsands company will use the new facilities to produce aluminum ore for the next 30 years and that Alaska will be “the first state to get that,” he said.
Alaska has already begun a $10 million dollar program to purchase aluminum ore from the nearby mining town of Kalispell, where the company is located.
Alaskawas new copper mining lease in the area expires in 2022.
The Alaskantas aluminum ore purchases come as the federal government continues to try to close the gap between its production of coal and oil, a source of revenue for Alaska.
President Donald Trump has proposed slashing the amount of coal mined in the state, and the Trump administration has proposed to lift the production cap on oil production, which was previously set at 4.2 million barrels per day in January.