Finance underground mining equipment near Juneau, AK. Greens Creek and Kensington-area operators. LHD loaders, drill jumbos, haul trucks. $50k minimum, fast approval.
Southeast Alaska's mineral wealth concentrates in a geological belt running from the Canadian border through the Juneau-Sitka corridor. Two operating underground mines anchor the regional economy: Greens Creek on Admiralty Island, one of the world's premier silver mines producing silver, gold, zinc, and lead, and Kensington north of Juneau, a producing underground gold mine with significant resources at depth. Both operations run extensive contractor networks, and the businesses serving those mines represent the primary customer base we work with in the Juneau market.
Underground mining in Southeast Alaska demands specialized equipment. The narrow vein and high-grade deposits that dominate this corridor requireunderground drill jumbos,LHD loaders, andunderground haulage trucksscaled for confined drifts and challenging access. We finance that equipment for the contractors and subcontractors who keep Greens Creek and Kensington running, as well as for smaller exploration companies working properties throughout the Juneau Gold Belt.
The minimum is $50,000. Deals up to $400,000 run application-only. Funding in one to two weeks from a complete application. Southeast Alaska's mining industry is real and demanding, and our program treats it that way.
Underground Equipment in the Juneau Mining Corridor
Greens Creek's underground operation uses a mechanized cut-and-fill mining method to extract ore from steeply dipping vein systems. Equipment required includes LHD loaders for ore handling, drill jumbos for development and stope preparation, jackleg drills for hand-held work in tighter faces, and the haulage system moving ore to the decline. The mine is owned by Hecla Mining Company and ranks among the highest-grade silver mines in North America, running ore grades that justify significant underground infrastructure and equipment investment.
Kensington, owned by Coeur Mining, operates via decline access in the rocks north of Juneau along Lynn Canal. The operation uses mechanized long-hole open stoping and requires conventional underground development iron: jumbos, loaders, and haul trucks running a continuous cycle between the working levels and the surface. Contractors supporting both Hecla and Coeur operations at these sites are frequently in our program for equipment replacement and fleet additions.
Beyond the two operating mines, the Juneau Gold Belt hosts multiple advanced exploration properties where programs run core drilling and reverse circulation work each season.Core drill rigsfor these programs range from compact wireline units to larger diamond drill machines capable of reaching 1,500 to 2,000 meter depths in the steeply inclined deposits common to this belt. Those rigs represent $200,000 to $800,000 in capital and are among our most common financing requests from Southeast Alaska operators.
Who Uses Our Program in Southeast Alaska
Underground contract mining companies and maintenance contractors working Greens Creek and Kensington represent the core customer. These businesses often rotate equipment between multiple projects, need to respond quickly when a contract expands, and cannot afford to wait six weeks for a bank to make a decision on a $300,000 LHD loader.
Exploration drilling companies running programs on Juneau Gold Belt properties work on a season-specific basis. Their capital needs are concentrated: they need the rig financed and ready before the field program starts, and they do not need it financed on a twelve-month flat payment schedule that ignores the winter hiatus. We work with the production rhythm of Southeast Alaska mineral exploration.
Smaller family-owned or owner-operator mining businesses working junior exploration properties throughout the Alexander Archipelago also access our program. Some of those operators are working on legacy properties that have produced before and are now being re-entered with modern equipment. Astartup mining business financingpath is available for entities without extensive operating history when the property and the operator's background support the deal.
Cash-Out and Refinancing Options for Juneau Operators
Underground equipment at Greens Creek-style operations accumulates significant value in the used market when maintained properly. A paid-off LHD loader or drill jumbo that has been maintained to operating specifications is worth real money in aSale-Leaseback Financing. The advance is based on current market value, and the equipment continues to run on the same face it was already working.
Contractors who financed equipment during a tight capital window and are now carrying rates that no longer reflect the market can refinance through our program.Equipment refinancingon underground iron is straightforward when the machine has documented maintenance history and the operator has a track record. The old note gets cleared, the new rate reflects current market conditions, and cash flow improves from the date the new note starts.
Common Financing Questions
Questions from Juneau and Southeast Alaska underground mining operators.