The Wall Street Journal reported that profits from the U.S. mining industry have fallen so far that they have wiped out the past 8 years of profits. This begs the question as to whether high risk mining ventures are a secure financial investment for Alaskans. Perhaps Alaska should be spending money on diversifying it’s economy instead of building roads and funding an industry that is losing money.

“Mining corporations with assets of $50 million or more recorded a collective $227 billion after-tax loss last year, according to Commerce Department data released Monday. That loss essentially wipes out all the profits the industry had made since 2007.”  Read the full article here: U.S. Mining Losses Last Year Wipe Out Profits From Past Eight Years