El Dorado Gold Mine
Encyclopedia
The El Dorado Gold Mine is a gold mine and tourist attraction at the unincorporated community of Fox
, near Fairbanks, Alaska
. Originally founded in the early 1900s, the El Dorado mine underwent a gradual transformation in the latter half of the 20th century into an informational mine and tour destination. The El Dorado Gold Mine is owned by Alaska Riverways, Inc.
, and is located 10 miles north of Fairbanks on the Elliot Highway.
claim operated by the "Swede Brothers" of Fairbanks in the early 1900s. As records of the era were spotty and often poorly kept, the mine's exact ownership history for much of the first half of the century is unclear, though it is known that the mine changed hands several times.
The mid-20th century was a turbulent period for the El Dorado mine, as gold mining was halted by order of President Franklin D. Roosevelt
during World War II
, and individual mining claims were hamstrung by the government's imposition of a fixed price for gold. Small claims became less and less profitable to mine, and operations at the El Dorado mine ground virtually to a halt.
The mine was eventually purchased by Andrew Wescott, a Fairbanks gold miner, in the late 20th century. Wescott, realizing that the profitable days of solo mining in interior Alaska had passed, began to rebuild the El Dorado mine as an informational tour destination for Alaska visitors. The mine eventually became such a popular stop for tourists that Wescott could not handle the increased business by himself, so in 1990 Wescott entered a partnership with the Binkley family of Fairbanks in order to better develop the mine. A few years later, Wescott sold his stake in the mine to the Binkleys.
Currently, the mine operates from May to September, offering tours of the mines and train tours several times per day.
Fox, Alaska
Fox is a census-designated place in Fairbanks North Star Borough, Alaska, United States. It is part of the Fairbanks, Alaska Metropolitan Statistical Area. At the 2007 census the population was 353.-Geography:...
, near Fairbanks, Alaska
Fairbanks, Alaska
Fairbanks is a home rule city in and the borough seat of the Fairbanks North Star Borough in the U.S. state of Alaska.Fairbanks is the largest city in the Interior region of Alaska, and second largest in the state behind Anchorage...
. Originally founded in the early 1900s, the El Dorado mine underwent a gradual transformation in the latter half of the 20th century into an informational mine and tour destination. The El Dorado Gold Mine is owned by Alaska Riverways, Inc.
Riverboat Discovery
The Riverboat Discovery is a tour company in Fairbanks, Alaska which operates sternwheel riverboats on the Chena and Tanana rivers.-History:The Riverboat Discovery business was founded in 1950 by Jim Binkley, a former freight riverboat captain on the Yukon River...
, and is located 10 miles north of Fairbanks on the Elliot Highway.
History
The El Dorado Gold Mine began as a placer miningPlacer mining
Placer mining is the mining of alluvial deposits for minerals. This may be done by open-pit or by various surface excavating equipment or tunneling equipment....
claim operated by the "Swede Brothers" of Fairbanks in the early 1900s. As records of the era were spotty and often poorly kept, the mine's exact ownership history for much of the first half of the century is unclear, though it is known that the mine changed hands several times.
The mid-20th century was a turbulent period for the El Dorado mine, as gold mining was halted by order of President Franklin D. Roosevelt
Franklin D. Roosevelt
Franklin Delano Roosevelt , also known by his initials, FDR, was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war...
during World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, and individual mining claims were hamstrung by the government's imposition of a fixed price for gold. Small claims became less and less profitable to mine, and operations at the El Dorado mine ground virtually to a halt.
The mine was eventually purchased by Andrew Wescott, a Fairbanks gold miner, in the late 20th century. Wescott, realizing that the profitable days of solo mining in interior Alaska had passed, began to rebuild the El Dorado mine as an informational tour destination for Alaska visitors. The mine eventually became such a popular stop for tourists that Wescott could not handle the increased business by himself, so in 1990 Wescott entered a partnership with the Binkley family of Fairbanks in order to better develop the mine. A few years later, Wescott sold his stake in the mine to the Binkleys.
Currently, the mine operates from May to September, offering tours of the mines and train tours several times per day.