Around Swedish America in 
Day 13 - Platinum
When the feverous quest for gold in Alaska started to subside, a native man discovered a heavy metal at Goodnews Bay in 1926 which he called “black gold”. This was the only find of platinum in North America and mining with pick, shovel and a small sluice box quickly started in response to platinum prices of $150 an ounce. When prices dropped to $25 in the depression, hand miners went out of business.
In 1934 Anders Olof “Andrew” Olson established the “Goodnews Bay Mining Company” that eventually put the city of “Platinum” on the map. In its first year of operation, the mining company had mined as much platinum as the total amount mined in the previous seven years. By 1938 Anders Olof and his innovative half-brother Ed had fully mechanized the production with an enormous dredger that operated around the clock during the mining season that could run only between May 1 and November 15 because of the severe climate.
By 1975 when about one cubic meter (1.31 cubic yards) of platinum had been extracted from about 54 million cubic meters (70 million cubic yards) of earth and gravel, the mine was closed down. By this time the technically interested and innovative workaholic brothers had solved the numerous problems that had developed and they had designed many improvements in the various facets of mining. Some of these improvements are the Olsen Screen Section which improved the recovery system on the dredge and which was patented; the ice saw for cutting ice in the dredge pond; a revolving screen for jigs; an automatic hydraulic nozzle called “the Lazy Swede”; blowers for cleaning platinum; a coffer dam, and a 8-ton ripper for digging frozen ground.
The “Platinum King” Anders Olof Olson lived to the ripe old age of 95, not having been ill once during his tough life. He had emigrated from Krokvåg when he was 18 and in his retirement years he showered the community with donations and gifts. The local school is called Anders Olofskolan. There are many interesting stories about the illustrious emigrant in the book "Platina-kungen" written by his relative Jan Lindström that now is available in English.