NEVADA SPECIAL — Nevada is experiencing second mining renaissance

Few states have as rich a mining heritage as Nevada, which is sometimes called “The Silver State”.

Mining there has been around longer than the state itself and was Nevada’s first industry, with the Comstock lode discoveries drawing miners and prospectors from all over the world during the 1800s. By the turn of the century, mining towns had sprung up in Goldfield, Tonopah, Ely and at other long-forgotten whistle-stops.

A century later, Nevada is experiencing a second renaissance, which is being fueled by discoveries of bulk-tonnage, disseminated gold deposits early prospectors would not have been able to find, let alone mine.

This renaissance is the result of new mining and exploration techniques, and the investment of US$9 billion by Nevada mining companies. Gold production is currently at record levels, with production in 1994 having totalled 6.8 million oz. Furthermore, the industry has identified sufficient gold resources to produce 6-7 million oz. per year for the next 20 years.

In 1994, Nevada mines turned out 22.9 million oz. silver and other minerals including copper, lithium, mercury, barite, diatomite, gypsum and lime. The state also produced 1.6 million barrels of oil in 1994.

The industry employs 12,620 directly, while another 44,280 are indirectly employed by mining activities. In 1994, the mining industry paid more than US$113 million in state taxes, while operating on only one-tenth of 1% of Nevada’s surface area.