14 Thursday, October 16, 1997 Pahrump Valley Gazette
There's gold in them thar hills!
by Geoff Krei=
PVa stcf
Nevadans are sitting on top of a gold mine and many of
them don't even know it.
The Nevada Mining Industry produced over 7 million
ounces of gold last year netting $2.73 billion at the 1996
average price of $387.87 per ounce. The state, known for its
Forum
silver, produces 66 percent of the nation's gold, which stimu-
lates enormous economic wealth.
"We arc very proud of our 1996 economic impact num-
bers," said Mike Doyle, president of the Nevada Mining
Association. "The numbers indicate that mining is truly a
benefit to the state coffers and shows the industry is looking
forward to a long stay in Nevada."
For the last 15 years the industry has developed a large
base that is sustainable for at least two decades. More
;10 billion has been spent in exploration, production and
equipment expenditures since 1980.
Gold exploration activity in the state remained strong in
1996 with 49 companies spending $125 million on explora-
tion.
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Nevada has evolved into the
third largest gold producer in
the world behind South Af-
rica and Australia. There are
more than 30 major operat-
ing metal mines in the state
including six in Nye County
and 24 other operating indus-
trial and mineral mines.
"Mining is the second
largest industry in the state,
yet many Nevadans are un-
aware of it's tremendousposi-
five impact on their lives,"
Doyle said. "We want to in-
troduce all Nevadans to the
importance of mining in the
state, and to educate them
about responsible modern
mining."
For other mineral prod-
ucts just under 21 million
ounces of silver were pro-
plants in Nevada.
Barfing any significant federal initiatives adversely af-
fecting the industry and even with current commodity price
declines, the outlook for the industry remains fundamentally
positive. The industry has sufficient proven and probable
gold reserves to maintain production at current levels for
approximately 20 years.
Gold's positive outlook in Nevada comes when the rest of
the mining in the state is in need of a boost. Many mines in
southern Nevada are in danger of being shut down due to
increased environmental concerns. The steady flow of gold
production is helping to protect the mining industry from
drought.
The mining industry creates nearly 14,800 jobs through
Nevada 66%
U.5. Gold Production
(10.6 Million Ounces)
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duced for $110 million at the 1996 average price of $5.18 per
ounce; over 300 million ounces of demonstrated and inferred
silver resources; 1.1 million barrels ofoil worth $15.9 million
were produced; industrial minerals included barite, diato-
mite, gypsum and lime valued at $397 million. Other metallic
minerals and copper lithium, and mercury were produced.
1.36 million megawatt-hours of electricity worth $108.7
million were produced by geothermal electrical generating
LIBRARY BOOK SALE-Louise Wheeler, book sale
coordinator, looks on as Justin Mills, 10, looks at a Civil War
book. Justin placed a bid on this book and purchased others he
liked. Money from the bi-annual sale held by Friends of the
Library helps purchase new books, computers and other items
needed by the Hbrary. Photo by Patti Babcock
= 10 Million Ounces
World Gold Mine Production
(7.5.4 Million Ounces)
Canada 7% Nevada 9%
China 6%
5%
Other 40% Africa 21%
J
direct employment and approximately 67,450 jobs through
indirect employment. The total payroll for mining workers
reached over $700 million. Over $122 million was paid in
taxes by the mining industry.
"This industry is growing more and more each year,"
Doyle said. "In 1996 we had 6.76 million ounces and so far i/l
1997 we already have 7.40 million. The golffmining in this
state is going very well."
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