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Newspaper Archive of
Pahrump Mirror
Pahrump, Nevada
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October 16, 1997     Pahrump Mirror
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October 16, 1997
 

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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. During the past decade Monitoring Service ) Available For Homes & Business Immecbte Communication obsng 727-1609 I00usiness Carcls Western Union Mail Services Storage Units Available Engraving 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) Al's Tire & Auto Repair 727-3627 i H37t [I ,PI55/80R13-$34.95 * P175/80R13-$36.95 Ma mu- s. P185/80R13-$38.95 .. Ts:... t4 OOl.m. 3.00 m. s P185r/SR14--$39.95 i'm " " Includes:  -FIll slnstallation  oucj. on Most Tires 1J.q, a =,=s 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." Cleaning Not Your Call Mrs, Clean Call us at Seal Grout Clean -up & Cleaning =tdmntlal Carpet Cleaning Windows and iloro .... 1-800-449-1269 Senior Discount "$99 ffor reflects a $50 rate Regt.at *nstala pcce =s $t49 "'Free month o pogammg ,s the PreEnZertanmont packsge Offer =s lot a IndeO Ime, sublet to ere(fit aOptoval, a cannot be cned with any other offer. Programming and qugment 'enlal PaCkages PurChased sepaxa'ly Prces sublect t cn Lca' s"" m ' Off" va    from August 20 to October 31, 1997 to residential customers on O 1997 PRIMESTAR 8y TSAT B