Gold mining in nevada today.

Gold mining is a significant industry in Nevada, contributing substantially to both US and global gold production. In 2018, Nevada produced 5,581,160 troy ounces of gold, representing 78% of the total US gold output and 5.0% of the world’s production. From 1835 to 2017, the state’s total gold production reached 205,931,000 troy ounces, valued at US$322.6 billion in 2020.

The majority of Nevada’s gold production comes from large open pit mining, employing heap leaching recovery methods. The industry played a crucial role in the state’s economy, supporting an average of 14,787 direct employees in 2018, with an additional 75,000 jobs related to supplying goods and services to the mining sector. Employees in the mining industry received an average annual pay of $97,600, making it the third-highest average in the state’s private employment sectors.

Major mining companies like Newmont Goldcorp and Barrick Gold Corporation operate several gold mines in Nevada, including those at Jerritt Canyon and the Carlin Trend. While Nevada was historically known for silver mining in the 19th century, many early silver mining districts also yielded substantial amounts of gold. Notably, the Comstock Lode produced 8,600,000 troy ounces of gold through 1959, and the Eureka district contributed 1,200,000 troy ounces. Additionally, the Robinson copper mine has produced over 2,700,000 troy ounces of gold, along with a significant amount of copper.

A gold production in decline sice the 1990s.

While Nevada has been historically renowned for its gold and silver production, recent years have witnessed a decline in both precious metals. The peak production occurred in the late 1990s, and since then, there has been a consistent downward trend. This global trend is not unique to Nevada, as major gold companies worldwide are grappling with depleting reserves and diminishing ore grades. Despite the state’s vast geological potential, the easily accessible and lower-grade deposits have already been exploited. Discovering new deposits is becoming more challenging and expensive, often situated in remote or difficult locations, deep underground veins, refractory ore, or requiring the construction of new infrastructure from scratch.

Tom Palmer, President and CEO of Newmont, notes that Nevada Gold Mines (NGM) serves as a flagship example of how the gold industry can strategically consolidate within a region. Recognizing the challenges posed by declining reserves and ore grades, precious metals producers have turned to mergers, acquisitions, and asset exchanges as a means of sustaining growth. Nevada’s mining industry has witnessed significant M&A activities, with the creation of NGM in 2019 as a prominent example. This joint venture between Barrick (61.5%) and Newmont (38.5%) established the world’s largest gold-producing complex. Mark Bristow, CEO of Barrick Gold, highlighted the rationale behind this collaboration, emphasizing the complementary nature of their assets.

The merger has proven successful, extending the life of the mine and enhancing operational efficiency. Greg Walker, Executive Managing Director of NGM, underscores the positive impact of the agreement, reducing costs and bringing additional ounces into the processing plants. In 2020, the Nevada Gold Mines complex produced 2.1 million ounces of gold, and the expectation for 2021 is a yield between 2.1 and 2.25 million ounces, solidifying the collaborative approach as an effective strategy amid challenging industry dynamics.

Avtive gold mines in Nevada.

Nevada plays a crucial role in the U.S. mining industry, particularly in gold production. In 2020, the state contributed significantly to the nation’s mineral output, with gold production reaching 4,632,690 troy ounces, accounting for 76% of the U.S. total and 4.5% of global production. Despite a 4.8% decrease from 2019, gold production in Nevada set a record in 2020. Newmont Gold Company played a major role in this production.

The overall economic impact of mining in Nevada in 2020 was substantial, contributing $9.5 billion to the state’s economy. Gold and silver mining specifically contributed $8.4 billion. Nevada ranks as the top gold-producing state in the U.S., surpassing other states and accounting for a significant share of the world’s gold production.

In 2020, the Nevada mining industry supported an average of 15,136 direct employees, with an additional 75,000 jobs related to supplying goods and services to the mining sector. This emphasizes the industry’s significance to both employment and the broader state economy.

Here is a summarized table of active gold mines in Nevada:

This table provides information on the owner, county, production, and references for each active gold mine in Nevada.

The Carlin Trend

The Carlin Trend, situated in Eureka County, Nevada, is a renowned gold mining region and home to the Goldstrike mine (Betz-Post), the world’s largest Carlin-type deposit. Over the past 30 years, the Goldstrike mine has yielded an impressive 43 million ounces of gold.

Gold discoveries in the Carlin vicinity date back to the 1870s, but early production was limited. It wasn’t until 1961 that Newmont Mining Corporation uncovered a substantial low-grade gold deposit, leading to the commencement of gold production at the Carlin mine in 1965. However, with gold priced at US$35 per troy ounce, ore grades were initially too low to spark significant interest in northern Nevada. The mining industry’s attention shifted in the 1970s when rising gold prices prompted a focus on similar deposits.

The Carlin Trend, a segment of the Carlin Unconformity, spans 5 miles in width and 40 miles in length, running northwest to southeast. It has emerged as the most prolific gold-producing mining district in the United States, surpassing 50,000,000 troy ounces of gold production in 2002. The Carlin mines, including Goldstrike, pioneered the open-pit mining method with cyanide heap leach recovery, a technique now employed in large low-grade gold mines globally.

Ongoing exploration and development activities along the Carlin Trend continue to reveal new ore deposits. Barrick Gold’s discovery of the South Arturo deposit in 2005 is one such example, estimating an impressive 1,300,000 troy ounces of gold within the deposit.