Wednesday, 28th April 2004 (3282 views)

Nevada mines produced 7.3 million ounces of gold last year, according to the state Division of Minerals.

The calculated value of that gold rose from $2.4 billion to $2.6 billion during 2003 because of an increase in the average price, despite a fall of five per cent in production. Gold averaged $363 per ounce last year, up from $310 per ounce in 2002.

Nevada remains the top gold producer in the US and the third largest gold producer in the world, behind South Africa and Australia, according to the Ely Times.

"Although precious metal production declined in 2003, Nevada's mining companies continue to make a substantial contribution to the state's economy," Alan Coyner, Nevada Division of Minerals administrator, said.

"Exploration activity remained strong in 2003, which should lead to additional discoveries and production in the future."

 

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