Tuesday, 22nd January 2008 (2638 views)

High metals prices are bringing mining firms and private prospectors back to Arizona in a new gold rush, the Arizona Republic reports.

Arizona's last gold mine closed in 1998 when market conditions made it unprofitable, but recent high prices, combined with the region's numerous gold targets, are making the state a good prospect for investment again.

Most activity is focused on the La Paz and Mohave counties to the west, with companies including Columbus Gold, Patriot Gold and American Bonanza Gold all pursuing prospects.

American Bonanza president and chief executive Brian Kirwin told Arizona Republic: "There are a lot of potential gold mines in western Arizona that have been overlooked for a long time."

Private prospectors are also rushing to the state, with equipment sales tripling at Promack Treasure Hunting in Apache Junction and membership of Superstition Mountain Treasure Hunters Club increasing more than five-fold to 400 in the past year, the newspaper says.

Perhaps Arizona's most famous, though undiscovered, mine is the Lost Dutchman, which has been sought after since 1892 amid legends of mysterious disappearances, deathbed confessions and lost Apache gold.

 

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