Nevada continues to be top gold producer in the nation

Nevada’s mines produced 5.58 million troy ounces of gold in 2018, according to reports compiled by the Nevada Division of Minerals. This total was down 1.1% from the 2017 production level of 5.64 million ounces. The average annual price of gold increased slightly from $1,257 per ounce in 2017 to $1,268 per ounce in 2018. Gold production from Nevada mines has remained steady in the 5 to 5.6 million ounce-per-year range for the past ten years.

Nevada continues to be the nation’s top gold producing state, contributing 83% of the total U.S. gold production in 2018 of 6.75 million ounces, as reported by the United States Geological Survey. Nevada produced 5.4% of the total world gold production in 2018, ranking 5th behind the countries of China, Russia, Australia, and Canada. Primary domestic uses of gold in the US were for: jewelry, 46%; electrical and electronics, 40%; and official coins, 9%.*

Nevada mines produced 8,011,408 troy ounces of silver in 2018, a decrease of 5.5% from the previous year. The average annual price of silver decreased from $17.04 in 2017 to $15.70 per troy ounce in 2018. Primary domestic uses for silver were: electrical and electronics, 36%; coins and metals, 22%; jewelry and silverware, 7%; and film, 5%.*

Nevada’s copper production in 2018 was 144.6 million pounds, 0.8% less than the previous year’s production. The average price of copper in 2018 was $2.96 per pound. Domestic uses for copper were: building construction, 43%; electrical and electronic products, 19%; transportation equipment, 19%; consumer products, 12%; and industrial machinery and equipment, 7%. *

Industrial mineral production in Nevada in 2018 included aggregates, barite, diatomite, dolomite, gypsum, lime and limestone, lithium compounds, magnesium compounds, molybdenite, opals, perlite, salt, silica sand, and specialty clays.

The Nevada Division of Minerals is responsible for collecting all mineral, geothermal, and oil production data for each operator in the State annually. The Division will publish this information in the Major Mines of Nevada, 2018 publication through the Nevada Bureau of Mines and Geology later this year. More information is available at http://minerals.nv.gov/.