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Wednesday, 28th April 2004 (4748 views)

Nevada mines produced 7.3 million ounces of gold last year, according to the state Division of Minerals.<BR/><BR/>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. <BR/><BR/>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. <BR/><BR/>"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.<BR/><BR/>"Exploration activity remained strong in 2003, which should lead to additional discoveries and production in the future."

 

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