Nevada gold production up 3.2% in 2017; silver down 5.2% | nnbusinessview.com

Nevada gold production up 3.2% in 2017; silver down 5.2%

NNBW staff

A look inside the Round Mountain gold mine, located in the middle of Nevada.

CARSON CITY, Nev. — Nevada's mines produced 5.64 million ounces of gold in 2017, according to the Nevada Division of Minerals.

This total was up 3.2 percent from the 2016 production level of 5.47 million ounces, according to a May 17 news release from the division. The average annual price of gold, meanwhile, increased slightly from $1,251 per ounce in 2016 to $1,257 per ounce in 2017.

Further, Nevada continues to be the nation's top gold producing state, contributing 72 percent of the total U.S. gold production in 2017 of 7.88 million ounces, as reported by the United States Geological Survey.

Nevada produced 5.6 percent of the total world gold production in 2017, ranking 5th behind the countries of China, Australia, Russia and Canada.

Silver production in 2017 decreased 5.2 percent to 8.48 million ounces from the 2016 production level of 8.95 million ounces, according to the state. The average annual price of silver decreased slightly from $17.14 in 2016 to $17.04 per ounce in 2017.

Nevada's copper production in 2017 was 146 million pounds, down 9 percent from 2016. The average price of copper in 2017 was $2.79 per pound.

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“Industrial mineral production in Nevada in 2017 included aggregates, barite, diatomite, dolomite, gypsum, lime and limestone, lithium compounds, magnesium compounds, molybdenite, opals, perlite, salt, silica sand, and specialty clays,” according to the news release.

Go to minerals.nv.gov to learn more about the Nevada Division of Minerals.