Thursday, October 9, 2008

Nevada Gold Mining Up With Prices

The Las Vegas Review-Journal has reported that the state of Nevada is cashing in on all-time high gold prices. As investors are flocking to gold and the economy remains uncertain, Nevada is seeing soaring profits.

The number two export industry for the state of Nevada is gold mining. Since 2002, the industry has surged with prices soaring far beyond the $300 an ounce price at the time. The taxes paid by the mining industry to the state of Nevada have also soared -- to almost $200 million a year, which is very nearly double from 2004.

Facts about Nevada Gold Mining include:

  • Nevada gold mining creates more export dollars than any other business sector, excluding casinos.
  • Nevada Division of Minerals reports that the value of mineral production is worth $5.4 billion.
  • Nevada is the fourth largest producer of gold in the world.
  • Nevada mining employment accounts for almost 15,000 jobs in the state. The average salary is around $80,000.

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