Nevada nation`s No. 1 gold producer in 2017

Nevadas mines produced 5.64 million ounces of gold in 2017, according to reports compiled by the Nevada Division of Minerals released May 17.

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

Nevada continues to be the nations 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 U.S. Geological Survey. Nevada produced 5.6 percent of the total world gold production in 2017, ranking fifth behind 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. The average annual price of silver decreased slightly from $17.14 in 2016 to $17.04 per ounce in 2017.

Nevadas 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.

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.

In addition to assisting in the responsible exploration for minerals, the Nevada Division of Minerals is responsible for permitting, inspecting, and monitoring all oil, gas, geothermal and dissolved mineral exploration drilling activities on both public and private lands.

This article provided by NewsEdge.