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US Falls to #4 Gold Producer

Written By Luke Burgess

Posted February 8, 2008

Carlin Gold Mine, Nevada

Domestic gold mine production declined 6% in the United States in 2007, dropping the country to the fourth leading gold-producing nation, according to new figures published by the United States Geological Survey. Globally, the US is now the behind China, South Africa and Australia in the list of top gold producers.

Falling mine production from several mines in Nevada accounted for much of the decrease. However, Nevada remains the leading state producer in the US accounting for about 80% of the country’s production.

Overall, the US remained a net exporter of gold in 2007. The USGS says that a total of 240 million tonnes of gold was produced in the US last year, worth a total of US$5.1 billion. Gold produced by the United States currently accounts for 10.4% of global output.

99% of the gold produced in the US last year was yielded at 30 mines, with much of the remainder coming from large placer mines in Alaska, lode mines and small placer operations in Nevada and other western states. Commercial-grade refined gold came from about two dozen producers. A few dozen companies, out of several thousand companies and artisans, dominated the fabrication of gold into commercial products.

Estimated uses for 2007 were jewelry and arts, 84%; electrical and electronics, 6%; dental and other, 10%

– luke