Nevada’s prolific gold production, mineral potential, and pro-mining policies make it a world-class jurisdiction for high yields and exciting profits.
Landing in a gold mine is no longer like searching for a needle in a haystack as it used to be. Gold production has been incredibly strong in certain jurisdictions and miners are reaping the benefits. In 2020, gold miners reported record margins, with gold prices hit a record of US $ 2,070 an ounce.
Although gold is produced worldwide, production in North America is led by the USA, which was the fourth country with the highest gold production in the world in 2020. Gold production in the US is preceded by several key benefits, including mine safety and stability.
America’s gold production is largely attributed to the state of Nevada. The state was responsible for 83 percent of gold production in 2018, with a staggering 173.6 metric tons of gold production. Nevada’s geologically diverse landscape, backed by a rich mining history, has made it one of the most attractive gold jurisdictions in the world.
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Golden Independence (CSE: IGLD, OTC: GIDMF, FRA: 6NN) is developing its Independence project in Nevada, located entirely within the previously permitted plan of operations for the NGM-operated Phoenix mine.Send me an inverter kit
Nevada ranked as the world’s top jurisdiction for mining
According to the Fraser Institute, Nevada was classified as the number one mining jurisdiction in the world based on the Investment Attractiveness Index. Nevada has also consistently ranked in the top 10 jurisdictions in the last eight surveys based on investment attractiveness. The investment attractiveness index is based on two main factors: mining policies and mining potential.
Nevada’s mining policies support mining so strongly that in the same survey by the Fraser Institute, more than half of those surveyed were highly confident that they would be granted the required permits, and the rest were confident. The reason for this confidence is probably due to legal and regulatory stability since the mining policies of the federal Mining Act of 1872 can only be changed by Congress.
In addition to stable mining policies, Nevada is also safe and economically attractive compared to other regions of the world. Nevada tax regime does not include corporate or individual income tax, inventory tax, franchise tax, unit tax and no special intangible tax. The state also has a strong mining infrastructure with access to energy, natural gas, and transportation.
Nevada’s mineral potential is due to three key geological trends: the Cortez trend, the Carlin trend, and the Walker Lane trend. These three key geological trends are responsible for most of Nevada’s gold production and potential. From 1986 to 2018, all three trends have produced almost 170 million ounces of gold in Nevada, with the Carlin trend producing the most. The Carlin trend is considered to have the second highest concentration of gold in the world, with 255 million ounces of gold, including past and current reserves and resources. Nevada is also considered one of the most important sources of critical base metals including copper, zinc, molybdenum, gold and silver.
Gold production in Nevada
Nevada was home to two of the 10 largest gold mines in the world in 2020.
The Carlin Trend gold mine is ranked sixth in the world and is owned and operated by Newmont (TSX:NGT, NYSE: NEM). The mine had combined probable gold reserves of 12.46 million ounces. The mine produced 927,000 ounces of gold in 2018 and 972,000 ounces of gold in 2017. The Carlin Trend gold mine has underground and open pit mining methods.
The Cortez gold mine is ranked 10th in the world and is owned by Barrick Gold (TSX:ABX, NYSE: GOLD). The mine had 8.6 million ounces of gold, including 1.13 million ounces of proven reserves and 7.59 million ounces of probable. The Cortez gold mine also has open pit and underground mining methods.
Barrick Gold and Newmont recently entered into a joint project agreement to establish Nevada Gold Mines (NGM). The joint venture combined the assets of both companies to create the world’s largest gold producing complex, including the Cortez and Carlin trending mines. NGM is operated by Barrick Gold and is expected to produce more than 3 million ounces of gold in 2021. Barrick Gold owns 61.5 percent and Newmont 38.5 percent.
A company that is strategically positioned to take advantage of this success is Golden Independence Mining (CSE: IGLD, OTCQB: GIDMF, FWB: 6NN). The company’s Independence project is surrounded by NGM properties and is located 25 miles southwest of Battle Mountain in Nevada. Golden Independence has the option to earn up to 75 percent ownership in the project.
The Independence project contains near-surface gold mineralization with a total measured and indicated resource of 537,000 ounces of gold and 8.1 million ounces of silver, and a total inferred resource of 147,300 ounces of gold and 1.2 million ounces of silver. The inferred high-grade underground gold resource is an impressive 796,000 ounces of gold. The company’s project target types include shallow, low-sulfidation epithermals and a deeper Carlin copper-gold skarn.
With the average price of gold reaching US $, 1828 in 2020 and Nevada producing more than $ 8 billion in gross mining revenue in 2016, investors looking to profit from the gold market will likely be interested in opportunities in Nevada. Nevada’s prolific gold production, mineral potential, and pro-mining policies have made Nevada a world-class jurisdiction for high yields and exciting profits.
This INNSpired article is sponsored by Golden Independence Mining (CSE: IGLD, OTCQB: GIDMF, FWB: 6NN). This INNSpired article provides information that was obtained by Investing News Network (INN) and approved by Golden Independence Mining to help investors learn more about the company. Golden Independence Mining is a client of INN. Company campaign fees pay INN to create and update this INNSpired article.
INN does not provide investment advice and the information in this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services, or securities of any of the companies described.
The information contained herein is for informational purposes only and should not be construed as an offer or solicitation for the sale or purchase of securities. Readers should do their own research to get all the publicly available information about the company. Before making any investment decisions, it is recommended that readers consult directly with Golden Independence Mining and seek the advice of a qualified investment advisor.