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Business and Economy

Stable Gold Prices Allow Nevada Miners To Invest In Exploration, Technology

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John Caspari
Gold miners in Nevada looking for new deposits because of stable gold prices.

Stable gold prices are pushing Nevada's largest mining operators to look for new deposits. KUNR contributor Kaleb Roedel of the Nothern Nevada Buisness View has more. 

Nevada has more mining activity than any other state in the country.

Currently there are more than 180,000 active mining claims, with another 282 exploration notices active in the state.

Nevada miners produced more than 5.64 million ounces of gold and 8.47 million ounces of silver in 2017.

And, with the price of gold holding steady at around $1,200 an ounce for the better part of a year, mining companies are beginning to look for new veins of precious metals and minerals.

One of those expansions includes Barrick's Deep South project will extend underground mining operations at the company's mine in Cortez by chasing ore another 15,000 feet down from current mining operations at about 2,200 feet below ground level.

For more information visit the Northern Nevada Business View.

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