A new analysis of the Nevada mining industry suggests Nevada remains the most attractive place in the U.S. to conduct mining operations. Despite a slide in mineral prices and complicated federal regulations that continue to prolong the opening of new Nevada mines, the Silver State leads the nation in best industry practices and investment attractiveness, according to the report. It was conducted by leading analyst Jeremy Aguero of Applied Analysis and commissioned by the Nevada Mining Association.
Although Nevada’s economy is growing, the mining industry’s gross domestic product (GDP) is declining – down 28.7 percent since 2012.
The industry has lost 1,200 jobs (9.8 percent of its workforce) since 2013. It is the only economic sector in Nevada that lost jobs during the last calendar year.
In 2014, the Nevada mining industry total economic output was $8.8 billion, down from $11 billion in 2013.
Despite current mineral prices, mining companies continue to invest hundreds of millions of dollars in existing Nevada operations, including exploration.
In 2014, the Nevada mining industry paid $246 million in state and local taxes.
Average annual wages in the industry are $91,936, more than double the state average (106 percent of Nevada average wages).
