The price of gold has been hovering around $1,300 an ounce lately, down more than 25 percent from its peak of over $1,800 in 2011. In times past, that would have been a sure signal for the bottom to fall out of the economy in many of Nevada’s rural counties, for which the boom-and-bust cycles of the mining business come as regularly as a spectacular desert sunrise. But, … [Read more...]
Elko Catches Up to Growth
While the rest of Nevada suffered the dramatic 2007 economic downturn and aftermath, the Greater Elko region boomed, primarily due to bustling mining operations resulting from a high gold price. In fact, over the last decade, the population there has burgeoned. The City of Elko alone went from about 10,000 to 20,000, with the broader Elko area home to about 30,000. “It’s … [Read more...]
Rural Nevada: Independent Spirit Alive and Well
Nevada’s rural economies are microcosms of the state’s economy, each with its own characteristics, strengths and weaknesses. While the rest of the country experienced the economic downturn, several of Nevada’s northeastern rural counties barely even blinked. As the economy dove and gold prices rose, mining counties like Elko are just now catching their breath as rapid growth … [Read more...]
Mining in Nevada: The State of the Industry
The state, and hence the future, of Nevada’s mining industry may hinge less on what legislators and Nevadans think of Senate Joint Resolution 15 (SJR15), which would remove the mining industry’s 5% tax cap on net proceeds from the Nevada Constitution, and more on how they perceive the mining industry in general: a bunch of dirty guys with pickaxes. The debate over tax policy … [Read more...]
Mining in 21st Century Nevada
Flannel shirt, pickax, maybe a battered tin for separating out the gold ore. That’s one historical and most likely imaginary picture of mining in Nevada. Nope, not accurate. Mining in the 21st century is a highly technical field that utilizes computer modeling, satellites and GPS locations. “A lot of mining operations have very large remote control of operations, so … [Read more...]
Rural Nevada: Micro-Economies in a Macro State
While Nevada is one of the hardest hit states and still battling its way back from the recent great recession, the Nevada economy is made up of micro-economies. The state as a whole saw 13.2 percent unemployment in March, but the rate varies by county. At first glance, it might be assumed that Nevada’s rural communities are struggling harder than the metro areas, that’s not … [Read more...]
