June 02, 2014
In the latest edition of “Eye on Washington,” Natio...
Since silver was first discovered in Nevada, mining has played a major role in the economic health of the state. As the second-largest producer of silver in the U.S., it is no surprise that Nevada is often referred to as “the Silver State.” The resources, employment and economic opportunities that follow the Nevadan mining sector are impressive, but wouldn’t be possible without some of the major operators in the state.
A recent article in Silver Investing News highlights National Mining Association member companies, Newmont Mining and Coeur Mining as two of the state’s leading silver mining companies. With operations in Nevada since 1965, Newmont’s presence in the state spans 100 miles and includes “11 open-pit and eight underground mines, as well as 13 processing facilities.” Alternatively, Coeur Mining, the largest silver producer in the U.S., produced 2.8 million ounces of silver from its mine in Rochester, Nev., in 2013.
Because silver is a key component in modern technology, particularly in advanced energies, we rely on this mineral every day. Although Nevada is home to a large supply of silver, our duplicative and inefficient permitting process serves as a needless burden on production. Like many other critical U.S. industries, policies being debated in Washington could have a major impact on mining.
Just this past July, the House Subcommittee on Energy and Mineral Resources held a hearing on critical minerals encouraging the Senate to take up legislation that will bolster America’s mining sector. This would allow the increased production of important minerals like silver and strengthen the economy, not only within individual states, but also nationwide.