US’s gold production advanced 2.6% to 237 tons in 2011

United States Goldproduction advanced 2.6% to 237 tons in 2011 according to a research note published by the United States Geological Survey (USGS) for this month. Meanwhile, US Silverproduction declined by 8.7% to approximately 1,160 tonsfor the same period.

According to USGS, the country produced 670 tons of gold and 1270 tons of silver in 2010

Gold marks the second consecutive increase in annual domestic production. Increased production from restarted mines in Montana and Nevada and from existing mines in Nevada accounted for much of the increase. These increases were partially offset by decreases in production from certain mines in Nevada and Utah. Because of the substantial amount of imports of Gold products, the United States was not a net exporter of gold in 2010 and 2011.

USA is the seventh largest Silver producer in the world. Alaska continued as the country’s leading silver producing State, followed by Nevada. Alaska is also the eighth largest silver mine in the world. The mine represents 17% of the Silver from the U.S. There were 21 U.S. refiners of commercial grade silver, with an estimated total output of 6,500 tons from domestic and foreign ores and concentrates, and from old and new scrap.

USGS (data updated on January 2012)

CommodityOnline

Tags: US gold production

Posted by admin on Jan 25 2012. Filed under Gold price. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry