How long Nevada remains 'Silver State' of the US?
Silver has a special bond with Nevada as its deposits were a major reason for Nevada's admission into the United States in 1864 and still remains one of the driving force in the state's economy.
Nevada, the "Silver State" in the United States remained the highest producer of silver in the country during the first quarter this year and may overtake Alaska as the largest producer of silver in the U.S.
The United States produced 2,73,400 kilograms of silver (8,79,0013ozs) in the first three months of 2013, according to the U.S. Geological Survey.
Nevada mines produced 59,000 kilograms (1,896,894 ozs) during the first quarter of this year while other states mined a combined 213,000 kilograms (6,848,109 ozs).
The other primary silver states include Alaska, Arizona, California, Colorado, Idaho, Missouri, Montana, New Mexico, South Dakota, and Utah.
Nevada could become the largest silver producer in the U.S only because top producer Alaska is struggling to maintain production level, analysts said.
Silver has a special bond with Nevada as its deposits were a major reason for Nevada’s admission into the United States in 1864 and still remains one of the driving force in the state’s economy.
Nevada remains a nationally and internationally significant source of metals and minerals. Mining, particularly silver mining is Nevada’s ninth-biggest industry, but it remains at the core of the silver state’s identity and has been singled out for special treatment since its 1864 founding.
However, Nevada’s silver production is also declining sharply and dropped by about 70% in the last decade while gold production climbed and it became the top gold producer in the US.
State’s contribution to country's silver output was dropped sharply to 18% now from above 30% five years ago.
Nevada is clearly struggling to maintain its 'Silver State' status, analysts said. They added that the state needs to increase production from its only primary silver mine is the Coeur d’ Alene’s at Rochester to keep up production levels.
Meanwhile, depleting reserves at mines forced the US to import more silver. U.S imported 1,390,000 kilograms of silver during the first quarter of the year with the largest imports coming from Canada and Mexico.
Sumber : Google
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