Mining Companies in Pershing County, Nevada
Nevada's Pershing County remains a popular spot for a variety of gold and silver mining companies, including established "majors" and younger "juniors." The following is a list of companies with land in Pershing County, Nevada. The county serves as a hot spot for mineral resource extraction, especially gold and silver. Some of the famous mines in the county include the Rochester, Spring Valley, Relief Canyon, Standard, Willard, and Colado mines.
Newmont Mining Corporation (NYSE: NEM)
Newmont Mining is a primary gold producer founded in 1921 with assets around the world. It is the only gold company included in the S&P 500 Index and Fortune 500, and employs over 43,000 nationwide. In the Nevada properties alone, Newmont operates 14 open-pit sites, 14 processing plants, and four underground sites. In addition to gold production, they also produce silver and copper. Pershing Gold (OTC: PGLC), below, has mineral claims south of some of their Pershing County operations. Newmont's Nevada operations have been in effect since 1965. The Nevada mining site stretches across a 100-mile long highway and produces significant amounts of gold annually.
Pershing Gold (OTC: PGLC)
Pershing Gold is a gold company formerly known as Sagebrush Gold. It focuses its efforts in the under-explored Pershing County areas along the southern borders of Newmont Mining's property. The company is currently focused on putting its Relief Canyon Mine back into production and expanding the current mining area. Pershing Gold is also focusing on making strategic acquisitions of mining properties around the Relief Canyon Mine area. The mine has produced gold since 1984, but has been in a maintenance stage for the past several years. This past March, the company announced it would acquire 9,700 acres of mining claims in the area.
Renaissance Gold (TSX: REN)
The Vancouver-based gold company's Trinity Silver project is 25 miles northwest of the Rochester Silver Mine and 10 miles southeast of the Seven Troughs gold district. Renaissance leased the Trinity properties from Newmont Mining (NYSE: NEM) in 2005. Silver mineralization was discovered at Trinity by U.S. Borax in 1981, according to Renaissance. The company has multiple Nevada projects.
Allied Nevada Gold (NYSE: ANV)
Allied's Hycroft mine yielded first-quarter production of 32,473 ounces of gold and 166,156 ounces of silver. Production is expected to ramp up through the remainder of 2012, and is on track to meet previously stated guidance of between180,000 and 200,000 ounces of gold. Allied said its first-quarter gold mining costs were $531 per ounce, but the company expects costs of $475-$495 per ounce for all of 2012.
In addition to its advanced properties, Allied Gold has about 100 early-stage properties in its home state of Nevada.
Franco-Nevada (NYSE: FNV)
Franco-Nevada is a Canadian gold royalty firm with a significant Nevada footprint. The company also has operations in Canada, South Africa and Mexico and also has interests in platinum metals properties as well as oil and natural gas exposure. Franco-Nevada says its balance sheet is debt free and some believe it could have $1 billion in cash by the middle of this year.
Coeur d'Alene Mines Corporation (NYSE: CDE)
Coeur d'Alene Mines Corporation is the largest US-based silver producer and a growing company in the gold mining industry. In 2012 alone, the company plans to produce between 18.5 million and 20.0 million ounces of silver and between 210,000 and 230,000 ounces of gold. Although Coeur mines around the world, its Nevada location is its oldest mine, operating since 1986. A new leach pad was constructed on-site in 2011 at a cost of $27 million.
Silver Standard Resources (NASDAQ: SSRI)
This Canadian small/mid-cap company (around $1B market capitalization) is involved with a joint venture with Allied Nevada at the Maverick Springs property. Maverick Springs, which is located in Northern Nevada, is home to gold and silver deposits. Silver Standard has the rights to the silver and Allied Nevada has the rights to the gold.
Silver Standard also owns the Candelaria Mine Project in Western Nevada, which has had historical production of 68 million ounces of the white metal. The property was formerly owned by a unit of Kinross Gold (NYSE: KGC).
All companies listed above operate at least partially in Pershing County, NV. Land is often acquired in the county for mining purposes.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.