The US is Now the Preferred Destination for Gold Mining Companies

[Clay Diggins]

According to a recent article by Forbes’ columnist Tim Treadgold, gold mining companies are earning more from US based mines than anywhere else in the world.

Simply put, the United States has become the go-to destination for gold mining companies.

Read the rest HERE.

Heavy Pans

 

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[Terry Soloman]

So some think it's just "smoke and mirrors." What else is new?

 

[russau]

according to this article (similar to what Terry said) "numbers don't lie"........YES numbers can a will be lied about IF any money is involved and IF ANY socalled "representative" of ours or wacoenviromentalists is moveing their lips ! Even during the Veit-Nam war/police action military field officers and the brass lied / inflated about the kill count and now our own gubermint offices (EPA) lie..........Without telling the entire story (pros /cons) you are NOT getting the whole story and their story has a biased or slanted view and it becomes a twisted story OR in my way of thinking ,a LIE!

 

[kcm]

according to this article (similar to what Terry said) "numbers don't lie"........YES numbers can a will be lied about IF any money is involved and IF ANY socalled "representative" of ours or wacoenviromentalists is moveing their lips ! Even during the Veit-Nam war/police action military field officers and the brass lied / inflated about the kill count and now our own gubermint offices (EPA) lie..........Without telling the entire story (pros /cons) you are NOT getting the whole story and their story has a biased or slanted view and it becomes a twisted story OR in my way of thinking ,a LIE!

I have to agree. There's a lot I was expecting to see in such an article that just wasn't there. Wish I could blame it on poor modern media, but....

 

[Clay Diggins]

Facts?

When breaking down production and cost between the four divisions, however, the clear cut winner was the Americas unit.

According to Bank of America Merrill Lynch, the division produced gold at $765 per ounce, almost $100 an ounce less than AngloGold’s operations in Africa — which should be the cheapest mining destination.

AngloGold’s African operations produced gold at $846/oz and the company’s Australian mines at $850/oz.

Fact or opinion?

The United States comes in third on our list of the Top 10 Gold Producing Countries. With three quarters of the U.S. gold coming from just five states (Nevada, Alaska, California, Colorado, and South Dakota), most of the gold produced today comes from large open-pit heap leach mines. Nevada is responsible for almost 74 percent of the United States’ total production of gold, supplying more than 10 percent of State GDP. The USA is the world’s largest holder of sovereign reserves of gold, with nearly 26 percent of the world’s totals.

Read more HERE.

Really Really Heavy Pans ... 231.3 tonnes annually

Go get u sum!

 

[Nitric]

Can you imagine what those numbers would be if it was a little more ....."friendly"(?)...to mining! I keep thinking back to the mine in GA, that isn't allowed to touch it. I really don't know all the details to that.....But if what they told us was true? Then let them open and run the mine!!! It's jobs, it's money for the local community and all business that is needed to support it.....

What would our production be if some changes were made and it was encouraged on all scales?

 

[Oddjob]

Read the rest HERE.

Heavy Pans

Nice read man, I always figured that the US was the preferred location due to the lack of corruption and laws that govern the industry or hobby compared to other nations.

We have a place in Switzerland and only pay about 40 bucks a year to prospect there but certain environmental laws really slow things down on how it is extracted.

In Germany it just depends on what state you get your permit from and what cops you have to pay off, but the gold there is crap.

In Romania the gold is amazing if you you can get to it; then it is up to you if you are going to do it legal or not. When we went in for our permits there they tried to act like we had to pay thousands of dollars to prospect, then we showed our Interpol creds and asked how they felt about making headlines for corruption. Yeah it cost us about 13 bucks a year to play there.

Norway is also great, the sort of bush you can walk out with 12 ounces after a days work on a small Keene dredge, you just have to either sell there or smuggle it out. Selling there means taking 30% off the top.

Parts of Northern Africa is pretty nice if you are ready to pull your weapon on corrupt cops that try to rob you.

Greenland is really good too, but it just depends on how their government feels that day. Meaning if someone in that office has found something nice online they want to buy then you get to pay for it, and they do not care about making headlines.

I do not know anything about the industry its self, it is just a hobby and I never did better than 15 ounces in a day and never did it longer than 18 days in a row because I have a job and it is just my hobby. However with it being my hobby I can think of better places than the US I would prospect, but if I did it for a living then I would go to the US or CA because they have set laws in place and stand by them.

My brother in law makes his living this way; he is a German National but some year ago went to the US for a resident visa. He was very honest with them and let them know he had about 20 million dollars he wanted to put on an account in the US and pay US taxes rather than taxes in his own nation. They opened them doors real fast for him. He travels all over to some pretty messed up places for gold and platinum, but it always ends up in the US.

 

[goldenIrishman]

I read the article earlier this morning and have been thinking about it since then. Having seen first hand how tough the permitting process has gotten to be here in the states, (I'm thinking the Rosemont project near Greaterville here) I'm wondering if if the author took that into consideration as he was writing the article up. Between the EnviroNuts fighting to keep any large operation from getting off the ground, Governmental red tape (miles and miles of it at the best of time) A company has got a very sizeable investment going before they can even break ground and start producing. I can't help but think that these facts were either ignored or overlooked when they ran their numbers. I don't consider any business as being profitable until all of the initial overhead has been earned back. Making that initial investment back can take several years unless they happen to be working some VERY rich ground.

 

[kcm]

I've kinda been thinking about this as well. The more I think, probably the farther from the point I'm getting - but it's almost sounding like propaganda in some ways. It's talking up mining in the U.S., as though things work really great here. And in some areas, maybe it does. Same in Canada - some areas the gov't works with the miners, and other areas it doesn't. But what if.....?!?!? What if this piece is sort of a propaganda piece that is trying to paint a rosier picture than reality??

 

[Nitric]

I've kinda been thinking about this as well. The more I think, probably the farther from the point I'm getting - but it's almost sounding like propaganda in some ways. It's talking up mining in the U.S., as though things work really great here. And in some areas, maybe it does. Same in Canada - some areas the gov't works with the miners, and other areas it doesn't. But what if.....?!?!? What if this piece is sort of a propaganda piece that is trying to paint a rosier picture than reality??

I saw it more as......"Pep rally" type of thing. That's the only word I can think of .

I've seen those stats before, and for years now. Give or take a few numbers either way.....Get people motivated!! More than even though the negatives are still against it..

I would like to see some of the operating mines one day...That would be cool to see!

 

[dave wiseman]

.....And where are the mines opening up in California?

 

[kcm]

Well, I'm just saying - this is a major election year and, without getting into politics, you KNOW there's gonna be a lot of propaganda flying around this season! In this instance, "IF" (<-- that's a BIG if) this is in any way a propaganda piece, then it "MIGHT" have the intention of trying to make things on the home front a little more comfy than what it was at, say, this time last year.

...I really don't know. There is absolutely NO way I can know even a little whether this piece is politically motivated or not. Just seems a little funny (to me) that it would come out at this particular time.

 

[Nitric]

Well, I'm just saying - this is a major election year and, without getting into politics, you KNOW there's gonna be a lot of propaganda flying around this season! In this instance, "IF" (<-- that's a BIG if) this is in any way a propaganda piece, then it "MIGHT" have the intention of trying to make things on the home front a little more comfy than what it was at, say, this time last year.

...I really don't know. There is absolutely NO way I can know even a little whether this piece is politically motivated or not. Just seems a little funny (to me) that it would come out at this particular time.

That could work two ways...In my thinking, it promotes backing/investing in U.S. mines or exploration companies. A push! Maybe?

I see what your saying...and I could see it being twisted to what your saying by a political party too.......or group. If I read that right that was in 2014?...So, it was written a while ago...



But the numbers are out there..on the net. I've been hearing some of that since 2007, when I started trying to understand Gold.And still not sure that I do!

 

[kcm]

Ah, my mistake. I thought this was a recent article. ...Well, there were mid-terms in 2014. Dems lost a lot of seats. ...But then, I'm not talking "politics" here - just seating arrangement.

Mental note to self:
...Gotta start looking at dates better! I keep making the SAME mistake over and over! ...Will I ever learn?? -- -- -- I got a headache.

 

[Clay Diggins]

It's always wise to question the intent of any media article. The conclusions of the Forbes staff writer in the title article really aren't supported in this brief rehash of the original Forbes story.

But the fact is the third largest gold company in the world AngloGold Ashanti can mine gold more cheaply in the United States than in any of the other 21 major gold mines they operate worldwide.

The worlds second biggest gold mining company Newmont is a U.S. company with it's international headquarters in Colorado. They operate the Cripple Creek and Victor mine in Colorado both of which have increased production this year. The Newmont Mining operations worldwide produce gold at an average cost of $876 per ounce. The Newmont Colorado mines produce gold at $475 per ounce.

The worlds biggest gold miner is Canadian based Barrick Gold. They operate 26 gold mines in 8 countries. Barrick has been losing money for the last several years unlike AngloGold Ashanti and Newmont Mining. They are trying to sell off their mining projects in Zambia, Chile, Papua New Guinea and Australia. World wide their average cost of production per ounce of gold is $864. Their Nevada mines have a cost per ounce of $520-$550.

Where would you mine if you were one of the big boys?

Heavy Pans

 

[Nitric]

Thanks! I was trying to track down and dig deeper into the article..I didn't know enough to know where to go next! I looked at the top 10 mining companies to work for. Then started wandering through the articles....Before I knew it I was off somewhere else side tracked and forget why I started!!

This is kind of a side topic...If they can mine cheaper what effect if any does that have on price? Or doesn't that play into it too much since Gold works a little different than most anything else. That gets confusing to me. I know, the guy that was trying to teach me watched Newmont(?) and some others....I never did learn what he was watching..but he watched a bunch of different things and predicted it more than not....I would love to know what he knew!!! Or maybe he was just lucky some times and I never heard about all the failures!! That is possible too!

 

[Aufisher]

Lower cost, same price= higher margin

 

[mendoAu]

The way I see it is that the seller does not set the price...the buyer does. And the biggest buyers come from countries that have no gold to mine.

 

[russau]

As screwed up our laws are and having to put up with the wacoenviromentalists here in America , the good ole U.S.A. is still way better than the #2 Country in the world! I wouldn't want to live anywhere else !

 

[spaghettigold]

Nice read man, I always figured that the US was the preferred location due to the lack of corruption and laws that govern the industry or hobby compared to other nations.

We have a place in Switzerland and only pay about 40 bucks a year to prospect there but certain environmental laws really slow things down on how it is extracted.

In Germany it just depends on what state you get your permit from and what cops you have to pay off, but the gold there is crap.

In Romania the gold is amazing if you you can get to it; then it is up to you if you are going to do it legal or not. When we went in for our permits there they tried to act like we had to pay thousands of dollars to prospect, then we showed our Interpol creds and asked how they felt about making headlines for corruption. Yeah it cost us about 13 bucks a year to play there.

Norway is also great, the sort of bush you can walk out with 12 ounces after a days work on a small Keene dredge, you just have to either sell there or smuggle it out. Selling there means taking 30% off the top.

Parts of Northern Africa is pretty nice if you are ready to pull your weapon on corrupt cops that try to rob you.

Greenland is really good too, but it just depends on how their government feels that day. Meaning if someone in that office has found something nice online they want to buy then you get to pay for it, and they do not care about making headlines.

I do not know anything about the industry its self, it is just a hobby and I never did better than 15 ounces in a day and never did it longer than 18 days in a row because I have a job and it is just my hobby. However with it being my hobby I can think of better places than the US I would prospect, but if I did it for a living then I would go to the US or CA because they have set laws in place and stand by them.

My brother in law makes his living this way; he is a German National but some year ago went to the US for a resident visa. He was very honest with them and let them know he had about 20 million dollars he wanted to put on an account in the US and pay US taxes rather than taxes in his own nation. They opened them doors real fast for him. He travels all over to some pretty messed up places for gold and platinum, but it always ends up in the US.

12 ounces with a small keene dredge in norway,hmm..i have a very good friend with norway citicenship so i look in the net for info and find this;http://norden.diva-portal.org/smash/get/diva2:842595/FULLTEXT01.pdf .....i,ve only read the chapter about norway a bit and my head aches,partly because english is not my motherlanguage but then;sustainable mining,precautionary principle ,etc.etc. The whole agenda 21 hypocrisy.. Does this apply for dredgers?

thanks,Emilio