Gold continues to elicit strong interest on the mining and investment front. Prices finding support above the $1700 an ounce level could as well explain the increased exploration and mining activities around the precious metal. Similarly, Nevada has risen the realms to become the world’s top mining destination.
Nevada Mining Industry
The state is already home to some of the biggest mining portfolios led by some of the biggest companies. Its edge as a top mining destination stems from its best practice for mineral potential and policy perception.
Blackrock Silver Corporation (TSXV:BRC) (OTCQB:BKRFF) is one such company that has set a base in the state focused on both silver and gold mining. The company continues to attract significant interest thanks to multiple high-grade discoveries within the Tonopah West Property. The company has already recorded more than 13,000 meters of drilling since the start of the year at the project.
Barrick Gold Mines (NYSE:GOLD) (TSX:ABX) is another mining heavyweight with a huge presence in Nevada. In partnership with New Mont Corporation, the company established Nevada Gold Mines that pursue gold mines in the state.
Nevada Sunrise Gold (TSXV:NEV) (OTCPK:NVSGF) is another company flexing its muscle in the Nevada mining industry. The company has resorted to partnerships with the likes of New Placer Dome Gold Corporation for exploration and mining activities at the Kinsley Mountain Gold Project.
Even as companies set sights on Nevada mineral reserves, others have sought to explore mineral reserves across the Atlantic. Tietto Minerals Ltd (ASX:TIE) is one such company poised to be a West Africa gold miner following an impressive pre-feasibility study at its flagship Abujar Gold project in Ivory Coast.
The pre-feasibility study is exploring 200,000 ounces of gold in the first year of production at the mine, with more than 168,000 ounces of gold set for annual production for the next six years. The flagship project has a maiden open pit probable reserves of about 15.7 million tones run of mine gold ore.
According to Tietto managing director Caigen Wang, the metrics are compelling and clearly show the Abuja mine’s development will transform the company into a major gold miner in West Africa.