ELKO — Boom. Bust. Rush. Crash. These words are associated with the cyclical nature of the world’s minerals extraction industry known for making and breaking companies, economies, towns and fortunes.
Nevada – where mining has existed before statehood — has witnessed these ups and downs over time but now is experiencing a rather rare phenomenon in the mining industry.
“There has been a gold rush in Nevada for close to 50 years,” said John Muntean, an economic geologist and associate professor at the University of Nevada, Reno, who works for the Nevada Bureau of Mines and Geology.
The gold boom is the biggest in U.S. history, defined by high annual production and long life of mines, according to a Nevada mineral industry report that Muntean co-authored.
Decades-long production at operations, such as those along the Carlin Trend, defies the traditional ebb and flow of mining camps throughout the history of the state and world.