Nevada’s Mining Sector OutlookMineral Production, New Mines, Exploration,Critical Minerals, Trends and PredictionsVISION 2021: The Nevada Economic ForecastCollege of Business, UNRJanuary 22, 2021Michael Visher, AdministratorNevada Division of Minerals1Isabella Pearl Mine, Mineral County
Nevada Mining Summary - 2019In 2019 Nevada Mining provided32,976 Nevada Jobs. 5th leading producer ofGOLD in the WORLD! 2.6 Billion in total paid salaryNevada produced 10% of all U.S.mineral productionMines operate onless than ¼ of 1% ofNevada’s 70,798,080acres (Behind China, Australia,Russia, and Canada)20 minerals are producedin Nevada at over 100 mines 12.4B impact to Nevada’seconomy, representing 3.1%of GDPRanked 3rd best miningjurisdiction in the world(Fraser Institute, 2020)Lots of interest in newlithium (and other criticalmineral) production
1,800Nevada Gold1,6001,400Production1,2001,0002019 Production4.87 Moz, -13% vs. '1851% private vs. 49% public land31 mining operations18 operators?80060087654Price32200100Gold production, millions of troy 01320142015201620172018201920202021Gold price, /troy ounce2,000109
2019 NEVADA METAL PRODUCTION, BY PRODUCER - FinalRanked by gold productionOperatorNevada Gold MinesKinrossSSR MiningJerritt Canyon GoldHecla (Klondex)KGHM InternationalFlorida Canyon Mining (Alio Gold)Fiore GoldCoeurMcEwen MiningRawhide MiningGold Resource Corp.Hycroft MiningPremier Gold (40% of S. Arturo)Mineral Ridge GoldRuby Hill MiningBorealis MiningToquima GoldTotalsGold (ozs) Silver (ozs) Copper (lbs) Moly 356605154,868,0861,070,177954,3454,223NR181,741 958766,699
New Mining Operation for 2020Americas Gold and Silver – Relief Canyon, Pershing County Past production – 1986 to 1990 New construction began – May 2019 Stockpiled ore placed on heap leach– December 2019 First gold pour – February 2020 Full mine production by Q2 2021 Production target – 80-100 koz/yr Avg. Au grade - 0.8 g/t Current mine life – 6 years
0152016201720182019Silver price, /troy ouncesNevada silver356.28 Moz, -22% vs. '1825 mining operations14 operatorsProduction202530202515Price1510105Silver production, millions of troy ounces40302019 Production506
Nevada copper143.7M lbs, -0.6% vs. '183 mining operations3 operators*Pumpkin Hollow mine producedcopper concentrate but had nosales in 931992199101990201989Copper production, millions of pounds52019 productionCopper price, /pound20007
Nevada Copper’s Pumpkin Hollow Mine, Lyon County 2 deposits with 6 billion contained pounds of Cu Higher grade eastern deposit; underground Shallower western deposit; open-pit Main shaft and materials handling system completed Dec. 2020 First copper production occurred in Q4 2019 with temporarysuspension from April to August 2020 due to the pandemic The mine will employ 300 people 13.5 year mine life (underground) and 19 year mine life (open pit) Becomes Nevada’s 3rd copper producer in past 20 yearsHeadframe and stockpiles, July 2019
020182016201420121,50020102019464,334 tons shipped-7% vs. '185 operators#1 producer in on (1,000 short tons)Nevada BariteProduction 100 80Oil Price1,000 40500 20Average Annual Price per Barrel of Oil3,000 120 60 0
6,000,0005,000,000Nevada Limestone Production 1991-2019Tied to Construction Activity87# of Mines ReportingAmount Mined543,000,00032,000,00021,000,000100YearNumber of Mines 1120122013201420152016201720182019Amount Mined (Tons)6
961995Gypsum production, millions of short tons4.5Nevada Gypsum2019 Production3.0 M tons6 producersTied to ResidentialConstruction needfor Sheetrock2.521.510.5
Other Industrial Minerals Produced in 2019 7,900,000 lbs of lithium carbonate*1,900,000 tons of gypsum618,000 tons of silica sand119,000 tons of magnesite*276,000 tons of diatomite24,500 tons of salt2,200 tons of perlite* Only producer in US12
The Demand for Lithium The Tesla/Panasonicbattery factory aloneneeds 5X theamount of lithiummined annually inNevada.
Lithium in Brine vs. Lithium in Clay/RockLithium Brine Albemarle’s Silver Peak mine is onlylithium mine in US, operating since1966.Solar evaporation in ponds over 1824 months increases concentrationof lithium chloride prior toprocessing into lithium carbonate.Cheaper processing costs but lowerrecovery %s.Requires placer mining claims andsignificant water rightsRequires significant quicklimeconsumptionNewer technologies may notrequire same timeframe orconsumptive water use17 other playa basins in Nevadabeing exploredLithium in Clay/Hard Rock No current mines, but 3 projectsare in various stages ofpermitting:– Thacker Pass, Humboldt Cty– Rhyolite Ridge, Esmeralda Cty– TLC Project, Nye Cty Resources typically very largewith long mine-life Processing is more expensive butyields higher recovery %s Requires location of lode miningclaims Much less water consumption buthigh sulfuric acid consumption Many additional explorationprojects
Lithium Americas – Thacker Pass Project Reserves – 3.1M tonnes LCE at2,358 ppm Li Strip ratio – 1.6:1 Mine life – 46 years Processing time - 24 hours Lithium recovery – 83% Pilot plant operational in Reno BLM issued Record of Decision onJanuary 15, 2021 Production target is Q3 of 2022
ioneer’s Rhyolite Ridge Project
American Lithium – TLC Project Measured and indicated resource of5.4 Mt lithium carbonate equivalent Lithium ore at the surface Preliminary metallurgical testsindicate 90% recovery in 10minutes using sulfuric acid leach Economic analysis is underway
NEVADA MINING CLAIMS 208,109 Active Mining Claims(Assessment Year 2021) inNevada as of 12/28/2020 Increase of 1.7% fromOctober 2019 50% of all US mining claims Claims are 20 acres in size Annual maintenancepayments of 165/claim toBLM and 12/claim to countyrecorder 34M to BLM 2.6M to Nevada counties
35 minerals identified as “CriticalMinerals” by D.O.I. in May, 2018. Minerals selected are deemed “vitalto the Nation's security andeconomic prosperity.” Nevada contains known occurrencesor deposits of 20 of the 35 criticalminerals 2 Exploration for cobalt, graphite, REE,Tungsten, Vanadium in progress.
TRENDS & PREDICTIONS Metals mining is increasingly underground, 30% now. Copper is #2 in gross value and increasing Limitation is lack of downstream smelting and refining Electric vehicles vs. gas require 5-8X more copper Industrial mineral production in NV likely to increase as it iseasier to put into operation than in other western states Increase in # of projects being permitted largely due to increasedgold price but also in relation to increased demand forcommodities needed for renewable energy and batteries (Co, Li,Ni, V, Zn) If one or more Li clay project progresses, NV will produce 10% ofworld production, would then expect vertical integration with acathode plant built in NV. Increasing geothermal energy production Escalation in investor interest on the value of environmental,social and corporate governance (ESG)
For More Info: Agency Homepage:minerals.nv.gov “Mining” program page Production summaries and stats Numerous free publications and maps “Current Information” Links to our Distance LearningEducational Videos Recent Presentations “Important Links - Open Data Site” Interactive web mapping application todisplay and download informationrelated to the minerals industry. Location of mining claims, current andhistorical exploration activity andmineral production. Public lands issues New “Mining in Nevada” page
Nevada Mining Summary - 2019 In 2019 Nevada Mining provided 32,976 Nevada Jobs. 2.6 Billion in total paid salary 5th leading producer of GOLD in the WORLD! (Behind China, Australia, Russia, and Canada) 20 minerals are produced in Nevada at over 100 mines 12.4B impact to Nevada's economy, representing 3.1% of GDP Ranked 3 rd best mining
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enable mining to leave behind only clean water, rehabilitated landscapes, and healthy ecosystems. Its objective is to improve the mining sector's environmental performance, promote innovation in mining, and position Canada's mining sector as the global leader in green mining technologies and practices. Source: Green Mining Initiative (2013).
Nevada Mining Summary. In 2021, Nevada mining employed 15,000 workers at an average salary of 103,000 ( 49.52/hr) In 2021, NV produced 77% of all US gold and ranked 5th in global production (behind China, Australia, Russia, and Canada) 20 commodities are produced from 150 mines in Nevada 14B impact to Nevada's economy Nevada is ranked 3
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