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The Future of Nevada Mining: A New Joint Venture's Effect on Northern Nevada Communities

By Reannon Muth on Oct 8, 2019
Posted in Mining

"If you are a gold miner, Nevada is the best address in the world."

- Greg Walker,

Executive Managing Director at Nevada Gold Mines, as reported by the Northern Nevada Business View

Mining has been the backbone of Nevada's economy throughout the state's history. And if recent news reports are any indication, this isn't likely to change any time soon. The mining industry in Nevada has been doing well in recent years. So well, in fact, that mineral exploration spending in Nevada mines is up by 31 percent and a recent survey  revelead Nevada to be the "the world's top jurisdicton for mining investment in 2018."

One of the mining industry's major players is the newly formed Nevada Gold Mines, which is expected to add approximately $480 million in value each year. Nevada Gold Mines is the result of a 2019 joint venture between Barrick Gold Corporation and Newmont Goldcorp Corporation (Read our article: 5 Important Developments in the Nevada Mining Industry in 2019 to learn more). Representatives at Nevada Gold Mines as well as the mayor of Elko are hopeful that this new venture will bring positive changes and economic growth to communities in Northern Nevada. 

Below are a few of the projected changes:

1. Less trucks on the road

By joining forces to create Nevada Gold Mines, Barrick Gold and Newmont Goldcorp now share assets and "access to each other's facilities," reports Northern Nevada Business View. This has allowed them to shorten truck routes, effectively reducing the amount of time haul trucks spend on public highways, which Nevada Gold Mines Executive Managing Director Greg Walker says will decrease public road damage and improve highway safety. Less trucks on the roads naturally "reduces opportunity for (safety) incidents," Walker told the Northern Nevada Business View.  

2. Continual job growth

Currently, 7,000 Nevadans are employed through Nevada Gold Mines. The mayor of Elko, Reece Keener, says he beleives Nevada Gold Mines and the Elko region will have a symbiotic relationship; each depending on one another to be successful. He reported to the Northern Nevada Business View that Nevada Gold Mines "are engaged in expanding local healthcare services, education and development on the economic, broadband, air service and workforce fronts, and these initiatives will move Elko forward and make us a more prosperous community, now and into the future."

3. More mining exploration

According to Walker, plans are in place for Nevada Gold Mines to explore more mines in the area over the next to two to three years. He said this will be made possible because Nevada Gold Mines has a high cash flow in additon to its own exploration group.

4. College scholarships

Nevada Gold Mines provides scholarships for those seeking an Associate or Bachelor degree in Applied Science as well as for those seeking an AAS degree in emergency medical services or nursing or a Bachelor of Arts degree in education. This means that Nevada residents who may not have previously been able to pursue an advanced degree can now become paramedics, mechanics, nurses, teachers and more. Details are available in the Elko Daily Free Press.

About Blue Diamond Machinery: Blue Diamond Machinery is an independently-owned heavy equipment company that rents and sells mining equipment across Nevada and the American Southwest. Read our About Page to learn more. 

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