Rocky Mountain Mining Industry Heating Up

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). A continuation of strong metal prices is causing the U.S. mining industry to heat up, with a surge in project development for hot metals, such as gold, copper, and even nickel. This is especially true, but not limited to the heart of the country’s mining industry, which is in the Rocky Mountain Region. There are some areas outside of the Rocky Mountains, which are seeing increased activity, such as in Minnesota where project activity has picked up at iron ore mines. Iron ore, the feedstock for steel making, is in high demand as U.S. steel mills operate at near capacity.

Click on the image at right to view the U.S. Mine Distribution & Employment Table.

Gold has consistently hovered over the $400 per ounce price for most of the year and is making once non-feasible projects feasible. Both Newmont Mining Corporation (NYSE:NEM)(Denver, Colorado) and Placer Dome (NYSE:PDG)(Vancouver, British Columbia) have announced major expansion and/or gold mine additions, along Nevada’s prolific Battle Mountain-Eureka mining trends. Other smaller operations, such as New Sleeper Gold LLC (OTC:NWSJF) (Reno, Nevada) and U.S. Gold Corporation (OTCBB:USGL)(Lakewood, Colorado), are planning to open gold mines in the state.

Copper demand is up as well, which has sparked a series of mine/smelter restarts in the Rocky Mountains for companies like Phelps Dodge Corporation (NYSE:PD) and Asarco, a subsidiary of Grupo Mexico. In June 2004, Chino Mines Company, a subsidiary of Phelps Dodge restarted the copper concentrator at its mine in Hurley, New Mexico, after being shuttered for more than three years. A month and a half ago, Robinson Nevada Mining Company, a subsidiary of new kid on the block, Quadra Mining Limited (Vancouver, British Columbia) restarted operations at the Robinson Copper Mine, located near Ruth, Nevada. Quadra purchased the mine in April 2004 from BHP Billiton, which had built the $250 million operation in 1996. The Robinson mine had been closed since 1999 due to depressed copper prices. Concentrate is being railed to West Coast ports for shipment to Asian markets.

Kennecott Minerals (Salt Lake City, Utah) is exploring options to open a new nickel/copper mine in upstate Michigan. These developments bode well for mine workers, contractors, and equipment suppliers servicing the mining industry, as the increasing mine development translates to new jobs and new mines.

According to Industrialinfo.com’s North American Industrial Database, the U.S. is home to about 600 major mining operations. About 20% of those are located in the Rocky Mountain region states of Arizona, Colorado, Idaho, New Mexico, Montana, Nevada, Utah, and Wyoming.

Gain access to plant management contacts, phone numbers, and addresses for these mining operations with Industrialinfo.com’s Rocky Mountain Online Plant Directory. Click on the image at right to try out a free demonstration.

View Plant Profile – 1017307 1018278
View Project Reports – 48000122 48000052 48000203 43000238 18001968

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