First Research US Industry Profile

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Gold & Silver Mining
SIC Codes: 1041, 1044
NAICS Codes: 21222
Last Quarterly Update: 5/13/2019
Companies in this industry develop mine sites, mine and quarry gold and silver, and prepare gold and silver for sale. Major companies include Canada-based Barrick Gold, Kinross Gold, and Goldcorp as well as Newmont Mining (headquartered in the US), AngloGold Ashanti (South Africa), KGHM (Poland), Fresnillo (UK-based with primary operations in Mexico), Glencore (Switzerland), and Polymetal International (UK).
Worldwide, the industry produces about 3,200 metric tons of gold and 27,000 metric tons of silver annually, according to Thomson Reuters. Of those totals, the US accounts for about 230 metric tons of gold and 1,000 metric tons of silver. Gold ore is primarily mined in China, Australia, Russia, the US, and Canada. Mexico, Peru, China, Chile, and Russia are the top silver production locations.
The US gold and silver mining industry includes about 190 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $13 billion.
Many gold and silver mining companies also mine for other metals. Mining of iron, nickel, copper, and other metals, including gold and silver, is covered in the Metal Ore Mining industry profile.
Competitive Landscape
Demand is driven by industrial production and economic growth. Individual company profitability depends on volume and operating efficiency. Large companies have more resources to devote to discovering and developing new deposits. Small companies typically own just one mine, limit exploration to that one property, and aim to operate it as efficiently as possible.
Products, Operations & Technology
Major products include gold ore (about 95% of US industry revenue) and silver ore (about 5%). Gold and silver are typically sold for financial investment ... plus:
Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms
Related Industry Profiles:

Historical Profiles (PDF format)

02/11/2019
11/05/2018
08/06/2018
05/07/2018
02/05/2018
10/30/2017
08/07/2017
05/08/2017
02/06/2017
10/31/2016
08/01/2016
05/02/2016
02/08/2016
11/02/2015
08/03/2015
05/04/2015
01/26/2015
10/27/2014
08/04/2014
05/19/2014
02/24/2014