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U.S. mined silver output down 12% in July 2012 - U.S. Geological Survey
The U.S. Geological Survey reported nearly 4.31 million ounces of gold production from U.S. mines during the first seven months of this year.
Posted: Thursday , 11 Oct 2012
RENO (MINEWEB) -
U.S. mines produced 20,800 kilograms (668,736 troy ounces) during the month of July with an average daily gold production of 671 kg (21,573 oz.), the U.S. Geological Survey reported.
The agency reported total U.S. mined gold production of 134,000 kg (4,308,200 oz.) during the period from January to July. Nevada was the top-producing gold mining state with 17,400 kg (559,423 oz.) of production during that period.
The United States exported a total of 424,000 kg (13,631,916 oz.) of gold ores and concentrates, doré and precipitates, and refined bullion between January and July with most of the gold exported to Switzerland, the United Kingdom, and India.
The U.S. also imported 188,000 kg (6,044,340 oz.) of gold during the same period, in particular to Mexico, Columbia, and Peru.
The U.S.G.S. also reported U.S. mines produced 80,500 kilograms (2,588,140 oz.) of silver in July, a 12% decrease compared to July 2011.
"Silver holdings in exchange-traded products (ETP) reached their highest level in 14 months in mid-July, and provided a short-term boost to silver prices but not enough to cause the monthly average to increase," said the agency. "Physical holdings in major silver ETP increase a net 141 metric tons by the end of July 17 to 18,200 t of silver, a level last seen in May 2011."
For the period from January to July, U.S. mines reported 579,000 kg (18,615,300 oz.) of silver production with 130,000 kg (4.18 million oz.) coming from Nevada mines.
The United States reported total silver imports of 3.22 million kg (103,525,405 oz.) from January to July with the majority of imports coming from Mexico, Canada and Belgium. Total silver exports during the same period were 4.08 million kg (131,175,047 oz.) with the majority of U.S. mined silver exported to Canada and Mexico.