Buy Land in Nevada

“Buy land in Nevada” might well be the mantra for individuals wise enough to understand the dichotomy at work in the state’s economy. On one hand, you have high unemployment, a substantial number of homes in foreclosure, and weak performing hotels and casinos. But on the other hand, you have a huge mining boom in the state that receives very little notice. 

Currently there are 1,300 mining operations in the state that employ 21,000 workers, and new mines that will employ thousands of new workers are currently undergoing the permitting process. The State of Nevada has always been a leading producer of gold, copper, and silver.  Nevada produces approximately 80% of all the gold mined in the United States and produces more gold than all but about five countries in the world.

Continuing global demand for copper in China, India, Russia, and Brazil has been part of the basis for the resurgence of mining activities in Nevada. Long-term projections indicate there are not nearly enough copper mines currently in operation to supply expected future demands. Copper is used extensively in cell phones, automobiles, and refrigerators, just to name a few products.

One of the largest of the mines currently in the exploration and development stage is Pumpkin Hollow, located in northern Nevada. This property is owned by Nevada Copper Inc. According to published reports, the company believes Pumpkin Hollow contains 10 billion pounds of copper, 2.3 million ounces of gold, 63 million ounces of silver, and 340 million tons of iron magnetite.

This mine, in full operation, could employ 500 workers whose average salary could be around $80,000 annually. Compare this to a current unemployment rate in the state of 17% and an estimated median household income of $53,000.

As can be seen, a growing and expanding mining industry could contribute significantly to Nevada’s economy. So if someone suggested that you should buy land in Nevada, it just might be extremely wise advice.

To view opportunities to buy land in Nevada, please click here.