Gold & Silver Ore Mining in the US - Industry Market Research Report

Gold & Silver Ore Mining in the US - Industry Market Research Report

Gold & Silver Ore Mining in the US

The Gold and Silver Ore Mining industry explores and develops land to extract precious metals for sale in concentrate, dore and bullion form. Revenue is largely a function of mine output and the world prices of gold and silver. Revenue declined nearly every year during the current period as mine output slumped due to resource depletion and lower grades. Revenue only increased during the COVID-19 pandemic in 2020 when demand for precious metals as a financial instrument skyrocketed. Revenue has fallen at a CAGR of 2.6% to $10.2 billion through 2023, including a 5.1% decrease in 2023 alone.

Operators in this industry mine gold and silver-bearing ores. Mining activities include the development of mine sites and the on-site processing of ore into a concentrate or bullion. Companies typically retain ownership of the semiprocessed gold or silver products and pay for further refining on a toll-charge basis. The refining process is included as part of the Nonferrous Metal Refining industry (IBISWorld report 33141).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.