Mineral Industry Surveys

For information, contact: 

Micheal W. George, Gold Commodity Specialist 

U.S. Geological Survey

989 National Center 

Reston, VA 20192

Telephone: (703) 648-4962, Fax: (703) 648-7757

E-mail: mgeorge@usgs.gov 

Mahbood Mahdavi (Data)

Telephone: (703) 648-7778 

Fax: (703) 648-7975

E-mail: mmahdavi@usgs.gov 

Wanda G. Wooten (Mine Data) 

Telephone: (703) 648-4980 

Fax: (703) 648-7975

E-mail: wwooten@usgs.gov

Internet: http://minerals.usgs.gov/minerals

GOLD IN AUGUST 2006

U.S. mines produced 18,100 kilograms (kg) of gold in

August, a 10% decrease compared with that of July, according 

to the U.S. Geological Survey. The daily production rate of 

gold in August was 583 kg, 18% lower than the 2005 annual 

average daily production rate of 713 kg and 10% less than the 

July average rate of 650 kg. 

Engelhard Industries’ average gold price for August was 

$633.78 per troy ounce, slightly less than the average July price. 

Apollo Gold Corporation (Denver, CO) announced that it has 

entered into a joint venture with Elkhorn Tunnels, LLC, an

affiliate of Calim Private Equity, LLC (Aspen, CO), to restart 

the gold-silver-lead-zinc Montana Tunnels mine in Jefferson

County, MT. Mine activity was suspended in October 2005 

owing to the instability of the pit wall and closed in May 2006. 

Mine workers filed a class-action suit claiming that Apollo

broke a contract by failing to provide a 60-day notice of

termination and severance pay when Apollo suspended mining

(Jones, 2006).

Goldcorp Inc. (Vancouver, British Columbia, Canada) signed

a merger agreement with Glamis Gold Ltd. (Reno, NV) on 

August 31. The deal, subject to the acceptance of two-thirds of 

Glamis’s stakeholders, is expected to close in November. The 

new company will have the potential to produce 62,000

kilograms per year of gold and has gold reserves of 1,700 metric

tons (Adams and Yee, 2006).

References Cited 

Adams, Ovid, and Yee, Alvin, 2006: Glamis merger to move miner Goldcorp to 

new level: Platts Metals Week, v. 77, no. 36, September 4, p. 5-6.

Jones, Sherry, 2006, Montana Tunnels to restart production, lawsuits pending: 

Platts Metals Week, v. 77, no. 35, August 28, p. 11-12.

U.S. Department of the Interior November 2006 

U.S. Geological Survey 
Other

Nevada States2 Total

2005:p

August 19,700 3,870 23,600

September 19,600 3,930 23,600

October 18,700 3,440 22,200

November 18,100 3,650 21,700

December 19,500 3,420 22,900

January-December 217,000 43,700 260,000

2006:

January 15,200 3,170 18,400

February 14,800 3,390 18,200

March 18,400 4,110 22,500

Aprilr 15,700 3,780 19,500

May

r 15,200 4,290 19,500

Juner 15,400 4,170 19,600

July 15,500 4,670 20,100

August 14,000 4,070 18,100

January-August 124,000 31,600 156,000

TABLE 1

(Kilograms)

2

Includes Alaska, Arizona, California, Colorado, Idaho, Montana, New 

Mexico, South Dakota, Utah, and Washington.

MINE PRODUCTION OF RECOVERABLE GOLD IN THE UNITED 

STATES, BY STATE1

p

Preliminary. rRevised. 1

Data are rounded to no more than three significant digits; may not add to 

totals shown.

2
Engelhard Industries:

2005:

Low/date 412.45 Feb. 8

High/date 538.06 Dec. 12

Average 446.20

2006:

June:

Low/date 568.61/20

High/date 643.54/5

Average 597.81

July:

Low/date 607.38/24

High/date 665.03/14

Average 636.62

August:

Low/date 615.09/29

High/date 656.16/2

Average 633.78

Year to date:

Low/date 526.29 Jan. 5

High/date 726.88 May 12

Average 602.94

Handy and Harman:

2005, average 444.79

2006:

June 596.15

July 634.89

August 632.10

Year to date 601.11

London Final:

2005, average 444.88

2006:

June 596.15

July 633.71

August 632.59

Year to date 601.30

TABLE 2

 GOLD PRICES

(Dollars per troy ounce)

Source: Platts Metals Week.

3
Waste Metal Gold

Ores and Doré and Refined and scrap powder compounds

Period and country concentrates2 precipitates bullion3 Total4 (gross weight) (gross weight) (gross weight)

Imports for consumption: 

2005 1,630 234,000 105,000 341,000 27,300 1,990 29,500

2006:

May 139 11,000 12,400 23,500 4,520 42 9,050

June 374 8,850 10,200 19,400 3,830 267 608

July:

Brazil -- -- 495 495 -- -- --

Canada 332 5 3 5 8,190 8,530 144 5 49 5 --

Chile -- 1,400 500 1,900 -- -- --

Colombia -- 423 117 539 603 5 -- --

Costa Rica -- -- 2 5 2 139 5 -- --

Dominican Republic -- -- -- -- 1,450 5 (6) --

Germany -- -- -- -- -- -- 1,030 5

Guatemala -- 1,380 5 -- 1,380 -- -- --

Honduras -- 319 -- 319 43 5 -- --

Japan -- -- -- -- -- -- 2,000 5

Mexico -- 37 4,210 5 4,240 694 5 4 5 --

Netherlands -- -- -- -- -- -- 4,000 5

Nicaragua -- 142 -- 142 28 5 -- --

Panama -- 123 33 5 156 28 5 8 --

Peru -- 7,900 -- 7,900 -- -- --

United Kingdom -- -- 467 5 467 -- -- --

Other 1 40 90 131 226 5 133 5 --

Total 333 11,800 14,100 26,200 3,350 194 7,030

Year to date 861 83,300 82,000 166,000 26,900 899 30,000

Exports:

2005 1,380 141,000 182,000 324,000 563,000 687 1,310,000

2006:

May 47 9,740 19,000 28,800 102,000 78 123,000

June 66 12,100 22,300 34,500 43,900 38 116,000

July:

Canada -- -- 258 5 258 10,400 4 5 17,000 5

China -- -- -- -- -- -- 16,900 5

Dominican Republic 17 5 -- -- 17 -- -- 12,000 5

Germany -- -- -- -- 2,940 (6) 5 328 5

Hong Kong -- -- 774 774 -- -- --

Israel -- -- 13 5 13 -- -- 2,220 5

Japan -- -- -- -- 52 -- 1,030 5

Korea, Republic of -- -- -- -- -- 1 255 5

Mexico 23 5 -- 672 5 695 -- -- 916 5

Panama 1 5 -- -- 1 -- -- 416 5

Singapore -- -- -- -- -- -- 52,600 5

Switzerland -- 8,540 243 8,790 -- 317 --

Taiwan -- -- -- -- -- -- 3,980 5

United Kingdom -- -- 14,200 14,200 4,180 3 1,150 5

Other 19 5 -- 81 5 100 142 61 --

Total 59 8,540 16,200 24,800 17,700 386 109,000

Year to date 1,720 77,500 120,000 199,000 345,000 603 780,000

TABLE 3

 U.S. IMPORTS AND EXPORTS OF GOLD1

(Kilograms of gold content, unless otherwise specified)

4

"Waste and scrap," "Metal powder," and "Gold compounds" not included in "Total."

1

Data are rounded to no more than three significant digits; may not add to totals shown.

-- Zero.

5

All or part of these data have been referred to the U.S. Census Bureau for verification.

Source: U.S. Census Bureau.

3

Bullion also moves in both directions between U.S. markets and foreign stocks on deposit in the Federal Reserve Bank. Monetary gold excluded.

2

Includes gold content of base metal ores, concentrates, and matte imported for refining.

6

Less than 1⁄2 unit.

4