2 global gold production p olicy p otential i ndex
play

2 Global Gold Production P OLICY P OTENTIAL I NDEX Country Score - PowerPoint PPT Presentation

2 Global Gold Production P OLICY P OTENTIAL I NDEX Country Score 1 Finland 95.5 93.6 2 Sweden 92.6 3 Alberta 4 New 90.8 Brunswick 90.1 5 Wyoming 6 Ireland 89.7 7 Nevada 85.3 8 Yukon 83.8 83.8 9 Utah 82.4 10 Norway Source:


  1. N EVADA E MPLOYMENT G ROWTH 100 Thousands Trough to Present: +44,600 (+4.0%) 50 0 -50 -100 -150 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: Nevada Department of Employment, Training and Rehabilitation; U.S. Bureau of Labor Statistics and Applied Analysis

  2. N EVADA E MPLOYMENT G ROWTH BY S ECTOR Trade, Transportation & Utilities 4,200 Leisure & Hospitality 3,200 Education & Health Services 2,100 Government 1,100 Natural Resources & Mining 800 Financial Activities 300 Manufacturing 300 Professional & Business Services 200 Information 200 Other Services 0 Construction (4,100) Source: Nevada Department of Employment, Training and Rehabilitation

  3. N EVADA E MPLOYMENT G ROWTH BY S ECTOR Trade, Transportation & Utilities 4,200 Leisure & Hospitality 3,200 Education & Health Services 2,100 Government 1,100 Natural Resources & Mining 800 Financial Activities 300 Manufacturing 300 Professional & Business Services 200 Information 200 Other Services 0 Construction (4,100) Source: Nevada Department of Employment, Training and Rehabilitation

  4. U NEMPLOYMENT R ATE C OMPARISON N EVADA AND THE U NITED S TATES State of Nevada 9.5% 7.7% United States '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: U.S. Bureau of Labor Statistics and Applied Analysis

  5. N EVADA P ERSONAL I NCOME I N M ILLIONS $104,140 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: U.S. Bureau of Economic Analysis

  6. N EVADA P ERSONAL I NCOME G ROWTH +2.3% '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: U.S. Bureau of Economic Analysis

  7. N EVADA R ESIDENTIAL U NITS P ERMITTED 60 Thousands 50 Peak to Present: 40 -39,806 (-80.4%) 30 20 10 0 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: UNLV CBER and Applied Analysis

  8. N EVADA H OUSING P RICE I NDEX 450 400 350 300 250 200 150 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: Federal Housing Finance Agency

  9. H OUSING M ARKET I NSTABILITY C ONTINUES #7 Foreclosure Rates (1 in X HU) Less than 1,000 1,000-2,499 2,500-4,999 5,000 or More Foreclosure Rates United States: 1 in 1,001 Units Nevada: 1 in 731 Units Clark County: 1 in 613 Units Source: RealtyTrac (July 2013)

  10. L OANS 30 D AYS P AST D UE #43 Less than 2.0% 2.0% to 2.9% US Average: 3.2% 3.0% to 3.9% Nevada: 2.3% Source: Mortgage 4.0% or More Bankers Association Q2 2013

  11. L OANS 90 D AYS P AST D UE #2 Less than 2.0% 2.0% to 2.9% Nevada: 4.2% 3.0% to 3.9% US Average: 2.6% Source: Mortgage 4.0% or More Bankers Association Q2 2013

  12. L OANS I N F ORECLOSURE #6 Less than 1.5% 1.5% to 2.9% Nevada: 5.2% 3.0% to 4.4% US Average: 3.3% Source: Mortgage 4.5% or More Bankers Association Q2 2013

  13. L OANS S ERIOUSLY D ELINQUENT #3 Less than 3.0% 3.0% to 5.9% Nevada: 9.4% 6.0% to 8.9% US Average: 5.9% Source: Mortgage 9.0% or More Bankers Association Q2 2013

  14. N EVADA V ISITOR V OLUME T RAILING 12-M ONTH T OTAL 57 Millions Trough to Present: 55 +2.8 M (+5.7%) 53 51 49 47 45 43 41 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: Nevada Commission on Tourism

  15. N EVADA G ROSS G AMING R EVENUE T RAILING 12-M ONTH T OTAL $14 Billions $13 Peak to Present: $12 -$2.1 B (-16.6%) $11 $10 $9 $8 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: Nevada Gaming Control Board

  16. N EVADA ’ S T OURISM E CONOMY A NNUAL G ROWTH (T RAILING 12 M ONTHS ) Visitor Occupancy Volume Rate +0.8% +0.5% Convention Airport Attendance Traffic +1.2% -0.8% Gaming Highway Revenue Traffic -0.3% +14.2% Source: Nevada Commission on Tourism, Nevada Gaming Control Board and Applied Analysis

  17. 46

  18. N EVADA T AXABLE R ETAIL S ALES T RAILING 12-M ONTH T OTAL $55 Billions $50 Peak to Present: -$4.4 B (-8.9%) $45 $40 $35 $30 $25 $20 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: Nevada Department of Taxation and Applied Analysis

  19. N EVADA T AXABLE R ETAIL S ALES G ROWTH 20% Trough to Present: 15% +$7.4B (+19.7%) 10% 5% 0% -5% -10% -15% -20% '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: Nevada Department of Taxation and Applied Analysis

  20. N EVADA S ALES T AX N EVADA R EAL P ROPERTY C OLLECTIONS T RANSFER T AX C OLLECTIONS (S TATE P ORTION ) $1,000,216,533 $985,035,972 $966,670,636 $164,841,506 $845,677,857 $844,083,850 $120,374,961 $798,436,167 $757,594,646 $85,882,799 $65,922,452 $53,315,435 $51,552,368 $48,373,678 '06 '07 '08 '09 '10 '11 '12 '06 '07 '08 '09 '10 '11 '12 Source: Nevada Department of Taxation and Applied Analysis

  21. N EVADA P ROPERTY T AX N EVADA N ET P ROCEEDS OF C OLLECTIONS M INERALS T AX C OLLECTIONS (S TATE P ORTION ) $253,311,919 Pre-payment of net proceeds of $242,605,014 minerals tax enacted during the $84,987,619 $84,648,651 12/2008 Legislative Special Session $79,314,307 $168,695,319 $75,926,025 $145,449,950 $70,923,899 $69,137,776 $44,524,830 $64,443,588 $62,178,511 $74,129,804 '06 '07 '08 '09 '10 '11 '12 '06 '07 '08 '09 '10 '11 '12 Source: Nevada Department of Taxation and Applied Analysis

  22. 2013 F ISCAL O UTLOOK M INING O PERATORS • Industry average trend Net Proceeds for 2013 (compared to Gross Yield of Net Proceeds of Minerals Minerals of Minerals Tax 2012): -15.1% -22.4% -25.4% Source: NVMA Member Survey

  23. 52

  24. E XISTING M INING A CTIVITY 126 Mining Operators Source: NVMA and Nevada Department of Taxation

  25. T REND IN N UMBER OF O PERATORS 126 116 115 102 101 98 97 96 96 96 94 94 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 Source: Nevada Department of Taxation

  26. M INING I NDUSTRY ’ S P RESENCE IN N EVADA • In what year was your Oldest Respondent Company: 1918 company established in Youngest Respondent Company: 2012 Nevada? Average Year Established: 1984 Source: NVMA Member Survey

  27. T HE M INING I NDUSTRY E XTENDS B EYOND M INE O PERATORS • What role does your company fill within the mining industry? Mine Operator 22% Professional Support 37% Mining Operations Support/ Equipment 19% Developing Exploration Mine 11% 11% Source: NVMA Member Survey

  28. N EVADA GDP G ROWTH B Y S ECTOR 20% +17.9% 2002 - 2012 All Industry 15% Compound Annual Growth Rate: +4.9% 10% 5% 0% -5% Source: U.S. Bureau of Economic Analysis

  29. N EVADA M INING GDP $8 10-Year Growth: Billions +420.8% $7 $6 $5 $4 $3 $2 $1 $0 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 Source: U.S. Bureau of Economic Analysis

  30. I NDUSTRY GDP AS S HARE OF T OTAL B Y S ECTOR 16% 14% 12% 10% 8% 6% 5.2% 4% 2% 0% Source: U.S. Bureau of Economic Analysis

  31. M INING GDP AS S HARE OF T OTAL 5.1% 5.2% 3.9% 2.8% 2.9% 2.3% 2.1% 1.6% 1.6% 1.7% 1.8% '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 Source: U.S. Bureau of Economic Analysis

  32. N EW P ROJECTS AND I NVESTMENTS Goldrush (Eureka) moves forward; Acquired patented New excavator ($1.4 million) processing options to be added materials research Long Canyon (Elko) continues to move forward Ongoing testing in recovery methods and cyanide neutralization Significant reserves measured and indicated in developing mine in No. Possible new facility for mining NV; $320 million capital investment operations support in Elko with planned future development reaching more than $1 billion total Expanded established reserves and mine life Return to mining at Florida Canyon Mine New warehouse built ($1.2 million) More than $6 million invested in exploration (drilling and ancillary activities) in Pershing with new gold and silver resources identified along the Oreana trend Source: NVMA Member Survey

  33. T OP C HALLENGES TO F UTURE G ROWTH Permitting process 6% • What is the Increased greatest Regulatory state mineral process threat to your taxes 14% 25% business Low mineral today? prices Capital 13% availability 16% Changing Federal environmental government requirements 16% 13% Source: NVMA Member Survey

  34. T OP C HALLENGES TO F UTURE G ROWTH Source: NVMA Member Survey

  35. 64

  36. M INING E MPLOYMENT IN N EVADA T RAILING 12-M ONTH A VERAGE 14 Thousands +5,400 Jobs (+79.7%) 12 10 8 6 4 2 0 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 Source: Nevada Department of Employment, Training and Rehabilitation

  37. M INING E MPLOYMENT IN N EVADA 14 Thousands +6,200 Jobs (+96.9%) 12 10 8 6 4 2 0 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 Source: Nevada Department of Employment, Training and Rehabilitation

  38. N EVADA M INING IS D IVERSE • What percentage of your 28% workforce do women comprise? 16% Industry Percentage Average Percentage of Workforce at Each Respondent Company Source: NVMA Member Survey

  39. N EVADA M INING IS D IVERSE • What percentage of your workforce do non-gender 18% minorities comprise? 11% Industry Percentage Average Percentage of Workforce at Each Respondent Company Source: NVMA Member Survey

  40. N EVADA M INING VS . T OTAL E MPLOYMENT 10-Y EAR G ROWTH Metal Ore Mining Total Nevada Establishment-based Employment 16,000 1.4 Total Millions +6% 14,000 1.2 12,000 1.0 10,000 Mining 0.8 +80% 8,000 0.6 6,000 0.4 4,000 0.2 2,000 0 0.0 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 Source: Nevada Department of Employment, Training and Rehabilitation

  41. U NEMPLOYMENT R ATE C OMPARISON N EVADA C OUNTIES ; J ULY 2013 Counties with Major Mining Interests 11.8% 9.0% 6.6% 6.4% 5.9% 5.7% 4.8% 4.4% Source: U.S. Bureau of Labor Statistics and Applied Analysis

  42. M INING AS A S HARE OF T OTAL E MPLOYMENT 1.9% 1.7% 1.5% 1.3% +0.5 percentage points 1.1% 0.9% 0.7% 0.5% '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 Source: Nevada Department of Employment, Training and Rehabilitation

  43. N EVADA M INING I S H IRING • Excluding replacements • Have you hired and/or due to attrition, did you will you hire new hire new employees in employees in 2013 ? 2012 ? No No 35% 38% Yes Yes 62% 65% Source: NVMA Member Survey

  44. F UTURE H IRING O UTLOOK • Do you expect to hire • Expected average annual new employees in the growth rate: next five years? 2013 13% No 31% Next Five Yes 8% Years 69% Source: NVMA Member Survey

  45. F UTURE R EDUCTIONS O UTLOOK • Do you expect to reduce • Do you expect to reduce your workforce in the next your workforce in the next five years? year? Unknown Yes Yes 4% 12% 12% Unknown 8% No No 80% 84% Source: NVMA Member Survey

  46. N EVADA S ALARIES AND W AGES M ETAL O RE M INING $1,200 10-Year Compound Annual Growth Rate: Millions +7.9% $1,000 $800 $600 $400 $200 $0 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 Source: Nevada Department of Employment, Training and Rehabilitation

  47. N EVADA M INING V S . T OTAL S ALARIES A ND W AGES 10-Y EAR G ROWTH Metal Ore Mining Total Total Nevada Establishment-based Employment $1.2 $55 +39% Billions Billions $1.0 $45 Mining $0.8 $35 +114% $0.6 $25 $0.4 $15 $0.2 $5 $0.0 -$5 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 Source: Nevada Department of Employment, Training and Rehabilitation

  48. N EVADA A VERAGE A NNUAL W AGES M ETAL O RE M INING VS . T OTAL +98% $86,476 '12 $43,680 compared '11 to average '10 '09 '08 '07 '06 Metal Ore Mining '05 Nevada Average '04 '03 $66,924 '02 $34,008 $0 $20,000 $40,000 $60,000 $80,000 $100,000 Source: Nevada Department of Employment, Training and Rehabilitation

  49. B ENEFITS P AID BY N EVADA M INING Workers • $11 M $254 Compensation, Life Insurance and Accident Insurance • $50 M FICA and Unemployment Insurance Million • $63 M 401K/ Pension / Retirement / Other • $130 M Health / Dental / Vision Insurance Source: NVMA Member Survey

  50. H EALTH I NSURANCE C OST AS A P ERCENT OF W AGES 8% 15% Source: Nevada Department of Taxation, Modified Business Tax Quarterly Statistics (June 2013)

  51. H EALTH C ARE C OVERAGE • Percent of Nevada private • Nevada mining industry- sector establishments that wide health care coverage offer health insurance to rate: employees: 93% 55% Source: NVMA Member Survey and Kaiser Family Foundation

  52. 81

  53. E CONOMIC I MPACT C ATEGORIES

  54. E CONOMIC I MPACT C ATEGORIES

  55. E CONOMIC I MPACT C ATEGORIES

  56. E CONOMIC I MPACT C ATEGORIES

  57. E MPLOYMENT I MPACTS N EVADA M INING I NDUSTRY O PERATIONS (2012) 29,434 12,600 11,659 5,176 Direct Indirect Induced Total Source: Nevada Department of Employment, Training and Rehabilitation; Nevada Department of Taxation; IMPLAN; Applied Analysis

  58. M INING E MPLOYMENT I MPACTS AS S HARE OF T OTAL N EVADA E MPLOYMENT 2.2% 1.1% 1.0% 0.5% Direct Indirect Induced Total Source: Nevada Department of Employment, Training and Rehabilitation; Nevada Department of Taxation; IMPLAN; Applied Analysis

  59. W AGE AND S ALARY I MPACTS N EVADA M INING I NDUSTRY O PERATIONS (2012) $1.6 B $1.0 B $0.3 B $0.2 B Direct Indirect Induced Total Source: Nevada Department of Employment, Training and Rehabilitation; Nevada Department of Taxation; IMPLAN; Applied Analysis

  60. M INING W AGES /S ALARIES I MPACTS A S S HARE OF T OTAL N EVADA W AGES /S ALARIES 3.2% 2.0% 0.7% 0.6% Direct Indirect Induced Total Source: Nevada Department of Employment, Training and Rehabilitation; Nevada Department of Taxation; IMPLAN; Applied Analysis

  61. E CONOMIC O UTPUT N EVADA M INING I NDUSTRY O PERATIONS (2012) $8.8 B $6.4 B $1.2 B $1.2 B Direct Indirect Induced Total Source: U.S. Bureau of Economic Analysis; Nevada Department of Taxation; IMPLAN; Applied Analysis

  62. M INING E CONOMIC O UTPUT A S S HARE OF N EVADA T OTAL GDP 6.6% 4.8% 0.9% 0.9% Direct Indirect Induced Total Source: U.S. Bureau of Economic Analysis; Nevada Department of Taxation; IMPLAN; Applied Analysis

  63. 92

  64. N ET P ROCEEDS OF M INERALS T AX P AID BY N EVADA M INING (2012) Total net proceeds of minerals tax paid: $239.8 Million Rural Clark $0.1 Million $239.7 Washoe $0.0 Million Million Source: Nevada Department of Taxation

  65. N ET P ROCEEDS OF M INERALS T AX P AID BY N EVADA M INING $239.8 $250 $231.3 Millions $200 $163.0 $150 $97.6 $100 $66.9 $50 $0 2008 2009 2010 2011 2012 Source: Nevada Department of Taxation

  66. S HARE OF N ET P ROCEEDS T AX G ENERATED BY S PECIFIC M INERALS (2012) Gold/Silver Copper Gold/Silver Geothermal 97% Gypsum Oil Other Source: Nevada Department of Taxation

  67. R ATIO OF N ET P ROCEEDS TO G ROSS P ROCEEDS (2012) 48.6% 22.8% 20.9% 12.4% 8.0% Gold/Silver Other Copper Gypsum Geothermal Source: Nevada Department of Taxation

  68. N ET P ROCEEDS OF M INERALS T AX VS . U NEMPLOYMENT R ATE Net Proceeds of Minerals Tax Unemployment Rate $100 14% Millions 12% $80 10% $60 8% 6% $40 4% $20 2% $0 0% Source: U.S. Bureau of Labor Statistics; Nevada Department of Taxation

  69. E STIMATED D IRECT S ALES /U SE T AX P AID BY N EVADA M INING • Estimated direct Millions $160 sales/use tax paid $135 $131 $140 by Nevada mining: $120 $109 $96 $100 $80 $69 $60 $40 $20 $0 2008 2009 2010 2011 2012 Source: NVMA Member Survey (2011, 2012); Natural Resource Industry Institute (2008 – 2010), NV Dept of Taxation and industry surveys

  70. N EVADA T AXABLE R ETAIL S ALES M INING /M INING S UPPORT (T RAILING 12-M ONTH T OTAL ) $400 Millions +61.6% $350 $300 $250 $200 $150 $100 $50 $0 '07 '08 '09 '10 '11 '12 '13 Source: Nevada Department of Taxation

Recommend


More recommend