Spring Valley Gold Project in Nevada Gets Federal Approval

Spring Valley Gold Project Gains Key Federal Approval

Waterton Mining’s subsidiary, Solidus Resources, secured a critical milestone with the US Bureau of Land Management’s (BLM) record of decision (ROD) approving the Spring Valley gold project in Nevada. This marks the first federal approval of a domestic gold mine in the US in over ten years. Located in Pershing County, the project contains 3.8 million ounces of gold reserves and will become the largest independent gold mine in the country.

The Spring Valley mining district has a rich history of producing gold and various metals since its discovery in 1868. Modern exploration began in 1996 and has included extensive drilling, metallurgical testing, and environmental studies. Solidus has advanced the project steadily, culminating in this landmark federal approval that clears the way for permitting, construction, and operation phases.

Spring Valley Gold Project’s Economic Outlook and Industry Impact

The 2025 feasibility study forecasts over 300,000 ounces of gold production annually for more than a decade, with initial capital costs estimated at $823 million. The project demonstrates strong economics, featuring a 36% internal rate of return and an after-tax net present value of $1.5 billion based on conservative gold prices. Furthermore, the project supports thousands of high-paying jobs and increased tax revenues for the region.

Waterton CEO Isser Elishis emphasizes the strategic importance of Spring Valley in enhancing US mining competitiveness and supporting domestic mineral production. The project also aligns with national goals by encouraging local sourcing of mining technology and boosting American exports. Solidus recently received interest from the Export-Import Bank of the United States for potential financing under key federal initiatives.

SuperMetalPrice Commentary:

Spring Valley’s federal approval signals a pivotal moment for the US gold mining sector. It highlights renewed domestic investment in critical mineral production, a vital step amid global supply chain uncertainties. The project’s strong economics and long mine life present a rare opportunity to bolster US mineral security and job creation. However, ongoing regulatory and market risks remain. Stakeholders should monitor permitting progress and financing developments closely as Spring Valley advances toward production.