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Gold & Silver Ore Mining in the US Industry Data and Analysis
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 result of mine output and the world prices of gold and silver. Thanks to rising gold and silver prices, overall industry revenue has been on the rise, despite reduced gold mine output and only modestly increasing silver mine output over the past five years. Gold and silver prices saw significant growth at the beginning of this five-year period amid the uncertainty that came with the COVID-19 pandemic; prices have seen similar growth in 2024 and 2025 amid renewed economic uncertainty. Overall, industry revenue is projected to have risen at a CAGR of 1.4% to $15.3 billion over the five years to 2025, with a 12.0% increase in 2025 alone as gold and silver prices continue to surge upward.
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What's included in this industry analysis
IBISWorld's research coverage on the Gold & Silver Ore Mining industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released December 2025.
About this industry
What's this industry report about?
The Gold & Silver Ore Mining industry in the United States operates under the NAICS industry code 21222. 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). Related terms covered in the Gold & Silver Ore Mining industry in the United States include concentrate, dore, bullion and troy ounce.
What's included in this industry?
Products and services covered in Gold & Silver Ore Mining industry in the United States include Gold dore and concentrates and Silver dore and concentrates.
What companies are included in this industry?
Companies covered in the Gold & Silver Ore Mining industry in the United States include Barrick Gold Corp, Newmont Corporation and Kinross Gold Corp.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Gold & Silver Ore Mining industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Gold & Silver Ore Mining industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Gold & Silver Ore Mining industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Gold & Silver Ore Mining industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Gold & Silver Ore Mining industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Gold & Silver Ore Mining industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Gold & Silver Ore Mining industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Gold & Silver Ore Mining industry in the United States.
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Frequently Asked Questions
What is the market size of the Gold & Silver Ore Mining industry in the United States in 2026?
The market size of the Gold & Silver Ore Mining industry in the United States is $15.3bn in 2026.
How many businesses are there in the Gold & Silver Ore Mining industry in the United States in 2025?
There are 188 businesses in the Gold & Silver Ore Mining industry in the United States, which has grown at a CAGR of 4.2 % between 2020 and 2025.
How may import tariffs affect the Gold & Silver Ore Mining industry in the United States?
The Gold & Silver Ore Mining industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Gold & Silver Ore Mining industry in the United States?
The Gold & Silver Ore Mining industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Gold & Silver Ore Mining industry in the United States grown or declined over the past 5 years?
The market size of the Gold & Silver Ore Mining industry in the United States has been growing at a CAGR of 1.4 % between 2020 and 2025.
What is the forecast growth of the Gold & Silver Ore Mining industry in the United States over the next 5 years?
Over the next five years, the Gold & Silver Ore Mining industry in the United States is expected to decline.
What are the biggest companies in the Gold & Silver Ore Mining industry in the United States?
The biggest companies operating in the Gold & Silver Ore Mining industry in the United States are Barrick Gold Corp, Newmont Corporation and Kinross Gold Corp
What does the Gold & Silver Ore Mining industry in the United States include?
Gold ore mining and Silver ore mining are part of the Gold & Silver Ore Mining industry in the United States.
Which companies have the highest market share in the Gold & Silver Ore Mining industry in the United States?
The company holding the most market share in the Gold & Silver Ore Mining industry in the United States is Barrick Gold Corp.
How competitive is the Gold & Silver Ore Mining industry in the United States?
The level of competition is high and steady in the Gold & Silver Ore Mining industry in the United States.
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