A new report by the Utah Geological Survey details the value and the diversity of the state’s mining industry — which was responsible for close to $10 billion last year.
The industry is broader than one might think. Metals, industrial minerals, uranium and coal contributed an estimated $4.5 billion. Oil and gas production contributed another estimated $5 billion.
Additionally, it generated $75 million in property taxes in 2023, up 12% from 2022, and $12 million in mining-related state taxes in 2024.
The extractive industries in Utah also contributed more than $83 million to Utah in 2024 in federal mineral lease payments, which is revenue generated by mineral leases on federal lands within the state.
Brian Somers, president of the Utah Mining Association, is not surprised at what the document details.
“Utah’s mining industry is robust and growing,” Somers said. “(The year) 2024 saw steady growth in overall mineral and fuels production, wages, employment and tax revenues. With our world-class mining industry, proactive state officials, an unrivaled mineral endowment and a welcoming environment for investment, Utah is poised to lead the nation in realizing the Trump administration’s vision for national energy and critical minerals dominance.”
The report highlights the diverse and curious role Utah plays when it comes to mineral resources.
As an example, the state is the sole domestic producer of beryllium concentrate, which is critical for the aerospace industry and national defense; potassium sulfate, an important agricultural fertilizer, and uintaite, which is a rare, naturally occurring hydrocarbon that is used in asphalt, paints and inks.
What is up with beryllium?
According to Livescience, beryllium is uniquely strong and light and used to make cellphones, missiles and aircraft. However, it is also highly carcinogenic if it is alloyed with salts and must be carefully handled.
There is a strong appeal to its properties, however.
Livescience says despite its toxicity, the element is highly useful because of its unique qualities. For instance, it is one of the lightest metals and has one of the highest melting points among the light metals, according to the Los Alamos National Laboratory. Steel gray in color, beryllium’s factor of elasticity is about one-third greater than steel. Beryllium is nonmagnetic and resistant to concentrated nitric acid. It also has superior thermal conductivity and resists oxidation in air in normal temperatures.
Utah’s beryllium is from the Spor Mountain mining district in Juab County. Based on estimated global production, Spor Mountain alone accounted for over 55% of global beryllium production.
The amount of ore remaining at Spor Mountain can support mining for at least 75 years, and currently, more ore is produced annually than is used in the domestic market.
The diversity of Utah’s market is cemented
In 2024, the U.S. Geological Survey ranked Utah 11th nationally for production of non-fuel minerals, which include metals and industrial minerals.
The agency estimate for non-fuel mineral production was put at $3.1 billion. That includes cement, copper, gold, potash and salt that are listed as principal commodities.
The copper king
In 2023, Rio Tinto’s Bingham Canyon accounted for approximately 75% of Utah’s total metal mining.
The world’s deepest open mine that flanks the western side of Salt Lake County is a workhorse for Utah.
Metallic minerals accounted for $2.1 billion in production value and copper alone accounted for nearly 60% of Utah’s metal production value.
Base metal production contributed $1.9 billion and included copper, beryllium, molybdenum and iron. Precious metals produced in Utah include gold and silver, and 2024 production was valued at nearly $270 million.
An earlier report this year also indicated that Utah is golden in that arena of production.
The analysis puts Utah 10th place in the nation for its number of gold locations. Utah can boast of 7.46 sites per 1,000 square miles and a total of 613 gold locations.
SD Bullion used data from the U.S. Geological Survey to come up with its list of the top 10 states for gold.
Just west of Rio Tinto, the Mercur district ultimately produced about 2.5 million ounces of gold, making it Utah’s largest primary gold mining district, despite the fact that no gold was ever recognized as an in-hand specimen.
The price of gold during the years Mercur was recently in production ranged from under $300 to about $450 per ounce.
