CARSON CITY - Nevada mines produced 6.942 million ounces of gold in 2004, according to company reports compiled by the Nevada Division of Minerals. While the production level is down approximately 5 percent from 2003, Nevada remains the nation's top gold producing state and is the world's third largest gold producer after South Africa and Australia. The calculated value of the 2004 gold production is about 2.84 billion dollars, up from about 2.66 billion dollars in 2003. This is based on an increase in the average gold price in 2004 to 410 dollars per ounce, up from 363 dollars per ounce in 2003.
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