In the American West, gold mining has long been a romantic if not always profitable enterprise. But nowadays gold mining is back in those parts as a booming, albeit unromantic, big business. No fewer than 22 new gold mines are expected to open up in the U.S. this year, most of them speckled across California, Nevada, Montana and Colorado. The treasure hunt is bound to bolster the position of the U.S. as No. 4 among gold-mining countries. America's importance as a producer has increased lately because traders have become fearful of disrupted output from the world's leading supplier: South Africa. The...
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