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|Tuesday, April 01, 2008|
STATEWIDE There may be gold in them thar Oregon hills, but nobody’s mining it. Even with gold prices hovering at all-time highs in the neighborhood of $1,000 per ounce, the same dozen or so mining companies that have held mining claims for years continue to pass on Oregon while looking elsewhere, usually overseas, to capitalize on the global gold rush.
Gold spurred the settlement of northeastern and southwestern Oregon in the 19th century, but the industry has never recovered from high labor costs, tightening state regulations and the downfall of gold prices. Those prices have bounced back spectacularly as the dollar has weakened, but there are no mining companies in Oregon positioned to capitalize, says Gary Lynch of the Oregon Department of Geology and Mineral Industries.
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