Calif. on sidelines of latest gold rush, Nev. a definite player
By Dale Kasler, Sacramento Bee
California is being left behind by the new Gold Rush.
Despite sky-high prices and the state’s rich gold legacy, the industry here is mostly dormant. California trails the leading gold-producing state, Nevada, by a wide margin.
A California revival is hardly imminent. Companies trying to reopen old mines in Grass Valley and near Sutter Creek have slogged through years of red tape, and there are no guarantees of success. The Sutter Creek plan is at least a year away, while Grass Valley is several years from reopening.
Standing in the way: scarcity of capital and strict environmental standards.
There’s a cultural issue, too. Old mining towns still embrace their Gold Rush roots but have become havens for tourists and retirees. Some residents aren’t convinced that blasting through rock is compatible with boutiques or bed-and-breakfasts.