CARSON CITY -- Nevada's mining industry set an all-time record in 2007 for total value of mined commodities.

The total value was about $5.4 billion, according to reports compiled by the Nevada Division of Minerals. This is a half-billion-dollar increase over the 2006 value of about $4.9 billion.

Production value was led by gold mining.

Nevada's mines produced 6.037 million ounces of gold in 2007, down from the 2006 production level of 6.305 million ounces. However, because the average price of gold increased from $603 per ounce in 2006 to $695 per ounce in 2007, the total value increased significantly.

The calculated value of 2007 gold production was about $4.20 billion, up from $3.80 billion in 2006.

Nevada continues to be the nation's top gold producing state, contributing 78 percent of the U.S. gold production.

Nevada produced 8 percent of the total world gold production, outranked only by China, South Africa, and Australia.

Nevada's copper production in 2007 was 142.8 million pounds, with a calculated value of $461 million, based on an average price of $3.23 per pound.

Silver production fell slightly to 8.41 million ounces from the 2006 level of 8.45 million ounces, but the value of production rose to $113 million from $98 million in 2006, based on an average silver price in 2007 of $13.38 per ounce.

Industrial mineral production increased slightly in 2007.

The total value of Nevada's industrial minerals, which include aggregates, barite, clays, diatomite, dolomite, gypsum, lime and limestone, lithium compounds, magnesium compounds, mercury, molydenite, opals, perlite, salt, silica sand and turquoise was about $610 million, up from about $592 million in 2006.

"This increase in the value of all mined commodities indicates Nevada's mining companies continue to make significant and growing contribution to the state's economy," said Gov. Jim Gibbons.

According to Alan Coyner, administrator of the Division of Minerals, mineral exploration activity picked up significantly in 2007, which should lead to additional discoveries and production in the future.