Posted October 11, 2018 05:23:06 The number of silver mines that are in financial trouble is growing as the state’s economy struggles with a string of bad economic news.
Atilka Silver Mines, which makes the Atilka Platinum Mine, closed down on Oct. 10.
The mines closed after nearly a year of heavy losses.
It’s the second mine in New Brunswick to close since 2018.
Atilkas silver production is down 15 percent to 1,711 metric tons this year, according to its most recent annual report.
Atils mines are located near the state capital of Trenton and about 30 miles (48 kilometers) from the state border with New York.
Atila mines, which are located in Stetson, have seen an 18 percent decline in annual production since 2016.
It is also down 14 percent to 922 metric tons.
Atila mines are in Stetons northwest section, about 1.5 miles (2 kilometers) south of the state capitol in New London.
The New Jersey Department of Environmental Protection said in its latest report that the state has more than 300 known silver mines.
The state’s Department of Natural Resources said it has more known silver mining sites than any other state.
Silver mining is an underground operation, meaning it is not a well-known industry.
Mining operations can be limited to one site per mine, so there are no known active or inactive mines.
A mine may be listed as inactive if it is no longer producing metal or supplies metals to the mines.
In some states, silver mining has been permitted since the early 1900s, but many states have imposed strict requirements for the approval of mines.
New Jersey has a number of regulations, including a ban on new mining leases, a ban in the late 2020s on any new mining development, and a ban from opening new mines for at least 10 years.