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New gold rush means big boom for Colorado mining company

8:34 PM, Aug 18, 2011   |    comments
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"We are the world's second largest gold company," Omar Jabar with Newmont Mining said.

Greenwood Village-based Newmont Mining is in the middle of a huge boom. The Fortune 500 company has added hundreds of new jobs in Colorado and has a plan to keep growing aggressively internationally.

That will mean even more jobs, especially in fields like engineering, metallurgy and geology.

"Unfortunately, there's not enough people getting into those careers. For those who are seeing the economy and thinking there are no jobs, there are jobs in mining," Jabar said.

The hunt for the hunters of precious metals is also a draw to Colorado. While many college students worry about what is next for them after graduation, students at the Colorado School of Mines in Golden say employers are coming after them.

"I feel pretty good," Christoff Hurley said.

Hurley will graduate with a master's degree in mining engineering in four months and he has good reason to be optimistic.

"There's a lot of jobs out there in mining right now. Most of my friends, when we graduated with our bachelor's, had multiple job offers [that] paid real well," he said.

"As a matter of fact, our fall career fair, which is in September, sold out two months before the event, and two thirds of the companies are in the mining and energy sectors," School of Mines spokesperson David Tauchen said.

Hurley's degree in mining engineering ensures he is one college student who won't end up in his parents' basement.

"Absolutely, they like that," he said.

Gold is used in cellphones, cameras and computers and it has been a safe haven for many investors in the stock market. However, some analysts warn that what goes up, must come down. They say once the market stabilizes, the value of gold will drop and that is something investors should be consider.

However, once gold comes down in price, the things we buy that have gold in them will also go down in price.

(KUSA-TV © 2011 Multimedia Holdings Corporation)

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