Utah's mining industry is vital to the state's economy. Seventy-five economic minerals are found in Utah and 14 have made the state a major mineral producer. In 2005, Utah ranked 5th nationally for overall nonfuel mineral production accounting for more than 5% of the U.S. total. The state ranked 1st nationally in molybdenum, beryllium, magnesium metal and gilsorite production, 2nd in copper, gold and potash production and 4th in silver production. Utah is consistently rated as one of the best jurisdictions in the world for mining development; according to the Fraser Institute, in 2005 Utah had the best taxation regime and ranked 4th for favorable overall governmental policies.
