Dive Brief:
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The U.S. Bureau of Land Management has started auctioning off gravel from government-owned land in southern Nevada, reinstating a practice it had abandoned during the recession because of a lack of demand.
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The agency on March 3 will auction 9.6 million tons of sand and gravel from a pit near Las Vegas, which could reap the government $9 million.
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Contractors use the materials to build highways, skyscrapers, utility plants, bridges, and airport runways, according to the weekly publication Vegas Inc.
Dive Insight:
The renewed interest in government auctions of raw materials is another sign that the construction industry is continuing its recovery.
Last summer, the BLM collected $77,100 auctioning gravel to a Nevada construction company for $2.57 per ton.