Lead is a city in Lawrence County, South Dakota, United States. The population was 2,982 at the 2020 census. Lead is located in western …Lead is a city in Lawrence County, South Dakota, United States. The population was 2,982 at the 2020 census. Lead is located in western South Dakota, in the Black Hills near the Wyoming state line. The city was officially founded on July 10, 1876, after the discovery of gold. The city was named for the leads or lodes of the deposits of valuable ores. It is the site of the Homestake Mine, the largest, deepest and most productive gold mine in the Western Hemisphere before closing in January 2002. By 1910, Lead had a population of 8,382, making it the second largest town in South Dakota.