67-762: Newmont Corporation is an American gold mining company based in Greenwood Village, Colorado . It is the world's largest gold mining corporation. Incorporated in 1921, it owns gold mines in Nevada , Colorado , Ontario , Quebec , Mexico , the Dominican Republic , Australia , Ghana , Argentina , Peru , and Suriname . In addition to gold, Newmont mines copper , silver , zinc and lead . The Newmont Corporation bought Canadian mining company, Goldcorp in 2019 for $ 10 billion. Newmont has approximately 31,600 employees and contractors worldwide, and
134-711: A combination of factors including the depletion of easily accessible gold deposits, harsh weather conditions, and the political instability at the time. The Welsh gold rush occurred in Wales , more so in the Dolgellau area of Gwynedd , during the 19th century. Gold deposits were discovered in Welsh mountains, with reports of gold being found in rivers Mawddach and Tryweryn . By the mid-19th century, commercial mining operations had begun. Wales' gold gained popularity for its quality and rarity, leading to its use in royal jewelry for
201-722: A critical source of income and livelihood, providing employment opportunities and economic support in regions with limited alternative options. Artisanal mining operations vary in scale, from individuals panning for gold in rivers and streams, to small groups working collectibely in informal mining camps, often referred to as ' galamsey ' in West Africa . Gold mining can create employment opportunities in mining operations and related sectors. Howevers, these jobs may be temporary. The sector's reliance on fluctuating global gold prices can lead to economic stability for communities dependent on mining. The discovery of significant gold deposits in
268-689: A founding 25 percent in the Anglo American Corporation of South Africa. Four years later, in 1921, the Newmont Company reincorporated as the Newmont Corporation. In 1929, Newmont became a mining company with its first gold product in by acquiring California's Empire Star Mine . By 1939, Newmont was operating 12 gold mines in North America. The company acquired interests overseas. For decades around
335-437: A gravel screening plant and sluice box floating in a temporary pond. The pond is excavated in the gravel bar and filled from the natural water table. "Pay" gravel is excavated from the front face of the pond and processed through the floating plant, with the gold trapped in the onboard sluice box and tailings stacked behind the plant, steadily filling in the back of the pond as the operation moves forward. This type of gold mining
402-471: A large scale to extract gold from extensive alluvial (loose sediment) deposits, such as those at Las Medulas . Mining was under the control of the state but the mines may have been leased to civilian contractors some time later. The gold served as the primary medium of exchange within the empire, and was an important motive in the Roman conquest of Britain by Claudius in the first century AD; although there
469-488: A lower grade. Tailings can contain lead, mercury, cadmium, and arsenic. These toxins can pose health risks for local communities. Arsenic is typically found in gold-containing ores, and gold processing may contaminate groundwater or the atmosphere. This pollution may persist for decades. Furthermore, mining operations use large quantities of water for processing ore and can result in the contamination of water sources with heavy metals, such as mercury and cyanide , used in
536-580: A merger with Battle Mountain Gold. The merger was completed in January 2001. In February 2002, Newmont completed the acquisition of Normandy Mining and Franco-Nevada . Newmont faced competition in its bid for Normandy from AngloGold . By eventually outbidding the South African company, Newmont became the world's largest gold producer, with an annual production in excess of 8 million ounces. In 2007,
603-468: A region often sees a flood of resources and development, which lasts as long as the mines are economic. When goldfields begin to decline in production, local economies find themselves destabilised and overly reliant upon an industry that will inevitably abandon the region when gold deposits are sufficiently depleted; leaving the areas without proper rehabilitation. Atchison, Topeka %26 Santa Fe Railway Too Many Requests If you report this error to
670-747: A tributary of the Klondike River by George Carmack and his Indigenous companions, Skookum Jim Mason and Tagish Charlie . As prospectors arrived in Klondike, makeshift towns and settlements sprang up along the rivers, including Dawson City , which because the largest town in Yukon at the height of the gold rush. Prospectors employed various mining techniques to extract gold from the Klondike's streams and riverbeds, including placer mining, dredging, and hydraulic mining. The Carlin Trend of Nevada, U.S.,
737-464: A unified worldwide gold company. Shareholders of both companies had identical interests in the reserves, production and earnings of Newmont Gold's operations. Newmont then merged with Santa Fe Railroad (a former Atchison, Topeka & Santa Fe Railway subsidiary, sold in preparation for the merger that produced the BNSF ) to form North America's largest gold producer. On June 21, 2000, Newmont announced
SECTION 10
#1732783997845804-418: Is a cyanide extraction method, or gold cyanidation, introduced in the late 1800s. This a metallurgical technique used to extract gold from lower grade ores by converting gold into a water-soluble coordination complex. Finely ground rock is treated with a solution of sodium cyanide . The extract is absorbed onto carbon and then removed from the carbon with a solution of caustic soda and cyanide. Gold cyanide
871-429: Is a method of extracting gold from alluvial deposits such as sand, gravel, and sediment. These are known as placer deposits which are typically found in riverbeds, stream beds, and floodplains. These deposits typically contain minerals that are resistant to weathering and eroision like gold , platinum , diamonds , and more. They are characterized by their relatively high concentration of valuable minerals compared to
938-415: Is characterized by its low cost, as each rock is moved only once. It also has low environmental impact, as no stripping of vegetation or overburden is necessary, and all process water is fully recycled. Such operations are typical on New Zealand's South Island and in the Klondike region of Canada. Also called a cradle, a rocker box uses riffles located in a high-walled box to trap gold in a similar manner to
1005-616: Is done by small-scale miners using suction dredges. These are small machines that float on the water and are usually operated by one or two people. A suction dredge consists of a sluice box supported by pontoons, attached to a suction hose which is controlled by a miner working beneath the water. This method is particularly popular in areas where gold is found at river bottoms or submerge deposits . Suction dredging can have environmental impacts, moreso on aquatic habitats and water quality. Regulations and best practices are often in place to minimize these impacts. State dredging permits in many of
1072-436: Is essentially a man made channel with riffles set in the bottom. The riffles are designed to create dead zones in the current to allow gold to drop out of suspension. The box is placed in the stream to channel water flow. Gold-bearing material is placed at the top of the box. The material is carried by the current through the volt where gold and other dense material settles out behind the riffles. Less dense material flows out of
1139-868: Is estimated that the total gold production in Karnataka to date is 1000 tons. The mining of the Hungarian deposit (present-day Slovakia) primarily around Kremnica was the largest of the Medieval period in Europe. In South America, gold mining in the Andes dates back to thousands of years, with the Inca empire employing extensive gold mining operations in regions such as present-day Peru and Ecuador . They used stone tools and simple mining techniques to extract gold from rivers, streams, and surface deposits. During
1206-483: Is no longer productive. Local people have asked to be relocated away from the mine since 2013, but the government nor the company have responded to their requests. Newmont has purchased and sold a number of operations in recent years: Gold mining Gold mining is the extraction of gold by mining . Historically, mining gold from alluvial deposits used manual separation processes, such as gold panning . The expansion of gold mining to ores that are not on
1273-698: Is only one known Roman gold mine at Dolaucothi in west Wales. Gold was a prime motivation for the campaign in Dacia when the Romans invaded Transylvania in what is now modern Romania in the second century AD. The legions were led by the emperor Trajan, and their exploits are shown on Trajan's Column in Rome and the several reproductions of the column elsewhere (such as the Victoria and Albert Museum in London ). Under
1340-966: Is produced by major corporations, there are an estimated 10 to 15 million small-scale artisanal gold miners worldwide. Around 4.5 million of them are women, and an estimated 600,000 children work in illegal artisanal gold mines. Artisanal miners use rudimentary methods to extract and process gold. Many of these people are mining to escape extreme poverty , unemployment and landlessness . In Ghana, galamsey miners are estimated to number 20,000 to 50,000. In neighboring francophone countries, such workers are called orpailleurs . In Brazil, Venezuela, Suriname, and French Guiana, workers are called garimpeiros . These workers are not required to claim responsibility for their social and environmental impacts. Miners risk government persecution, mine shaft collapses, and toxic poisoning from unsafe chemicals used in processing, such as mercury. For example, in Ghana during 2009,
1407-428: Is the largest corporate taxpayer in the country. The mine has generated an environmental conflict , because pollution from the tailings dam and windblown particulates have contaminated rivers and killed local livestock who ingested the toxins. Local communities say that the mine has ruined their lives and caused many health problems: skin lesions are common; children are sickened by chemical vapors; and agricultural land
SECTION 20
#17327839978451474-554: Is the largest gold mine in Latin America and 13th largest gold mine in the world. The mine is run by Pueblo Viejo Dominicana Corporation (PVDC), which is 60% owned by Barrick Gold Corporation and 40% owned by Newmont Corporation. Pueblo Viejo employs approximately 2,350 employees and 2,500 contractors. The economic activities of the mine represent 2% of the Dominican Republic’s gross domestic product and Pueblo Viejo
1541-619: Is the only gold company in the S&;P 500 stock market index. The Newmont Company was founded in 1916 in New York by Colonel William Boyce Thompson as a holding company to invest in Worldwide mineral , oil , and related companies. According to company lore, the name "Newmont" is a portmanteau "New York" and "Montana", reflecting where Thompson made his fortune and where he grew up. Newmont made its first major gold investment in 1917, with
1608-633: Is then converted to relatively pure gold through gold parting . There are many environmental hazards associated with this extraction method, largely due to the high toxicity of the cyanide compounds. Furthermore, there are potentials for accidental spills or leaks to cause harm to aquatic ecosystems and human health. For example, in 2000, the Baia Mare cyanide spill in northern Romania released approximately 100,000 cubic metres (3,500,000 cu ft) of waste water contaminated with heavy metal sludge and up to 120 long tons (122 t) of cyanide into
1675-532: Is unknown, but some of the oldest known gold artifacts were found in the Varna Necropolis in Bulgaria . The graves of the necropolis were built between 4700 and 4200 BC, indicating that gold mining could be at least 6,724 years old. During a series of excavations carried out between 1878 and 1992, several graves were found with more than 6kg of gold. A group of German and Georgian archaeologists claims
1742-423: The 1971–72 Namibian contract workers strike over the contract labor system and apartheid . In the 1980s, Newmont thwarted five takeover bids – from Consolidated Gold Fields ( ConsGold ), T. Boone Pickens , Minorco , Hanson Industries and James Goldsmith – who sought to break Newmont apart and sell its assets to increase shareholder value. In 1987, defending against a $ 6.3 billion bid by T. Boone Pickens,
1809-635: The British royal family . During the 19th century, numerous gold rushes in remote regions around the globe caused large migrations of miners, such as the California Gold Rush of 1849. This is one of the most famous gold rushes in history. The discovery of gold at Sutter's Mill in California sparked a massive migration of people from around the world to California in search of gold. The rush significantly accelerated westward expansion in
1876-722: The Bronze Age , sites in the Eastern Desert became a great source of gold-mining for nomadic Nubians, who used "two-hand-mallets" and "grinding ore extraction ." By the Old Kingdom , the oval mallet was introduced for mining. By the Middle Kingdom , stone mortars to process ores and a new gold-washing technique were introduced. During the New Kingdom , Nubian mining expanded under Egyptian occupation with
1943-578: The Dompoase mine collapse killed 18 workers. It was the worst mining disaster in Ghanaian history. Children in these mines suffer extremely harsh working conditions and various hazards such as collapsing tunnels, explosions, and chemical exposure. Children may be especially vulnerable to these hazards and many suffer from serious respiratory conditions, hearing, and vision problems. Gold mining by large multi-national corporations produces about 80% of
2010-690: The Kolar gold fields was mined to a depth of 50 metres (160 ft) during the Gupta period in the fifth century AD. During the Chola period in the 9th and 10th century AD, the scale of the operation grew. The metal continued to be mined by the eleventh century kings of South India, the Vijayanagara Empire from 1336 to 1560, and later by Tipu Sultan , the king of Mysore state and the British. It
2077-462: The Sakdrisi site in southern Georgia , dating to the 3rd or 4th millennium BC, may be the world's oldest known gold mine. Gold has been prized by humans since prehistoric times. Archaeological evidence suggests that humans were mining gold as far back as 4000 BCE, with some the earliest known gold artifacts dating back to ancient Mesopotamia . Particularly in the region of present-day Iraq, gold
Newmont - Misplaced Pages Continue
2144-517: The Tisza River. Historically, mercury was used extensively in placer gold mining in order to form mercury-gold amalgam with smaller gold particles, and thereby increase the gold recovery rates. First, the gold ore is crushed and ground to a fine powder to expose the gold particles for amalgamation. Then, this finely ground ore is mixed with liquid mercury to amalgamate it. Mercury forms an amalgam, an alloy, with gold particles to allow for
2211-574: The Amazon rainforest, Indigenous peoples have been killed and had their rightfully owned land stolen from them. As a consequence of this, some have left the rainforest to move to cities which further puts them at risk to disease, homelessness, and poverty. Artisanal gold mining is widespread across Africa , occurring in numerous countries including Ghana , Mali , Burkina Faso , Tanzania , Zimbabwe , and many others. For many individuals and communities in rural Africa, artisanal gold mining represents
2278-918: The Eastern Roman Empire Emperor Justinian's rule, gold was mined in the Balkans, Anatolia, Armenia, Egypt, and Nubia. In the area of the Kolar Gold Fields in Bangarpet Taluk , Kolar district of Karnataka state, India; gold was first mined prior to the 2nd and 3rd century AD by digging small pits. Golden objects found in Harappa and Mohenjo-daro have been traced to Kolar through the analysis of impurities – the impurities include 11% silver concentration, found only in KGF ore. The Champion reef at
2345-469: The Highlands during the 16th and 17th century. Gold deposits were discovered in rivers and streams, leading to a surge in prospecting and mining activity. The Scottish Crown took an interest in gold discoveries, in hopes of aiding the kingdom's economy and revenue. King James IV of Scotland established a royal mint to produce gold coins from Scottish gold. The Scottish gold rush eventually waned due to
2412-954: The Middle Ages, Europe experience several gold rushes. Most notably in regions like Transylvania, Scotland, and Wales. These rushes were often small-scale and localised compared to later rushes in history. The Transylvania gold rush took place in the Kingdom of Hungary (present-day Romania ), primarily in the region of Transylvania during the medieval period. Transylvania was known for its rich mineral resources including gold, silver, and other metals. Miners in Transylvania used both surface and underground mining techniques to extract gold from alluvial deposits and veins. These methods include panning, sluicing, and rudimentary shaft mining. The Scottish gold rush occurred in Scotland, primarily in
2479-600: The United States and had profound effects on the region's economy and society. The gold rushes began in 1851 when Edward Hargraves , a prospector, discovered gold near Bathhurst , New South Wales . The most well known gold rush in Australia was the Victorian Gold Rush . Thousands of people, known as 'diggers', came from around the world to Australia in search of gold, which ultimately contributed to
2546-484: The United States gold dredging areas specify a seasonal time period and area closures to avoid conflicts between dredgers and the spawning time of fish populations. Some US states, such as Montana, require an extensive permitting procedure, including permits. Some large suction dredges [100 horsepower (75 kW) & 250 mm (10 in)] are used in commercial production throughout the world. Small suction dredges are much more efficient at extracting smaller gold than
2613-580: The box as tailings . Larger commercial placer mining operations employ screening plants, or trommels , to remove the larger alluvial materials such as boulders and gravel, before concentrating the remainder in a sluice box or jig plant. After the gold is sorted through trommels, it is then placed through regular sluice boxes for further sorting. These operations typically include diesel powered, earth moving equipment including excavators, bulldozers, wheel loaders , and rock trucks. Although this method has largely been replaced by modern methods, some dredging
2680-489: The company acquired Canada's Fronteer Gold Inc. for CA$ 2.3 billion. This made the company the world's second-largest gold producer. In 2017, Newmont produced 5.65 million ounces of gold at all-in sustaining costs of US$ 924 per ounce. The company reported adjusted net income of $ 780 million for the year, and further reduced net debt down to US$ 0.8 billion. In 2019, it acquired Canada's Goldcorp for $ 10 billion. In May 2023, Newmont agreed terms to purchase Newcrest . The Deal
2747-538: The company eliminated its 1.5 million ounce legacy hedge book to make Newmont the world's largest unhedged gold producer. The following year, Newmont acquired Miramar Mining Corporation and its Hope Bay deposit in the Canadian Arctic. In 2009, Newmont purchased the remaining one-third interest in Boddington Gold Mine from AngloGold Ashanti, bringing its ownership to 100 percent. In April 2011,
Newmont - Misplaced Pages Continue
2814-474: The company paid a US$ 33 per share special dividend to all shareholders , US$ 2.2 billion in cash, of which US$ 1.75 billion was borrowed. To reduce this debt the company undertook a divestment program involving all of its copper, oil, gas, and coal interests. As a further step in the restructuring, the company moved its headquarters from New York City to Denver in 1988. A decade later, Newmont Mining Corporation and Newmont Gold Company combined assets to form
2881-506: The company's Minahasa Raya mine polluted Buyat Bay . The company was cleared by an Indonesian court, with the judge ruling the pollution charges could not be proven. In 2009, a group of NGOs awarded Newmont with the Public Eye on Davos award (a criticism for "purely profit-oriented globalization") for its Akyem project in Ghana. Newmont said the award was issued based on several paragraphs of text which “clearly were intended to distort
2948-600: The company's exploration geologist. Searls retired in 1954, and Plato Malozemoff took over as president. Newmont began mining at Carlin, Nevada , in 1965. The " Carlin Trend " or "Carlin Unconformity" is the largest gold discovery in North America during the 20th century. In 1971 Newmont began heap leaching low grade ores there. In 1971, the South-West African (now Namibia ) Tsumeb & Kombat mines managed by Newmont, had its operations stopped during
3015-432: The efficient capture of gold from the ore. The gold is concentrated by boiling away the mercury from the amalgam . This process is called retorting. This is effective in extracting very small gold particles, but the process is hazardous due to the toxicity of mercury vapour. Large-scale use of mercury stopped in the 1960s. However, mercury is still used in artisanal and small-scale gold mining (ASGM). While most gold
3082-762: The extraction process. This pollution can have detrimental effects on aquatic ecosystems and human health. Soil degradation has also been found to be impacted by gold mining. Mining activities can disturb soil structure, leading to erosion, sedimentation of waterways, and loss of fertile land for agriculture or vegetation regrowth. More evidently, dust and emissions from mining machiner and processing facilities can contribute to air pollution, impacting air quality and potentially causings respiratory problems for nearby communities. Large-scale gold mining projects may require land acquisition and resettlement of local communities, leading to displacement, loss of livelihoods, and disruption of traditional ways of life. In addition to
3149-654: The facts”. In 2010, Newmont was fined $ 4.9 million by the Ghanaian Environmental Protection Agency for not preventing, reporting and investigating a cyanide spill at Ahafo mine in an "appropriate and timely manner". Pueblo Viejo mine is an open-pit gold and silver mine in the Sánchez Ramírez Province of the Dominican Republic where mining operations started in 2012 and expect to cease in 2041. It
3216-694: The gold supply. Most gold is mined in developing nations. Large mining companies play a key role in globalisation of the economy by linking rich and poor companies. Newmont and Barrick Gold are the largest gold mining companies in the world, but there are many smaller corporations in the industry. Local communities are frequently vulnerable to environmental degradation caused by large mining companies and may lack government protection or industry regulation. For example, thousands of people around Lega Dembi mine are exposed to mercury, arsenic, and other toxins resulting in widespread health problems and birth defects. Vulnerable communities may also lose their land to
3283-567: The growth of cities like Melbourne and Sydney . The discovery of gold in the Witwatersrand led to the Second Boer War and ultimately the founding of South Africa. This transformed the region into one of the wealthiest gold-producing areas in the world. This rush played a crucial role in the development of South Africa's economy and lead to the establishment of Johannesburg, known as the 'city of gold'. Gold-bearing reefs in
3350-765: The heat is unbearable for humans, and air conditioning is required for the safety of the workers. The first such mine to receive air conditioning was Robinson Deep , at that time the deepest mine in the world for any mineral. Gold is also produced by mining in which it is not the principal product. Large copper mines, such as the Bingham Canyon mine in Utah, often recover considerable amounts of gold and other metals along with copper. Sand and gravel pits, like those in Denver (Colorado), may recover small amounts of gold in their wash operations. The largest producing gold mine in
3417-595: The invention of the grinding mill . Additionally, gold was associated with the sun god Ra and was believed to be eternal and indestructible, symbolising the pharoah's divine power and afterlife. Gold has also been found in the tombs of Tutankhamun and other pharoahs. During the Bronze Age, gold objects were also plentiful; especially in Ireland and Spain. Romans employed slave labour and used hydraulic mining methods, such as hushing and ground sluicing on
SECTION 50
#17327839978453484-461: The lowest ever recorded for tropical forests, with there being little to no tree regeneration at abandoned mining camps, even after several years. The Amazon rainforest is at risk for 'savannization', which is the gradual transformation of a tropical rainforest into a savannah. This would ultimately lead to a collapse of biodiversity, ecosystems, and climate. Gold mining produces more waste than mining of other minerals, because it can be mined at
3551-729: The middle of the 20th century, Newmont had a controlling interest in the Tsumeb mine in Namibia and in the O'Okiep Copper Company in Namaqualand , South Africa . Beginning in 1925, Newmont acquired interests in a Texas oil field . Eventually, Newmont's oil interests included more than 70 blocks in the Louisiana, Gulf of Mexico area and oil and gas production in the North Sea . Fred Searls became president in 1947, after serving as
3618-663: The mine. Some large companies have attempted to build local legitimacy through corporate responsibility initiatives and local development. Gold mining can significantly alter the natural environment. Gold mining activities in tropical forests are increasingly causing deforestation along rivers and in remote areas rich in biodiversity. Mining has increased rainforest loss up to 70km beyond lease boundaries, causing nearly 11,670 km of deforestation between 2005 to 2015. Up to 9% of gold mining occurs outside of these regulated lease boundaries. Other gold mining impacts, particularly in aquatic systems with residual cyanide or mercury (used in
3685-744: The neighbouring Free State province were found shortly thereafter, driving significant development in the region with the establishment of the Free State goldfields . Also known as the Yukon Gold Rush , brought prospectors from around the world to the Klondike region of the Yukon territory in Canada . The Klondike Gold Rush began in 1896, when gold was discovered in Bonanza Creek ,
3752-413: The old bucket line . This has improved the chances of finding gold. Smaller dredges with 50-to-100-millimetre (2 to 4 in) suction tubes are used to sample areas behind boulders and along potential pay streaks, until "colour" (gold) appears. Other larger scale dredging operations take place on exposed river gravel bars at seasonal low water. These operations typically use a land based excavator to feed
3819-688: The possible respiratory problems that could be acquired, individuals may be exposed to hazardous chemicals used in gold extraction such as mercury and cyanide. These chemicals pose risks to gold miners, communities, and wildlife; resulting in further medical problems involving neurological disorders and waterborne diseases . Gold mining in some regions has been associated with conflicts over land rights, labour rights violations, and exploitation of vulnerable populations, including Indigenous peoples and artisanal miners. Mining activities can damage or destroy cultural heritage sites, artifacts, and sacred areas; further impacting cultural identities and heritages. In
3886-407: The recovery of gold from ore), can be highly toxic to people and wildlife even at relatively low concentrations. Illegal gold mining exacerbates the ecological vulnerability of the remaining forest ultimately leading to permanent forest loss. Gold mining clears native forests for mineral extraction, but also indirectly facilitates access to more land and further clearing. Rainforest recovery rates are
3953-549: The sluice box. A rocker box uses less water than a sluice box and is well suited for areas where water is limited. A rocking motion provides the water movement needed for the gravity separation of gold in placer material. Rocker boxes gained popularity during the California Gold Rush in the 19th century and remain in use today. Although simple and inexpensive, it is not efficient as the previously discussed mining techniques . The dominant method for refining gold
4020-630: The surface has led to more complex extraction processes such as pit mining and gold cyanidation . In the 20th and 21st centuries, most volume of mining was done by large corporations. However, the value of gold has led to millions of small, artisanal miners in many parts of the Global South . Like all mining, human rights and environmental issues are common in the gold mining industry, and can result in environmental conflict . In mines with less regulation, health and safety risks are much higher. The exact date that humans first began to mine gold
4087-467: The surrounding rock or sediments. Unlike hard-rock mining, which involves excavating solid rock formations, water or dredging is used to extract the gold. Using a sluice box to extract gold from placer deposits has long been a very common practice in prospecting and small-scale mining. Sluices work on the principle that heavier particles will sink to the bottom of a stream, while those that are lighter will be carried downstream and expelled. A sluice box
SECTION 60
#17327839978454154-474: The world's gold. Sometimes open-pit mining is used, such as at the Fort Knox Mine in central Alaska. Barrick Gold Corporation has one of the largest open-pit gold mines in North America located on its Goldstrike mine property in north eastern Nevada. Other gold mines use underground mining, where the ore is extracted through tunnels or shafts. South Africa has the world's deepest hard rock gold mine up to 3,900 metres (12,800 ft) underground. At such depths,
4221-613: The world, the Grasberg mine in Papua, Indonesia, is primarily a copper mine. Gold panning , or simply panning , is a form of placer mining and traditional mining that extracts gold from a placer deposit using a pan. The process is one of the simplest ways to extract gold, and is popular with geology enthusiasts especially because of its low cost and relative simplicity. The first recorded instances of placer mining are from ancient Rome , where gold and other precious metals were extracted from streams and mountainsides using sluices and panning ( ruina montium ). Placer mining
4288-663: Was China with 368.3 tonnes of gold mined in that year. The second-largest producer of gold was Russia where 331.1 tonnes was mined in the same year, followed by Australia with 327.8 tonnes. In 2023, the annual gold demand of 4,448 tonnes was 5% below that of 2022. The total gold demand in 2023 was the highest at 4,899 tonnes. Despite its decreasing content in ores, gold production is increasing. This increase can be achieved through ever larger-scale industrial installations as well as innovations, especially in hydrometallurgy . Hard rock mining extracts gold encased in rock, rather than fragments in loose sediment, and produces most of
4355-433: Was completed in November 2023. Goldcorp had previously been under public scrutiny for documented human-rights abuses, including poisoning river-water that led to severe illnesses in local children living close to the mining operation ( https://theviolenceofdevelopment.com/the-true-cost-of-gold-in-honduras/ ) In August 2004, the Indonesian Ministry of Environment filed a civil lawsuit against Newmont, claiming tailings from
4422-409: Was discovered in 1961. Official estimates indicate that total world gold production since the beginning of civilization has been around 6,352,216,000 troy ounces (197,576.0 t) and total gold production in Nevada is 1.1% of that, ranking Nevada as one of the Earth's primary gold-producing regions. World gold production was 3,612 tonnes in 2022. As of 2020 , the world's largest gold producer
4489-518: Was mined extensively. The ancient Sumerians , around 2500 BCE, developed sophisticated techniques for extracting gold from alluvial deposits and underground mines. These techniques included the use of sluice boxes. Evidence suggests that Nubia had sporadic access to gold nuggets during the Neolithic and Prehistoric Period . Gold mining in Egypt involved both surface mining such as panning for gold in riverbeads and underground mining, where tunnels were dug to extract gold-bearing quartz veins. During
#844155