Innovations and Breakthroughs in the Gold and Silver Industries by Vaikuntam Iyer Lakshmanan & Barun Gorain

Author:Vaikuntam Iyer Lakshmanan & Barun Gorain
Language: eng
Format: epub
ISBN: 9783030325497
Publisher: Springer International Publishing

7.1.3 Technology and Process Metallurgy Risk

As mentioned in previous sections , large and high-grade gold deposits are increasingly difficult to find, forcing prospectors to pursue the development of difficult gold deposits such as those that are resistant to the common cyanite process, have complex mineralogy, are low grade, and yield lower recovery rates. Motivated by higher gold prices that have stayed above $1050 per ounce (between 2009 and 2018), gold prospectors have been trying to find economic ways of processing these fine grain, refractory gold ore, and low-grade deposits.

European Union nations are increasingly looking at developing their own resources, partially motivated by the growing resource nationalism around the world. However, in the case of gold, there have not been any major discoveries in Europe and many of the deposits and historical mines have low resources, are deep and costly to operate, and require complex extraction methods (Lehrberger 1995). To support the development of the gold mining industry, the European Union has sponsored several initiatives like PolymetOre , which is an industry-led initiative that includes mining companies, chemical companies, universities, and private and government laboratories. A breakthrough in extraction metallurgy of complex gold ore should increase world resources and production.

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