gold mining equipment cost

the true cost of producing an ounce of gold | provident

the true cost of producing an ounce of gold | provident

Our planets gold reserves are limited, which is part of what makes the yellow metal such a valuable resource. This means that finding and mining gold can be a very costly endeavor. But just how much does it cost to produce an ounce of gold? Its very difficult to determine exact numbers, but mining companies have methods of estimating production costs.

Mining costs were grossly underestimated up through the 1990s. Companies would report cash costs on their financial statements, which measure the costs specifically tied to extracting gold from the ground. These costs ran from $500 to $800 per ounce, depending on the location of the mine. But these cash costs failed to consider the expense of running a company, buying and repairing equipment, adhering to compliance regulations, and such.

A new metric has since been developed by the World Gold Council to report the all-in sustaining costs of mining gold. These numbers report that the cost of extracting an ounce of gold is actually over $1,000 per ounce, well above the aforementioned numbers. And since gold is currently trading at just over $1,200 per ounce, it explains why mining companies have had less-than-stellar profits.

Determining the costs of mining largely depend on the region as well. The cost differentiation depends on a variety of factors, such as the type of mine, the areas regulations, the security of the area, taxation, legal hurdles, etc.

As you can see, the cost of mining gold goes well beyond the act of pulling the metal from the ground. Fortunately, more than one-third of gold is recycled from old jewelry, electronics, dentistry, etc. This means that not all consumables made with gold must rely solely on gold that has been freshly sourced from the ground. Relying more on recycling as a continuous source of gold may prove beneficial as gold reserves in the ground dwindle.

Much of the gold found on earth was mined and prospected many years ago. The process of finding and mining new sources of gold is a challenging endeavor. Our mining techniques have grown more sophisticated in modern times, but we can still only mine what is available. And the more scarce gold becomes, the more likely we are to see prices increase.

Since Australia has some of the worlds richest natural gold deposits, perhaps you might be interested in the 2017 1 oz Gold Australian Kangaroo, which also comes in several fractional weights to meet your budgetary needs.

Would love to see some sort of analysis of the resource cost involved. Electricity, fuel etc. With cryptocurrencies currently being accused of using too much electricity to mine. How does gold compare?

mine & mill equipment cost guide - costmine

mine & mill equipment cost guide - costmine

Estimators, engineers, mine planners, appraisers and purchasing agents have relied on the Mine & Mill Equipment Cost Guide for over 20 years. Gathered directly from the source, with manufacturers, dealers and mining companies providing the most current information available.

Our Equipment Cost Guide is the most reliable source of equipment costs available to the mining industry. Estimators now have access to a convenient source of hourly operating costs as well as capital costs for virtually every piece of equipment listed in our previous guides.

Included are capital and operating costs for over 3,000 equipment items most commonly found at mines and mills around the world from 2 HP pumps to 2,000 HP trucks, from $200 slusher buckets to $30,000,000 walking draglines.

Calculate capital and hourly operating costs for virtually every equipment item needed for your project in a matter of minutes. Never guess at costs or waste time trying to locate a manufacturer to give you prices. The Mine & Mill Equipment Cost Guide has tabulated all the cost data you need in a convenient look-up format. Our capital costs are actual list prices or reliable estimations, and our operating costs are solid engineering estimates.

The Mine & Mill Equipment Cost Guide covers more than 3,000 items of mobile, portable, and stationary equipment commonly required by mining and milling operations. Select from a full range of sizes and types, with productivity information for many items.

Our equipment cost data also comes in a convenient online format. The Equipment Cost Calculator allows you to build your equipment fleet, tabulate its costs, adjust for local economics and conditions, and export the data into your own spreadsheet for further analysis.

mining 101: ultimate list of gold mining equipment - precious metal info

mining 101: ultimate list of gold mining equipment - precious metal info

Found in Bulgaria are some of the oldest gold artifacts known to mankind, in the Varna Necropolis, a collection of graves built between 4700 and 4200 BC. This finding, dating back nearly 7000 years, provides evidence of the first civilization to use gold mining equipment. Some archeologists claim the Sakdrisi site in southern Georgia, which dates to roughly 4000 BC, is the worlds first gold mine.

In the 19th century, gold rushes occurred around the globe and people migrated to different regions hoping to strike it rich. The Victorian Gold Rush took place in Victoria, Australia, between 1851 and the late 1860s, and the Second Boer War took place in South Africa between 1899 and 1902. In America, the famous California Gold Rush took place in 1949, and discovery of Nevada's Carlin Trend,North America's largest gold depository,took placein 1961.

Since the beginning of civilization, humans have mined around 6 billions troy ounces of gold. Today, 2.5 percent of all gold production happens in Nevada, making it one of the primary regions on earth. As of 2017, China produced the most gold per year at 429 metric tons, followed by Australia, and then Russia. However, there's still a lot of gold out there, and you can join in the gold mining industry by investing in basic gold mining equipment.

There are two basic steps to gold mining: prospecting and production. "Prospecting" refers to the actual search in a certain area for valuable minerals, and "production," also known as mining, is the physical act of removing the gold from where you found it. Since different equipment exists for prospecting and mining, this article explores, briefly, equipment used for prospecting, and then focuses, primarily, on gold mining equipment.

How do you find gold? In the gold mining industry, theres a lot of value in learning from others who have gone before you. No one ever gets all the gold out of any one location. So, try going to where gold exists in abundance. Consider this: the California Gold Rush only removed a small percentage of the gold thats out there. That's right.

There are areas in California that are still open to recreational prospecting, including the Auburn State Recreation Area and the South Yuba Recreation lands. Once you get your feet wet in an area proven to have gold, you can move on to other areas closer to home. After mastering prospecting and gold-mining techniques, you might even want to look for gold in your own back yard.

Some people say, Gold is where you find it. What this means is you have to learn what to look for. First, understand that the way water moves in rivers and streams determines where gold deposits might settle. Next, you need to learn why gold concentrates in certain areas, and then search those areas.

Once youve selected a specific waterway for mining, youll want to pick specific points to search. Since it is impractical to search the entire stream or river, there are ways to read a waterway to determine the most likely places to find gold. The following describes how to find those places.

The first thing to know is gold is heavy. Its about 19 times heavier than the same amount of water and 6 times heavier than solid material found in streams and rivers. So, anything that slows the movement of water is likely to trap gold deposits. Things that slow down moving water are:

Water on the downriver side of obstacles will move slower, and this is where heavier gold will settle. When looking at a chosen waterway, begin by searching for natural dams where gold may have collected. Another place that collects heavier objects in a waterway is inside bends, places where water naturally slows down. Heavy objects will often form a bar at these points, and the upside of a bar inside bends is a great place to look for gold.

Once gold has settled in a stream, over time, it works its way down layers of soil and settles in bedrock. A great location for gold is in the material coating bedrock under a stream. Choose a location on the inside a bend where there is an obstruction and then dig to the bedrock. Sifting the soil coating bedrock, usually, will produce gold.

Learn to delay the excitement of seeing gold for the first time and you will have more gold-filled dirt to take home with you. Once you get better at choosing locations, and especially if you find a proven location, its best to spend your time digging and removing dirt, rather than sifting and cleaning it on site. Delay celebrating and get as much dirt as possible to take home. Once you get home, sift and clean the gold youve found.

Another great place to look for gold is in tall grass growing above an inside bend. Grass acts like a sieve and the largest gold pieces end up at the roots of grass. They often call this kind of gold oat gold. The pieces might be smaller than gold found in other places, but there could be a lot.

If you want to invest a little in your endeavor, you can purchase a metal detector designed to find gold. This gold mining equipment can cut down on the time spend hunting, but a mid-level detector can cost about $600.

When considering getting involved in gold prospecting and mining, make sure you learn and follow the rules. There are certain places where prospecting is legal and others where it is not. Many prospecting clubs exist and joining one can help ensure you are following rules. For examples, most sites require that you refill any holes you have dug, and that you do not destroy local plant life. Learn the rules before you head out with your gold mining equipment.

Once youve finished prospecting and have a location where you know there is gold, you will need gold mining equipment. What you use will depend on the size of your operation. If you are working in the gold industry, you will have industrial gold mining equipment. If you are mining on your own as a hobby, youll need smaller, personal gold mining equipment. Lets look at both.

If you want to use industrial mining equipment, make sure you have the proper training. If working for a business, they should provide needed training. However, if you purchased industrial gold mining equipment for a personal claim, be certain you know what you are doing. Safety should always come first.

Miners use drills for underground mining to create access holes for descending underground, or to place explosive charges to bring material to the surface. The drill miners choose depends on how and what is being mined.

Blasting tools create an explosion to blast away chunks of material to access minerals. Blasting can also remove chunks of unwanted materials that are keeping other machines or people from getting to a seam of wanted materials. In underground and open pit mines, miners use both drilling and blasting tools, often together. They use drills to place blasting tools at the right depth and in the right place.

Earth-moving machines move around large amounts of materials. They might haul material after blasting, move other materials allowing access to seams of minerals, dig underground mines, or get down to the bedrock where minerals might exist.

Crushing equipment moves materials around an underground mine. Miners use this equipment to keep the flow of materials going at an efficient rate, and to save money. It is easier to remove crushed rocks rather than heavy chunks, so crushing equipment saves time and effort.

A sluice box is a way to sift through raw material more quickly. Essentially, its automated panning. These machines used to be large and heavy in the early days of panning, but are now lightweight and easier to use. If youre serious about mining, they are worth checking out.

A higher quality sluice box, high banker boxes have a water pump allowing more material to move through faster. These boxes recycle water so you dont have to rely on water flow in the river. They recover more gold than basic models.

If you arent going into the professional gold mining industry, but are looking for a hobby or a part-time job to bring in a little extra money, consider joining a mining club to help you once you begin your prospecting journey. The club will help you learn about personal gold mining equipment, but, for now, lets take a quick look at what you will need.

There are lots of different sizes, colors, and options in gold pans. Essentially, a 14-inch plastic pan is the best size, by far. Color does not matter, however gold shows up better in black. Black sand shows up better in blue or green. There are many new kinds of pans, but a basic pan with sharp, undercut riffles is all you need. Make sure the bottom of the pan is as wide as possible to catch more gold.

You will need a place to store the gold you find. All you need is a waterproof container you can close tightly, such as a 35mm film container. You can purchase containers on the internet, specifically made for holding gold.

The last thing to consider is investing in Gold Lab, a personal system that recovers gold from the concentrate you have refined. A good gold panner can get most of the gold from refined dirt, but a Gold Lab kit will allow you to further refine and recover 100% of your gold.

Once you have your equipment, its time to get in the river to pan for gold. This simple technique mimics what the river does naturally. You recover material, or dirt and place it in the pan, from a river location where you think there might be gold. Then, you shake it in a left-to-right motion underwater to sweep away light materials while causing heavier materials to go to the bottom of the pan.

Take the pan with the riffles on the far side and shake it, vigorously, left and right. This breaks up materials sending heavier items to the bottom. Do not slosh water out of the pan. If you need to, repeat the previous step and break up larger chunks again.

Continue shaking the pan back and forth and keep removing the top layer of lighter materials until you are down to only the heaviest materials, such as coins, BBs, old bullets, buckshot, nails, garnets, black iron rocks and black sand. You should now be able to see gold in the pan when shaking and tilting it forward slightly.

Use a magnet to remove black sand and other metal objects. Keep removing things until only gold remains. Remove the larger gold pieces and save any leftover concentrate. Let it sit for a while so you can recover any remaining pieces of gold that settle.

If you have enjoy the outdoors, and have just a little ambition, you can make a hobby out of gold prospecting and mining. All you need are basic tools that as your gold mining equipment and the willingness to do a little research. Once you decide where to go, or join a mining club to help you find locations, pack up your tools and prospect. It may take practice at panning before you find anything, but once you do, youll love the feeling of satisfaction and discovery. If you find you enjoy the hobby, invest in semi-professional gold mining equipment and see if you can up the amount you discover. Even if you only discover a few flakes, prospecting can be a great way to make new friends, learn about the gold industry, and understand a little about gold prospectors of old. Its an inexpensive hobby, so grab basic gold mining equipment and get started today.

911MPE has for target market what mining professionals consider the pilot-plant scale mining operation or artisanal mining operations with a focus around under 500TPD. Metals you can extract include: gold, silver or other of the precious group as well as the classic base metals; copper, lead, zinc, nickel, molybdenum. Much of our ultra-small scale equipment allows you to process from just a few kilo (pounds) per day and work on your passion for a small budget.

gold mining equipment for sale manufactured by minequip

gold mining equipment for sale manufactured by minequip

Minequips gold mining equipment is manufactured for commercial use in small to medium sized gold recovery operations, and our gold mining equipment is used successfully in production gold mines in New Zealand, Mongolia, Papua New Guinea, Bolivia, Ghana and Cameroon.

Based on the West Coast of New Zealands South Island, Minequip knows gold mining equipment mainly because, the gold rushes started here back in 1865. After all, those first pioneers have passed down their knowledge of gold mining equipment through the generations and our design engineers have over 60 years combinedexperiencein the gold mining equipment and engineering industry.

gold mining equipment

gold mining equipment

911MPE hassmall gold mining equipment for sale andmore specifically mineral processing equipment. Our equipment is best used in small scale extractive metallurgyoperations operated by small miners or hobbyist prospectors and mining fanatics. 911MPE offers gold mining equipment as well as processing equipment applicable to most any base metals: copper, lead, zinc, nickel, tin, tungsten and more. For the relatively small size of equipment offered, sample preparation and metallurgical laboratories can economically buy good alternatives to the usually unaffordable equipment for sale in the classic market place.

911MPE has for target market what mining professionals consider the pilot-plant scale mining operation or artisanal mining operations with a focus around under 500TPD. Metals you can extract include: gold, silver or other of the precious group as well as the classic base metals; copper, lead, zinc, nickel, molybdenum. Much of our ultra-small scale equipment allows you to process from just a few kilo (pounds) per day and work on your passion for a small budget.

You can buy from us mineral processing equipment starting from crushing, grinding, classification, dredging, gravity separation, flotation, pumps, water treatment and smelting. A line of ovens, furnaces and laboratory equipment is also available.

Making a complete list of gold mining equipment starts with defining the type of gold mining you are doing and the budget you have at your disposal. The type of mining relates to hard rock,eluvial, or placer; alluvial deposits. The capital budget you have to invest in buying your equipment with dictate the scale at which you want to mine and influence the long-term operating costs of your mining operation.

Since most of the information online provides lists of gold mining equipment for amateur level mining with equipment like: gold pans, metal detectors, mini sluice box, blue bowl, geologist rock pick, soil scoop, hand screens/classifiers. The items listed just now fall closer to gold prospecting tools and equipment than actual mining.

I will present here what I consider are major equipment lists for 3 types of mining operations. Remember now, a metallurgist is writing. This will not be flawless and since my speciality is process equipment, that is mostly what will be discussed.

Some amateur level gold prospecting equipment such as metal detectors are often classified as mining equipment by small miners/prospectors operating as a hobby. These items include but are not limited to:

the cost of producing an ounce of gold | american bullion

the cost of producing an ounce of gold | american bullion

Although gold has been used as jewelry and currency for thousands of years, it also has many other uses. For instance, many electronics and medical appliances use gold for its excellent and durable conductive properties. Investors and banks also hold onto gold as a loose form of commercial insurance against dramatic economic events. Individuals, businesses, and governments continue to clamor for more gold. Gold reserves are finite, and pulling new gold out of the ground can be very expensive. In fact, it is common to hear industry insiders cite $1,200 as the all-in cost for mining a single ounce of gold.

In the 1990s, mining companies picked up the habit of reporting cash costs on their financial statements. This is a non-GAAP and non-IFRS measure that combines the costs of mining gold and the costs of complying, bringing gold to market, and selling it. However, cash costs ignore the expenses associated with sustaining capital equipment, as well as general and administrative expenses.

To more accurately relay the true expenses of production, the World Gold Council developed a new measure: all-in sustaining costs. This measure does not leave out as many associated costs, but it can be easy for a company to exaggerate or play accounting tricks to make its margins appear smaller or larger than they actually are.

The practical, regulatory, and security costs associated with gold production can vary dramatically from region to region. The most expensive place in the world to mine gold is in South Africa. There, all-in gold production costs can be more than twice as much as in Peru, which is the least expensive place to mine gold. According to the Thomson Reuters GFMS Gold Mine Economics Service, average all-in costs for South Africa were over $1,400 between 2005 and 2013. Compare that to less than $700 in Peru, approximately $850 in the United States, $1,100 in China, and $1,200 in Australia.

South African gold mines are relatively insecure, mainly because South Africa remains a relatively dangerous place to conduct business. Companies there may have to hire additional security because the region lacks the property rights protection, police presence, and just legal systems of more developed regions.

This is where exploratory drilling and extensive geochemical analysis take place. Once a potential spot is identified, gold companies often need to halt the process until the local authority grants an exploration license (along with other approvals and/or studies).

The stage where a gold mining company prepares the new site for construction. New buildings, roads, and mining apparatus need building. Sometimes, old buildings or structures need clearing out before construction begins. This process can last for years.

Rehabilitation rules vary from location to location, but nearly all modern gold excavation sites must be restored to pre-exploration conditions or at least as close as possible, within reason. Rehabilitating a gold mine can be very expensive.

The last stage involves an assessment by the local authorities. If the government believes the company has done enough to return the site to a natural state, the company many relinquish its lease, tenure, and liability for the area.

During large chunks of the 20th century, the worlds central banks were net suppliers of gold. After spending their early history accumulating gold to back up national currencies, central banks sold more gold than they purchased after the U.S. dollar became the de facto world reserve currency under the Bretton Woods Agreement.

According to the United States Geological Survey, the worlds largest share of minable gold reserves lie in Australiamore than 9,000 tonnes, or almost 20% of known global reserves. Other notable reserves exist in South Africa, Russia, Chile, Indonesia, the United States, and Brazil.

When it comes to harvesting gold, however, no country is more proactive than China. Despite having just the ninth-largest known gold reserves (a little more than 3% of the global supply), China produces 12-15% of all the worlds new gold each year.

Gold is a rare element, and much of the worlds supply of easily attainable gold was picked up, mined, and prospected long ago. Even though mining efforts are much more sophisticated than they used to be, finding new sources of goldand cost-effectively mining themgrows more challenging each year.

Although the information in this commentary has been obtained from sources believed to be reliable, American Bullion does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. American Bullion will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.

Risk Disclosure: Purchasing precious metals in bullion bars, coins, proof coins, and numismatic coins involves a degree of risk that should be carefully evaluated prior to investing any funds in a Gold IRA or making a cash purchase. American Bullion and its agents are not registered or licensed by any government agencies, and are not financial advisors or tax advisors. Past performance is not indicative of future results. Investors should do their due diligence before committing any money to purchase gold and other precious metals. If you have additional questions, please contact American Bullion.

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