Gold has been used by humankind for centuries along with other precious metals. One-third of gold used today is obtained as a by-product of copper, lead, and zinc production. This precious metal has occupied valuable space in the heart of culture and society. For thousands of years, gold is used to make ornamental objects and pieces of jewelry. Not only for decoration purposes but gold has also been used as the medium of exchange or money.
Usefulness Of Gold
The discovery of a highly valuable element at Sutter’s mill in 1848 has brought a revolutionary change in global history. Gold is a chemical element that is less chemically reactive, more conductive, soft, shiny, ductile, and malleable. It is a metal of the future in the real sense. Gold is the world’s most sought-after mineral appreciated for its unique qualities and value. You might have seen golden teeth in the mouth of people along with natural teeth. Gold is used for dentistry purposes due to its superior performance and aesthetic appeal. This metal is non-allergic and one could easily work with it.
Gold is extremely profitable as it provides a sustainable store of value. As it doesn’t corrode, it is attached to humans physically and emotionally. As gold is a great conductor of electricity, it is suitable for industrial use as well. Its rarity, desirability, exquisiteness, and usability is the major reason behind its high value. Gold is consumed in GPS and satellite technology for easy and quick navigation. Life supporting equipment also has some traces of gold. The value of gold will go up if the demand also goes up. But the supply of gold has remained static for the long term. People believe that investing in gold is safer and they could benefit from it in the future. Companies like Rio Tinto are significantly developing exploration and mining services. The exploration process is a bit challenging and complex. The requirement of a significant amount of time, financial resources, and expertise in several fields, including geography, geology, chemistry, and engineering are needed to be fulfilled appropriately.
Gold Mining
The gold is mined by four different methods that include placer mining, byproduct mining, hard rock mining, and processing of gold ore. All these methods are unique in themselves for the extraction of this great resource.
Gold mining operations are responsible for several indirect or direct employment opportunities for thousands of people. It is important for the development of human resources and infrastructure of numerous public properties. The earnings obtained from copper exports greatly influence the balance of payments, foreign reserves, monetary policy, and level of business activity.
Conclusion
The gold mining companies have played a significant role in developing the economic conditions of various countries. Not only on the macroeconomic level but gold mining operations positively impacts on local and community level. Regardless of the decline in gold production in recent years, gold production has become an important source of wealth for the country. Gold mining companies have the potential to take advantage of rising prices and maximize profits. Collective Mining maiden drilling program advancing with the Box Target. The company has announced that it is mobilizing a second diamond drill rig to the Guayabales Project in Caldas, Colombia. This is a key part of its 7,500-metre maiden drill program that was recently started. Collective Mining has identified five major grass-root drill-ready target areas at the Guayabales Project in 2021. The Box is one of the five targets at the flagship project for the junior exploration company headed by the former team at Continental Gold.
