The gold prices used in this table and chart are supplied by FastMarkets. Where the gold price is presented in currencies other than the US dollar, it is converted into the local currency unit using the foreign exchange rate at the time (or as close to as possible) Learn More
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People in hard hats working underground is what often comes to mind when thinking about how gold is mined. Yet mining the ore is just one stage in a long and complex gold mining process. Long before any gold can be extracted, significant exploration and development needs to take place, both to determine, as accurately as possible, the size of the deposit as well as how to extract and process the ore efficiently, safely and responsibly. On average, it takes between 10-20 years before a gold mine is even ready to produce material that can be refined
Mining Equipment, Gold Mining Equipment, Alluvial Gold Mining Equipment manufacturer / supplier in China, offering Mobile Gold Ore Processing Mining Equipment Supplier Price for Small Scale Rock Alluvial Diamond Mine Placer River Sand Mineral Washing, High Tension Four Roller Electro Static Mineral Separator, Dry Type High Tension Double Roll Electro Static Mineral Separator and so on
Our factory produce both sawtooth way jig and hydraulic radial jig, we produce different size jigs for different process capacity from 1 ton per hour to 300 tons per hour per set.Our jig machine is widely used for concentrating / separating heavy mineals sand, gold and diamond mining, tin (cassiterite), ilmenite, hematite, iron ore, zircon and rutile sand, barite, manganese, tungsten, chromite etc...3). Large process capacity CNC Jig (Jigger Machine).Feeding size: can handle any -30mm materials(<30mm).Process capacity:30 tons per hour per set.CNC adjust stroke and frequency, it is easy to handle the process speed and capacity.Three chambers per set with only one piece 7.5kw electric motor, less electric consumption!4). Traditional Sawtooth Wave Jig
Our company & Customers Visiting Ganzhou Gelin Mining Machinery Co., Ltd is an expert manufacturer of mining machines in China. Our company is located in Guzhang Industrial Zone, Shicheng county, Jiangxi province, covering an area of over 30000 square meters, having more than 30 sets of heavy processing equipment and with an annual outpurt of more than 2000 sets of mining machinery.--- PRE-SALE SERVICE ---
1.Based on clients' request and budget, GELIN experts will strictly make efficient, reliable solutions accordingly;2.Mine sample testing is available, we welcome the customer send the sample to you for testing by courier, or, the customer take the sample to our factory for testing;3. Design and provide the complete processing flowchart;4. Design & manufacturer products according to clients' demands.--- AFTER-SALE SERVICE ---
1.Pre-check and test the products before delivery;2.Deliver the whole plant design for our clients which including infrastructure, electrical system and pipeline system design;3.Trace the status of the shipping until the products received;4.Prepare required documents to let clients pass custom clearance;5.Dispatch experts to carry out below service on site: 1) Installation & debug of the machinery 2) Train the first-line operators & technical personnel 3) Carry out any other service clients may need6. Provide technical exchanging & spare parts for life-long term--- ONE STOP SOLUTION ---
1.Starting by running the mineral beneficiation experiment. To provide our clients with the best solution accordingly;2.Besides supply the flowchart design & equipment, we also provide the infrastructure design; Electrical & pipeline system design, etc. To help our clients complete the design of the whole plant;3.After the installation, debugging of the equipment, the official production will also be guiding by our experienced engineers on site, to guarantee the output minerals perfectly meet your demands.FAQ
With site preparation just getting underway for an open-pit mine, Argonaut Gold is already talking about a major mine expansion, after finding high-grade mineralization below and beside the proposed pit
In a recent webcast to investors, Dan Symons, Argonaut's vice-president of corporate development and investor relations, said Magino's mine life could more than double as they begin planning to become a 300,000-ounce-a-year producer based on what they're seeing in the exploration program
Producing 150,000 ounces of gold a year is "meaningful" for a mid-tier gold producer the size of Argonaut, he said. Boosting that to 300,000 ounces a year is "very meaningful for anybody in this industry."
Magino was a former underground mine of the same name, developed after the First World War. The mine project is 10 kilometres southeast of Dubreuilville on 2,200 hectares. When operational in 2023, the mine is expected to provide employment for 350
Heading into this year and 2022, the company will be looking at expansion studies to analyze the economics of expanding up from a 10,000-tonne-per-day processing operation to 20,000 tonnes per day, as they consider their underground mining options
When Argonaut pours its first gold bars from Magino during the first half of 2023, Symons said, they'll have enough data to formulate a better picture of the scale of their operation and how they'll start accessing the high-grade mineralization underground
If a gold mine was a hockey team, the forwards would be production, piling up ounces like goals on a scoreboard. The costs per ounce are like defencemen: solid, predictable, hardworking but rarely getting the glory. While production numbers usually drive the share prices of mining companies, it’s cost control that keeps the company in the game with positive earnings
Mining costs rose steadily through the 2000s which should have hurt a lot of gold miners. But it didn’t. In 2001 when the gold price was just $272/oz, gold mining companies had cash costs of $176 an ounce, giving a 54% margin. However, by 2006 the gold price climbed into the $600 an ounce range and miners were losing money. Fast forward to 2012, when the average cash cost was $719/oz – 184% higher than 2006
Working with the World Gold Council, senior gold companies came up with a new standard to measure costs: all-in sustaining costs (AISC). AISC includes not only the direct costs to mine gold (machinery, processing, power, labor, etc.), but G&A expenses, exploration, reclamation and sustaining capital. It does not include project capital, dividends, taxes and interest payments
Even so, AISC considerably tightened gold companies’ margins. Of the seven large gold firms, the average AISC in 2012 was $1,046 an ounce, but the gold price was sitting at a very healthy $1,675 at the start of 2013 – yielding an average margin of 60%. However, 2013 was also the year the gold price slid to $1,233 – a drop of over $400. At this point gold miners entered a period of pain; many sold assets, cut staff and took billion-dollar write-offs on properties as their stock prices plummeted
The point is, costs matter. And they’ve continued to go up. According to New York-based CPM Group, margins have squeezed as all-in sustaining costs have grown 22% since the gold price bottomed in 2016
Production numbers from gold mines are meaningless if costs aren’t given. Investors need to understand some of the factors that go into gold mining costs, so they are able to ask the right questions and break down these costs, in order to dive deeper into the total AISC that is usually given. These include: depth of deposit; strip ratio; open pit vs underground; labor; infrastructure; and recovery method
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