Because milling gold ore is an energy-intensive process, lower energy prices help to reduce operating costs.
Since 2007 Galantas Gold Corporation, a Canadian firm, has been working what is currently Britain's only gold-producing mine at Omagh, in Northern Ireland, shipping the ore to Canada and running a small gold-jewellery operation.
ECONOMIST: The high price of gold is encouraging miners to dream
People survive either from agriculture or from small-scale mining of gold or colombo-tantalite, an ore used in mobile phones that makes its way to the outside world through Uganda or Rwanda.
Out there in the desolate, lunar like desert of northern Chile is a mineral-rich ore called caliche -- once known as white gold.
They want to provide a series of incentives to mine owners and firms which make gold as a by-product of smelting copper ore.
Some growth has been companies processing lower-grade ore that may not have been feasible at lower gold prices, analysts said.
FORBES: Global Output From Gold Mines In Upswing Although Some Constraints Persist
What about the Bre-X scandal of 1997--when promises of a mountain of gold in Borneo turned out to be a few ore samples salted with gold dust?
The Marlin mine produced quarterly record output of 95, 000 ounces of gold and 2, 291, 100 ounces of silver in the July-September period, fueled by higher ore grades and tons of ore milled.
FORBES: Goldcorp CEO Sees Higher 4Q Gold Output; Company Soon To Be Major Silver Producer
Revenue hit a record high even though gold-mining output was down from the year-ago quarter due to factors such as mine sequencing and lower ore grades in certain mines.
Mining companies are running into a situation similar to 2007-2008 when a wide range of producers such as gold, copper, coal and iron ore are all trying to develop projects simultaneously, Tankard pointed out.
FORBES: Global Output From Gold Mines In Upswing Although Some Constraints Persist
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