How Gold is Extracted?
Gold comes from gold mines and is found many meters below the surface of our earth. Miners find gold in its natural form, that is, in vein deposits or lode deposits. These are concentrations of gold and also other metals that are in the rock.
The process that is used for extracting gold is blasting and drilling rocks. The plans are laid down by the geologists and engineers before the mining and there is a lot of preparation. They determine the precise position of the gold in the rocks and the miners can easily extract quantities of gold-laden rock. The ore is then transferred to the mill for extracting the gold inside it. If the survey is done correctly, then, a good gold mine can easily yield around 6.5 g of gold for every 1,000 kg of ore.
Keep in mind that gold ore is not pure and is intertwined with aa lot of other metals including silver. When the ore is taken to the mill, huge chunks of gold ore are crushed and then broken. This is done until it becomes like powder. It is then mixed and ground with a lot of water and cyanide until it becomes a pulp. This then flows into huge settling tanks and the refinement takes place here.
The heavy particles in the mud settle at the bottom and are separated from the liquid content. Air is then bubbled through the mixture and this becomes a catalyst and sets off a chemical reaction. This causes the cyanide to react with the gold which is trapped in the ore, which causes the gold to dissolve into the water.
The solution is extracted and then made to drip into a curved surface of a rotating cylinder. It slides along the surface and leaves behind a trail of the solution that evaporates. A lot more impurities are then removed from the gold with chemical reactions using catalysts and is heated to 1600 degrees Celsius (or 2912 degrees Fahrenheit).
This process then melts gold and other impurities and the process causes the heavy molten impurities to settle at the bottom. The lighter molten gold floats above. The molten gold is extracted and then cooled in the shape of a bar or ingots, that are 80% pure. For refineries which deliver purer gold, the process of smelting is repeated until it reaches a refinement level of 99.5%.
Read More on Gold
Gold as an Investment
- GST on Gold
- Gold And Devaluation
- Gold Price Valuation In India
- Why Is Gold Rate Fluctuating
- Why Investing In Gold Is A Golden Opportunity
- How Gold Rate Fluctuation Affects Indian Economy
- Top 8 Reasons to Invest in Gold
- How Does Gold Investment Affect Indian Economy?
- How Will Restricting Gold Imports in India Affect Gold Rates?
- Top 5 Factors That Affect Gold Rate In India
- Why Gold Prices Are Up
FAQs on How Gold is Extracted?
- Is it safe to buy Gold online?
Yes, it is safe to buy gold online.
- How does a default in gold loan payment affect my credit score?
When you default on the gold loan payment, the delay is reported to the credit bureaus and reduces your credit score.
- Where can I get 24K Gold online?
MMTC-PAMP and SafeGold both will offer gold of 24KT.
- Has the government changed the import duty rate?
Yes, this was dropped to 10% from 12.5% and includes 7.5% customs duty and also a 2.5% agriculture infrastructure and development cess.
- Will the gold be delivered safely?
The gold coin/bar will be delivered in tamper proof packaging.
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