Gold is the most wanted and also the most precious metal. The most important use of gold is in Jewelry sector (roughly 50 percent of new gold ingestion) but it’s used in different sectors such as dentistry and electronics too. Together with the inset of international downturn and weakening of monies, the investors are turning into gold instead secure investment to conserve their wealth. This has led to an increase in demand for gold and has caused the record cost of gold in $1904/ounce at August 2011.
China is the world’s biggest producer of gold and produced 345 heaps of gold in 2010. It’s anticipating about a 10% increase in 2011 and is anticipated to increase it to 400 tons in following 3 years. Other Significant gold producing nations are Australia, U.S.A, South Africa, Russia, Peru, Indonesia and Canada. Gold production in Australia, Peru, Indonesia and Canada is decreasing and has decreased by nearly 80 percent in South Africa in past 40 years. Overall it’s predicted the gold production will collapse unless new resources are found. Recently, Filminera Resources was granted planning permission for a goldmine. The mine is expected to produce around 20,000 oz of high grade solid gold and 80,000 ounces of premium grade silver.
But, there’s been a best concern over gold mining. Gold mining was cited as the most rigorous and the most environmentally toxic mining procedure. Modern mining methods can be particularly bad for the environment because of the substances and equipment used in the procedure. Gold mining may lead to pollution of drinking water, air pollution, and sulfur contamination, destruction of pristine environment together with long term economic problems and health problems such as long term ailments and respiratory problems. In addition, the temptation of finding gold has led to illegal mining in which young kids are used to carry out the poisonous occupation. Recently there have been worries over mining in Colombia which may harm the environmental system which hosts an assortment of flora and fauna and is now a home to a number of the endangered species and across the Pebble mine intended for the headwaters of Bristol Bay in Alaska which could ruin some of their most productive salmon habitat on earth and damage the communities which rely on such a poultry for food and tasks.
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