Why would someone close a producing gold..29 Jan 2023 10:53
The gold mine was closed down not because there was no more gold. The reason it was closed down was that to produce the gold, dig it out, was costing more than they could get for the gold. Whereas now the economics have significantly altered because the gold price has risen 6 fold but the cost of mining has risen to a lesser extent owing to technological advances. It is rare that a mine is closed because the ore is no longer there, its all about the costs of production. JJ