A gold mine value19 Jan 2021 07:22
One of the most vital considerations in any discussion of mining’s importance is the simple fact that mining represents the generation of new wealth. This concept is easy to understand when we contemplate the fact that mineral deposits remain out of sight, making no economic or social contributions of any sort until they are dis-covered. Once a prospector obtains clues that a recoverable ore body may exist, it is easy to follow what might be regarded as a normal development path from initial discovery through to successful production.
Once exploration capital is found, initial development work begins, followed by intensive drilling, then after a positive production decision we would see mine construction and, ultimately, production of the metal itself on an economically sound basis. Each of these steps involves the hiring of geologists, office staff, construction personnel, assayers, equipment dealers, drillers, lawyers and accountants, etc. In each case, the monies paid out in wages and equipment purchases results in direct benefits to the general economic community and also results in government taxation revenues which support social welfare programs.
Perhaps of even greater importance, as the metals themselves are sold into world markets, that action brings in huge increments of new wealth, thus providing returns for investors, mine owners, mine workers and others – and that new wealth finds its way not just into the nation’s economic structure but into its fundamental development as well.