The gold industry is transforming in the United States and all around the world. From showrooms to the mines themselves, the gold industry produces greater asset quantities and evolving to use more efficient electric power and highly technical refining techniques that are protecting our collective environment. Gold is a precious commodity for several important reasons, and it’s not hard to see why.
Gold’s journey begins underground.
Likely brought to the Earth in the caustic death of nearby stars during its early formation, gold is a wonderfully bizarre metal. It’s a dense element that rests within the crust and is stirred in the aftermath of earthquakes, the passing of asteroids, and other terrestrial occurrences that disturb the element and separate it from the surrounding rock ground materials.
These natural events push gold into riverbeds and other features of the landscape. Collected for millennia, gold is intricately interwoven with human history itself.
Modern mines make use of the latest technologies.
Mining firms like Alamos Gold (AGI or Alamos Gold Inc.) utilize the latest in environmentally friendly extraction processes to boost output while maintaining a great relationship with the landscape itself. Alamos is an industry leader in both types of research regarding suitable mine sites and in the extraction process itself. Hard rock mining has become the primary focus of the industry, but far too often in the past, mining outlets have resorted to harsh chemicals or drilling practices that disregard the land’s needs. The hunt for the shiny metal beneath the surface was the only prize.
Alamos Gold and others in the industry are shaking that mantra up. Turning the industry on its head is a process that’s been a long time coming, but the changes are welcome amongst environmental activists and the general public alike. At mines in the United States and beyond, Alamos Gold has committed to sufficient and sustainable measures that promote fantastic environmentalism in the process of finding and extracting this key ingredient in so many of the products that we all use daily.
Perhaps one of the most important innovations that Alamos has expanded is the use of sub station transformers to create a closed circuit power system within each mine location: for instance, in the Mulatos Mine in Mexico or the Young-Davidson and Island Gold Mines in Northern Ontario, which each account for hundreds of thousands of ounces of gold added to the marketplace each year.
Creating closed-circuit power grids within each mine location is the best way to prevent power surges or outages while drawing a current from the national grid. Mining is an energy-intensive operation, and the safety of each team member depends upon a reliable power source and a knowledgeable crew working throughout each shift.
The market is varied and exciting.
Many consumers think about gold products in the gaudy jewelry that people often flaunt. The engagement rings or wedding bands that people wear are often made of high-quality gold, so it’s easy to assume that this is the primary use case for a metal that’s actually quite brittle. However, gold’s most important use is possible in high-end technical equipment. There isn’t anything else on this Earth that conducts electricity quite like gold.
It’s not a strong metal that can be used as a weapon or shielding in battle, but it can transmit signals and data packets formidably. In the digital age where the pen is indeed mightier than the sword, gold takes its place as an essential component in creating the computing power that can send humanity to the Moon or accurately time an Olympic 100-meter race.
The gold industry is wide-ranging and exciting. Taking the time to understand this commodity and its path from soil to end-user is a fascinating learning experience.