Today it typically takes anywhere from 10 to 20 years before a gold mine is ready to produce ore extracts that can be refined into gold doré bars and eventually .999 fine gold bullion.
Gold Mine Exploration:
To search for undiscovered gold deposits requires large amounts of time, capital, and expertise in various disciplines (i.e. geology, geography, engineering, and chemistry). The chance is very low from a successful gold discovery leading to a gold mine’s full development. It is estimate only about one out of ten of global gold deposit discoveries contain enough of a gold deposit grade and size to mine profitably. Once the geology and ore body of a potential gold deposit is modeled its feasibility can be better assessed for profitability.
Preparing gold mines involves complex planning and construction of a gold mine project. Regardless of the nation, gold mining companies typically must obtain suitable permits and local licenses before construction can begin. Subsequent to various factors like location, regulations, and ore body processing needs the development process typically take many years. Construction may also not be confined only to the gold mine in development. Frequently gold miners construct local infrastructure and services to help a gold mine’s logistical and operational needs.
Gold Mine Operation:
This is the actual physical extraction of hopefully rich gold ore from the newly developed gold mine. Unrefined rock extracted from the gold mine requires further processing at a refinery in order to fully recover the potential gold deposit (and other valuable minerals such as copper, silver, etc.). Gold mining companies must ensure high health and safety standards including minimizing environmental impacts of the gold mine’s overall operation and legacy.
Gold Mine Shut Down & Rehabilitation:
Shutting down and closing a gold mine is a complex affair. Responsible gold mining companies are typically required to monitor and upkeep the closing gold mine site to ensure that the rehabilitation of the land is successful. The process can be lengthy and costly after the gold deposits have been extracted from the ground.
Luckily for US based gold investors today, acquiring physical bonafide gold bullion is today less challenging than exploring, developing, operating, decommissioning, and rehabilitating a gold mine site.
You can even skip the refining process and go straight to simply buying fully insured, discreetly delivered gold bullion bars and coins from us with a few clicks of your mouse.