Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
China’s Ministry of Industry and Information Technology (MIIT) is drafting new standards for the gold industry which will raise the entry barriers, and companies with daily gold processing capacity of less than 50 tons will have to exit the industry, the Shanghai Securities News said on Tuesday.
Local governments, Reuters reports, have already received the order to shut small gold miners down. The industry ministry is planning to go further, by closing mines with a daily gold processing capacity of below 100 tonnes and halting approvals for small ore processing companies.
In addition, large gold miners will be encouraged to expand overseas in order to increase resource supplies.
China, the world’s largest bullion producer, currently has no limits on gold production and production is determined by the gold producers, adds the report.
The record-high prices over the past two years has encouraged miners to boost gold output at all costs, including dubious practices that have heavily polluted rivers and soil and, according to Reuters, caused cancer-related deaths to soar in some areas.
4 Comments
Michael2011416
China, the world’s largest bullion producer, but there are heavily polluted rivers and soil.
Therefor, it should be reasonable exploitation of natural resources and mining is efficient, reduce environmental pollution.
Gold in the rock ore are very low, in order to extract gold, the ore must be processed by gold mining equipment for sale. In this process, many gold mining equipment are used. You can refer http://www.quartz-crusher.com/ore-crusher/gold-ore-crusher.html
82514970
In fact, any country that wants to extract gold from the wall rock will pollute the environment not only China.
Goldankauf
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Industri porte
Gold mining is composed with the processes and techniques employed in getting rid of gold from the ground. There are various methods via which gold may be extracted in the earth. . Gold can be a treasured steel mined to develop practical and ornamental … To separate the gold in the gold ore collected inside the mine tunnel, the ore was initially crushed by quite a few gold ore crushers, such as tiny jaw crusher employed in planning samples for assaying.