Gold and Silver – Page 158 – Republic of Mining

The Return of Gold Fever – by Roger Lemoyne (The Walrus – January 12, 2011)

September 8, 2017

One of Canada’s pre-eminent photojournalists explores one of man’s oldest obsessions in the heart of the Brazilian Amazon

We’ve all heard tales of the men who followed the lure of gold into harsh wilderness, turning over the land with brute force, often finding little more than the community of fellow dreamers. Legendary gold rushes took place in California, Victoria, and the Klondike in the second half of the nineteenth century, right around the time the camera was invented.

But while portrait photography caught on quickly in cities, hauling giant glass plates into the bush was next to impossible, so the gold rush phenomenon went almost completely undocumented visually. Not until the advent of hand-held cameras like the Leica could photographers portray stories unfolding in remote locations—which is exactly what Sebastião Salgado did when the Serra Pelada gold rush broke out deep in the Brazilian Amazon, circa 1980.

When I was starting out in photography, Salgado was king. He had taken the “concerned photographer” mission global, producing massive books on broad social themes, with an unprecedented combination of artistry and salesmanship. His Serra Pelada—black and white shots of some 80,000 mud-caked miners—was an account of epic, almost biblical human undertaking.

Gold, greed and garimpeiros: Corruption allegations roil failed venture at Brazil’s most notorious mine – by Matt Sandy (Al Jazeera America – July 21, 2015)

September 7, 2017

http://projects.aljazeera.com/

Standing on the steps of her pale blue wooden shack overlooking one of the world’s most notorious gold mines, Maria Rita Ferreira Rodrigues was so incensed she could not stop shouting.

The 58-year-old said she had lived in this house in Serra Pelada for 28 years, since it was a gold-rush town of violence, greed and intrigue amid the vestiges of the rain forest. But she had never seen anything like this.

“They humiliated us and treated us with contempt,” she said in February of the Canadian energy company Colossus Minerals, which spent $300 million over the past eight years trying to reopen the mine. “Everyone powerful here was bought by Colossus. There was not one judge, police chief or prosecutor on our side.”

The hell of Serra Pelada mines, 1980s (Rare Historical Photos – February 24, 2016)

September 7, 2017

Serra Pelada, Brazil – Sebastião Salgado Wiki Photo

http://rarehistoricalphotos.com/

Serra Pelada was a large gold mine in Brazil 430 kilometres (270 mi) south of the mouth of the Amazon River. In 1979 a local child swimming on the banks of a local river found a 6 grams (0.21 oz) nugget of gold. Soon word leaked out and by the end of the week a gold rush had started. During the early 1980s, tens of thousands of prospectors flocked to the Serra Pelada site, which at its peak was said to be not only the largest open-air gold mine in the world, but also the most violent.

At first the only way to get to the remote site was by plane or foot. Miners would often pay exorbitant prices to have taxis drive them from the nearest town to the end of a dirt track; from there, they would walk the remaining distance—some 15 kilometers (9.3 mi) to the site.

Huge nuggets were quickly discovered, the biggest weighing nearly 6.8 kilograms (15 lb), $108,000 at the 1980 market price ( now $ 310,173 in 2016). During the peak of the gold rush the mine was known for appalling conditions and violence, whilst the town that grew up beside it was notorious for both murder and prostitution.

Indonesia and Freeport end their squabble over Papua mine – by Erwida Maulia and Wataru Suzuki (Nikkei Asian Review – September 7, 2017)

September 7, 2017

https://asia.nikkei.com/

JAKARTA The chief executive of U.S. mining company Freeport-McMoRan and two Indonesian ministers publicly declared on Aug. 29 an end to an acrimonious dispute over a giant copper mine in Papua that has raged for months.

The deal is seen as a testament to Indonesian President Joko Widodo’s resolve to balance foreign investment with national interests. CEO Richard Adkerson told a press conference that Freeport has agreed to relinquish a majority stake in its subsidiary, Freeport Indonesia, to local interests in exchange for extending the Papua mining contract by 20 years to 2041.

Dressed in a traditional batik shirt, Adkerson cut a very different figure to his last public appearance in Jakarta in February, when he wore a black suit and threatened the government with arbitration.

Bitcoin’s Golden Future – by David Fickling (Bloomberg News – September 5, 2017)

September 7, 2017

https://www.bloomberg.com/gadfly/

Could bitcoin be the next gold?The idea has a lot of intuitive appeal. Gold bugs and bitcoin fetishists tend to share a deep distrust of fiat currency and the nation state, an impregnable bullishness about their favored asset class, and an obsessive attention to details of market movements combined with a blithe disinterest in bigger-picture issues.

The idea has become particularly popular as the value invested in bitcoin and other cryptocurrencies has marched upward over the past year. Even after this week’s selloff, prompted by China declaring initial coin offerings illegal, the value of all cryptocurrencies in circulation is around $155 billion, according to Coinmarketcap.com.

That may sound small compared to the $7.8 trillion notional value of the world’s 187,200 metric tons of gold. At the same time, it’s already about a tenth the value of the 40,000 tons of yellow metal used for investment as bullion bars and coins, and has overtaken the amount held in gold exchange-traded funds.

Heading into public hearing, Nunavut, Agnico Eagle disagree over caribou – by Jane George (Nunatsiaq News – September 5, 2017)

September 6, 2017

http://www.nunatsiaqonline.ca/

Final NIRB hearing into Whale Tail gold mine project starts Sept. 19 in Baker Lake

Parties planning to attend the upcoming public session on Agnico Eagle Ltd.‘s Whale Tail gold mine project near Baker Lake have plenty to read and think about between now and the public hearing set for between Sept. 19 and Sept. 22 in Baker Lake before the Nunavut Impact Review Board.

That’s because the mining company submitted a 208-page document to the NIRB Aug. 28, responding to multiple opinions expressed by stakeholders. This document contains detailed responses to comments that the NIRB received from such groups as the Baker Lake Hunters and Trappers Organization, Inuit organizations and the Government of Nunavut about Agnico Eagle’s Whale Tail project.

Despite the heavy use of acronyms and diplomatic jargon like “values” and “appreciates” in the document, it’s likely that big, unresolved issues around caribou will be among topics discussed in Baker Lake. Much of the discussion on caribou in Agnico Eagle’s response is heavily technical.

[Barrick Dominican Republic – Pueblo Viejo Mine] Local hiring program changing lives: (Barrick Beyond Borders – August 27, 2017)

September 6, 2017

(Video: I am Barrick Pueblo Viejo)

http://barrickbeyondborders.com/

Poverty is the hard reality for many people in the communities surrounding the Pueblo Viejo mine in the Dominican Republic

Isidro Felix and Bladimir Morillo did not have high expectations when they heard Barrick had acquired a majority interest in the Pueblo Viejo mine. Felix, who is from the town of El Maricao, just three miles from Pueblo Viejo in the Dominican Republic’s Sanchez Ramirez province, sums up the prevailing view in his community at the time.

“Barrick will come, bring people from other countries to work at the mine, and forget about us.”

Morillo, who hails from El Naranjo, just two miles from the mine, says his community had similar sentiments. Today, however, 11 years after Barrick acquired its interest in Pueblo Viejo and 5 years after the mine entered production, perceptions have changed.

Mine Tales: Gold helped Arizona gain territory status – by William Ascarza (Arizona Daily Star November 2, 2014)

September 6, 2017

http://tucson.com/

Prized among civilization for more than 5,000 years, gold’s role as a precious metal influences world commerce and stimulates exploration. Its symbol, AU, represents the Latin word for gold: aurum.

Gold, the most malleable and ductile of metals, is also resistant to chemical attack and is highly reflective. One ounce of gold can be flattened to cover in excess of 150 square feet. Although widely distributed, it occurs in small amounts in less than one seven thousandth of an ounce (0.004g) per ton in the Earth’s crust.

An excellent conductor of electricity and heat, it has been used as a medium of exchange and is invaluable for industrial uses including metal alloys, computer circuitry, solders and jewelry. It was highly sought after by early European explorers including Francisco Vasquez de Coronado’s attempt to discover the Seven Cities of Cibola in 1540, and continues to play a critical role in Arizona’s mining history.

First female general manager at Kalgoorlie Super Pit promises to shake up status quo – by Bettina Arrow , Sam Tomlin and Jarrod Lucas (Australian Broadcasting Corporation – September 6, 2017)

September 6, 2017

http://www.abc.net.au/

The first woman to run Kalgoorlie’s iconic Super Pit has promised to shake up the status quo at Western Australia’s most famous gold mine. Cecile Thaxter officially began as general manager at Kalgoorlie Consolidated Gold Mines on Monday, taking charge of more than 1,100 workers and millions of dollars in gold reserves.

Born in Jamaica and educated at Columbia University in New York, Ms Thaxter worked in investment banking prior to shifting into mining, where she worked in various executive roles for Super Pit co-owner Newmont Mining. As mining companies continue to push for greater female representation in senior roles, she said she was delighted by the accomplishment.

“Not necessarily for the first [woman], but for the second, third and others that come along.” Having most recently managed Newmont’s Phoenix/Lone Tree mine in Nevada, Ms Thaxter comes to Kalgoorlie-Boulder at an interesting juncture in the mine’s life.

Gold price surges to 2017 high as North Korea World War 3 risk looms over markets – by Lana Clements (Express – September 5, 2017)

September 5, 2017

http://www.express.co.uk/

THE price of gold has surged to its highest levels in around a year as the threat of North Korea sparking war hangs over markets.

The precious metal hit $1,340 with prices not seen seen since last September. The US said North Korea’s latest ballistic missile test showed the rogue state was “begging for war”, sending a chill across global markets. Stocks showed signs of recovery on Tuesday, but traditional safe havens, such as gold, have maintained value.

Investors typically put cash in the previous metal during times of political and market trouble. Fiona Cincotta from City Index said: “Gold continues to trade around its highest level for almost a year at $1340.

“Putting this into context, the last time gold traded at these levels was when news of President Trump’s victory shook the markets. “Safe haven currencies the Japanese Yen and the Swiss Franc both also continue to be in demand.

Romanian Unesco site proposal may be halted to allow gold mining – by Kit Gillet (The Guardian – August 31, 2017)

September 5, 2017

https://www.theguardian.com/

Romania’s prime minister has suggested his government will withdraw an application to have the Roman gold-mining area of Roșia Montană declared a Unesco world heritage site, potentially reviving controversial plans to resume mining.

Roșia Montană sits on Europe’s largest-known gold deposits – an estimated 314 tonnes of gold as well as 1,500 tonnes of silver – and has been at the centre of a drawn-out fight between the Canadian mining company Gabriel Resources and Romanian activists.

To extract the gold, the mining project would involve the heavy use of cyanide, turning a nearby valley into a tailings dam holding up to 250m tonnes of cyanide-laced waste. It would also destroy four mountain peaks, nearby villages, and a series of 2,000-year-old Roman mining tunnels. Three weeks of mass protests in 2013 in effect halted the mine’s development, with the government withdrawing its support in 2014.

COLORADO LEGENDS: Ghosts of the Cripple Creek Mining District (Legends of America)

September 5, 2017

http://www.legendsofamerica.com/

In the high country beyond Pike’s Peak is the Cripple Creek Mining District, dotted with historic mine shafts, head frames, and tumbling down miners’ cabins. Not only might a visitor find a “taste” of gold fever in this historic district, but may also experience their hair rising on the back of their necks as they “bump” into one of the many ghosts that reportedly roam the area.

Like many other mining towns of the Old West, Cripple Creek is said to be extremely haunted. Given its rich history, complete with mining accidents, floods, fires, lawlessness, and bloody battles between mine owners and labor unions, it comes as no surprise to learn of the many ghosts who continue to linger in this once thriving city. In fact, there are so many tales of spirits wandering this historic town, that at one time boasted one homicide per day, some say it is the one of the most haunted cities in the United States.

The Fairley Brothers and Lampman Building at 300 East Bennett Avenue now houses the Colorado Grande Casino and Maggie’s Restaurant. Here, you may not only enjoy a little gaming and some great food, but you might just get a glimpse of a ghost as well.

[South Dakota Gold Mining History] New Homestake trail retraces the past – by Tom Griffith (Rapid City Journal – August 31, 2017)

August 31, 2017

http://rapidcityjournal.com/

LEAD | Listen long enough as winds comb through the boughs of towering pines and you’ll hear the century-old whispers of steam-fired trains chugging through the forest to service the fabled Homestake Gold Mine.

Now, more than 100 years after hundreds of faceless miners scraped and blasted a rail bed through the remotest regions of the Black Hills, hikers and mountain bikers have the opportunity to retrace the route of a narrow-gauge railroad that brought needed supplies from Deadwood to its sister city of Lead and the Homestake Mine.

The new three-mile Homestake Railroad Grade Trail returns to life a major transportation portal that traces its origins to 1890, when the Fremont, Elkhorn and Missouri Valley Railroad constructed the line to haul myriad supplies to the burgeoning gold camp of Lead.

Indonesia cheers Freeport ‘win’ as Grasberg valuation fight looms – by Fergus Jensen and Cindy Silviana (Reuters U.S. – August 30, 2017)

August 31, 2017

https://www.reuters.com/

JAKARTA (Reuters) – Indonesia’s government left no doubts as to who it believes got the better deal in its landmark agreement with Freeport McMoRan Inc on the future of the Grasberg copper mine.

After Freeport agreed to divest a 51 percent stake in Grasberg, the world’s second-biggest copper mine, Indonesia’s Energy and Finance Ministries posted on social media #FreeportTaatIndonesiaBerdaulat, or “Freeport is obedient, Indonesia is a sovereign state”.

The bombastic statement illustrates Indonesia’s view that the dispute with Freeport over the mine was all about asserting the country’s rights to its mineral resources. While Indonesia can point to a victory that appeals to nationalist sentiment, pinning down the details on the divestment indicates a further fight with Freeport.

The gilded South: OceanaGold writes the latest chapter in the long history of South Carolina’s Haile mine – by Ryan Bergen (CIM Magazine – August 25, 2017)

August 31, 2017

http://magazine.cim.org/en/

Located a few minutes from the small town of Kershaw, South Carolina, Haile has the distinction of being the only gold mine in the United States east of the Mississippi River. More to the point, unlike many new operations it is, if traffic cooperates, just an hour and a half from both an international airport and a domestic hub for air cargo.

It also has the advantage of a deep labour pool nearby and easy access to power and roads, which helped OceanaGold build the 6,300- tonnes-per-day operation for an estimated US$400 million.

Past to present

Gold was first discovered in the area in the 1820s by tenants clearing the land owned by Benjamin Haile. The first placer operations evolved to include a stamp mill, and the gold extracted helped fund the losing Confederate effort in the American Civil War. Legendary Union General William Sherman made a point of destroying Haile’s mine facilities as he and his troops returned north and operations only resumed in the 1880s when New York investors brought it back into production.