Gold mining and Australian exploration companies
Kingsgate Consolidated Limited is an Australian gold mining and
exploration company operating a modern gold mine and developing mineral
resources in Thailand. Kingsgate Consolidated Limited (Kingsgate) is a
highly successful gold mining and exploration company, traded on the
Australian Stock Exchange (KCN: ASX). The company owns and operates the low
cost Chatree gold mine in central Thailand through its wholly-owned
subsidiary, Akara mining limited, using world's best practice for safe,
environmental and socially responsible operations.
The methods of gathering gold changed rapidly as the 'easy pickings'
disappeared. Tools were invented at a rapid rate as miners from all over
sought new and more effective means of mining the ore.
At first miners would divert streams, sending smaller streams off to each
side, leaving stream beds exposed. The dry days of summer and early fall
were best as low water levels exposed stone areas where gold may have been
hiding.MEthods included placer mining, winnowing, crushing quartz or the
cradle. Land ownership became an issue as gold grew scarcer and the
population grew. A miner could claim an area from 10 to 50 square feet as
their own. A piece of personal property signified claim. This claim was
filed with the camp's claim officer. If not worked within a certain amount
of time, it could be claimed by another miner.
Once the earth's surface had been picked clean, miners organized into larger
camps and began digging deeper into the earth. This involved quartz or
hardrock mining, which used hydraulic drills and stamp machines. Hardrock
mining involved sinking shafts, then using drills to create holes where
dynamite could be detonated in. As the hole deepened, bits would be
exchanged for progressively longer and narrower ones. Water was added to the
hole to create a grinding compound and to help remove dirt and debris. Stamp
machines were used to crush large rocks removed from the mines.
By 1858, only those with big machinery could effectively mine the hills.
Individual miners and their small claims were replaced by large companies
that worked large tracts of land, employing scores of men. Many of the
miners moved on to newer diggings.
Australian gold exploration companies
Today the gold industry is well established and instead of hundreds of
gold miners panning for gold in riverbeds, the work is done by huge machines
that sift through mountains of rock, extracting microscopic amounts of the
precious metal. As little as 3 grams per tonne is now considered a payable
amount. After coal, iron ore, and crude petroleum, gold currently ranks
fourth in value of all Australia's merchandise exports.
The amount of gold exported annually from Australia has been running at
around 300 tonnes for the past ten years. In 2004-05, the main destinations
for Australia's gold were India, Thailand, the United Kingdom, the Republic
of Korea, and Singapore. The most recent boom in gold production began in the early 1980s
because of the floating of the gold price in 1971 which led to an increase
in world gold prices; and the application of the carbon-in-pulp and
carbon-in-leach gold ore processing techniques.
Kingsgate's rapidly growing reserve/resource position is fuelled by
exploration within a surrounding gold province which exhibits world class
potential. |
