Toi Gold Mine

It is important to know where gold comes from and the sacrafices that history has made for us in order to obtain this precious mineral. The Toi Gold Mine in Japan, was a mine that made signinficiant discoveries in gold and precious minerals. The Toi Gold mine was the second most productive gold mine in Japan, and it produced a grand total of 40 tons of gold in addition to 400 tons of silver.

Mining at Toi was said to have begun around 1370. Along with the Toi mine, 60 other mines dominated the Tokugawa region, however the Toi mine was consistently one of the most successful. The mine was closed in 1965 but has since been reopened as a museum and popular tourist attraction.

The largest manufactured gold bar is hosted in the Toi Mine Museum.

The Bar weighs in 250 kg (about 550 pounds) and represents a value of 7 million dollars.

Source: http://www.toikinzan.com/03_ougon/index.html

Current Gold Prices Result in Mining in Panama...

It was announced this week, by Reuters, that a Panama City gold mine is due to begin production in the near future…..

Petaquilla Minerals Ltd, a Vancouver mining company, is projected to begin gold mining in Panama within the next few weeks. The company has announced that it expects to mine over 100,000 ounces of gold by the beginning of 2010, maintaining those levels until at least 2015.

As rising gold prices have begun to offer cash and stability to liquidity-challenged citizens around the world, this newest gold source should not come as a surprise. However, environmental concerns and complaints have delayed production since January 2008, but Petaquilla has been given permission by the Panamanian government to proceed with mining.

This will be the first major gold mining site in the country of Panama. Because current gold prices should continue to increase, the Panamanian government is now entertaining other proposals. Panama has a history, like many other Latin American countries, of being mineral-rich, but the environmental concerns related to the tropical climate are very relevant to citizens and those that have relocated to the country.

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Nevada Gold Mining Up With Prices

The Las Vegas Review-Journal has reported that the state of Nevada is cashing in on all-time high gold prices. As investors are flocking to gold and the economy remains uncertain, Nevada is seeing soaring profits.

The number two export industry for the state of Nevada is gold mining. Since 2002, the industry has surged with prices soaring far beyond the $300 an ounce price at the time. The taxes paid by the mining industry to the state of Nevada have also soared -- to almost $200 million a year, which is very nearly double from 2004.

Facts about Nevada Gold Mining include:

• Nevada gold mining creates more export dollars than any other business sector, excluding casinos.
• Nevada Division of Minerals reports that the value of mineral production is worth $5.4 billion.
• Nevada is the fourth largest producer of gold in the world.
• Nevada mining employment accounts for almost 15,000 jobs in the state. The average salary is around $80,000.

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One-Man Gold Mine

The LA Times’ Peter King wrote a story this week about Perry Cottingham, a one-man gold mine operation that has operated for the past thirty years.

A former stock car racer, Cottingham owns his gold mining operation in the Sierra mountains, outside Sacramento and near Fresno. He headed to the hills after purchasing a metal detector in the 70s, and finding $22,000 with it. After that, he headed to the hills and bought a property with an old gold mine on it. Cottingham’s family had a history of gold mining, and he went to work immediately.

Cottingham has sold “a substantial amount” of his gold throughout the last year. He has sold most of the gold from $910-$1,000 an ounce over the last year’s rise. He continues to pay attention to the daily gold prices as they again hover at the $1,000 mark.

"…Gold is always worth something," he said. "You can never go wrong with it. You just have to be willing to wait for the price to go up before you sell it off. What they call this catastrophe actually has been good for gold and oil and commodities."
Perry Cottingham, L.A. Times article by Peter King

Mining has apparently turned up over $13 million in gold in California in the past year.

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Michael Phelps: Gold, Gold, Gold!

He’s doing it!!!

The gold mine called Michael Phelps picked up his sixth gold medal of the 2008 Beijing Olympics last night – along with another world record. It his 12th career gold medal.

Phelps is truly amazing – having competed twice within a half an hour yesterday. He now has a break – 18 hours before his next gold contention.

All of Phelps’ gold medals have been accompanied by world records as well. We’ll be watching this weekend to see whether more gold is in Phelps’ future.

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Gold Fields ordered to halt Kloof mine operations

Gold mining by Gold Fields was ordered to be halted Gold Fields at the Kloof mine by the Department of Minerals and Energy. The cease was ordered after two gold miners lost their lives just as the gold mining operation reached a staggering 1 million fatality free shifts. The Department of Minerals and Energy halted activity at the rest of Kloof to carry out remedial work in working places before it reports back to the mine inspector who could lift the order Friday. Two workers lost their lives around 02:17am Thursday when ground fell in shaft four as they were cleaning in a stope about 3,000m below the ground. Gold Fields spokesperson Andrew Davidson said the fatalities at Kloof's four shaft took place just after the company reached one million fatality free shifts at the gold mine yesterday and was a tragedy. He also said shaft four would probably not be back in production Friday as work here has been delayed by the inspection and no blasting took place Thursday, while the resumption of production at the rest of Kloof would depend on the inspector's order. He said the rest of the mine did carry out blasting work this morning. Gold Fields confirmed its operations have undergone the presidential safety audit that was launched in the country. Its results are yet to be released. The company is continuing its independent audit of all operations to establish if all mining areas are safe for work. Gold Fields estimated it lost 20kg of gold Thursday from the shaft.Do your own gold prospecting in the comfort of your own home! Gather your broken gold, unwanted gold scrap and gold coins and send them to us. We will pay you top dollar for your unwanted gold.

Burkina Faso opens third gold mine

Burkina Faso has opened its third gold mine in a year. Operated by Toronto-listed SEMAFO the Mana gold mining facility is open cast. The mana gold mine was inaugurated on June 30 and is located approximately 170 miles from Ouagadougou. The new gold mine is expected to mine 3.6 tonnes of gold each year according to local mining officials.
"Exploitation of the Mana mine will bolster the state's budget by an average of 15.5 billion CFA francs ($37.3 million) per year, in mine royalties and taxes, to which dividends will be added," Mines, Quarries and Energy Minister Abdoulaye Abdoulkader Cisse told reporters.
SEMAFO's exploration of the Mana mine in 1998 discovered gold reserves estimated at some 35 tonnes. The new mine has already produced 400 kilos of gold since March 31. More recent prospecting totals have discovered that the gold reserves could actually be as high as 100 tonnes of gold.
Within the last year, Burkina Faso has started up two other gold mines. The Taparko-Bouroum, majority owned by Canadian-listed High River Gold Mines Ltd. and Youga, operated by Toronto-listed Etruscan Resources Inc. In October the government announced that the country plannedd to produce 15-20 tonnes of gold a year by 2009. new gold mines will be brought on line between now and then to achieve the projected gold production. A new gold mine should open in Kalsaka in October, while a zinc mine at Perkoa is set to open at the end of next year.
Industrial gold mining started in Burkina Faso in the 1950s. Although some artisanal panning continued, the last commercial mine closed in 1999 after gold prices sank below $300. Both gold mines and gold prospectors have come back to the area recently drawn by enhanced tax breaks and rising world gold prices.
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Old mines now hold the prospect of danger.

The 1848 discovery of gold put "The Golden State" on the map. The legacy of the gold rush however, is not so shiny and glamorous. More than 47,000 abandoned mines burrow into the Sierra foothills. Officials are concerner that the old mines have tunnels and shafts posing dangers ranging from bad air, contaminated water and rotting timbers to rats, rattlesnakes and bats. The job of closing off the most dangerous of these old gold mines could continue on for decades.

With gold prices soaring the danger increases as recreational prospectors attempt to find their fortune in the dangerous gold mines. "Every day, people come in and ask us: 'Where can I find the gold and get rich?'" said Gregg Wilkerson, senior mining geologist in the Bakersfield office of the federal Bureau of Land Management.

The renewed interest in gold can be attributed to the price, now approaching $900 an ounce which is almost double what it was just a few years ago.

In the past year sales of mining equipment has tripled hinging on the growing belief that the once recreational prospectors can make big money. Big money can usually only be made by professional gold mining. Involving experts and an array of safety regulations. They're most concerned about novices who may venture into long-dormant mines.

About two-thirds of California's abandoned mines exist on public property.

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Digging under way at gold mine in north central Washington

The excitement is building at the Buckhorn Mountain gold mine in North Central Washington State! In a few weeks, if all goes according to careful planning, the gold miners there will hit gold ore. This site contains nearly one billion dollars of gold according to the Kinross Gold Corporation of Toronto. The company plans to spend the next eight years digging and mining for gold after a long twenty years of ground work. Kinross Gold Corporation has spent most of the last two decades in planning and dealing with legal fights from environmentalists.

The start of production this fall will instate Buckhorn Mountain Project as the only operating gold mine in Washington State. It will also be a gold mine for the surrounding community as the gold mine and gold processing mill will open up 160 permanent jobs in addition to the 30 contract jobs the construction with bring. Miners will make from $18 to $25 an hour, plus an $8 to $12 an hour production bonus. Mill workers earn from $16 to $26 an hour.

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Company wants to reopen mine

Mining company Emgold, wants to reopen a Grass Valley gold mine (http://www.signonsandiego.com/news/state/20080428-9999-1n28gold.html). A sign at Empire Mine State Historic Park in Grass Valley shows the rising price of gold.

Emgold wants to take advantage of the skyrocketing price of gold and plans to use a unique process that reduces waste. They have used the old mining maps and records that it found in the basement of a former mine owner and used software to produce a digital record of the Idaho-Maryland Mine’s 72 miles of tunnels.

Similar efforts are under way to revive old mines throughout the West. New methods of mining make it easier to extract gold. So many gold deposits were mined long before more efficient gold mining techniques were developed. That means there could be lots of gold left in those hills.
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