Gold bullion may be great for your investments, but sadly it can be devastating to the environment. The gold mining industry is known for being wasteful and damaging and Bullion Trading LLC would like to bring attention to this. It requires twenty tons of mine waste to manufacture a single gold ring. Furthermore, as the demand for gold goes up, miners are turning to open-pit mining rather than underground mine shafts, as they are less expensive. In fact, two-thirds of all newly mined gold are derived from these sources. However, open-pit mines are far more harmful to the surrounding environment and produce ten times more waste. That makes thirty tons of mine waste for every ounce of gold manufactured. This is detrimental to not only to the wildlife but also the indigenous communities, who may be forced off by this corporate greed.
This doesn’t even take into consideration the actual process of acquiring the ore. Miners use explosives to remove large amounts of rock and materials. The ore is then processed for gold, which will amount to a small fraction in comparison to the total mass. The process of extraction used is called heap leaching and involves crushing the ore before irrigating it with cyanide. This bond with the gold to form a compound solution, which is collected and pumped into a mill and chemically separated. These “leach cycles” for each mineral can take several months. The contaminated ore is simply discarded in the mine, and is usually covered with a dam as a protection of its hazard risk. Yet these dams are rapidly-constructed and many have failed in the past twenty-five years. Three-quarters of all major mining accidents are a result of such failures. The result of one of these dams breaking is the spilling of hundreds of thousands of gallons of cyanide-covered waste and the subsequent contaminations of entire water supplies. Local wildlife has died by the thousands!
It’s important to remember that gold is more than just a precious metal and valuable commodity: it’s a recyclable resource and part of the planet. Our procedure of attaining it must be responsible. Fortunately, the advent of “green gold” has come to prominence. Our supply at Bullion Trading LLC is recycled and purchased only from resellers. We do not deal with refiners or mining companies.
We have always required any secondary refinery to provide full disclosure of their metal sources in writing. The value of green gold is still the same, and it makes use of the Earth’s existing metal supply.
It really is heartbreaking to think that the majority of all the gold that is mined goes into producing more jewelry rather than fulfilling its useful purposes such as conducting heat and electricity. Just think of the abundance of gold out there that sits untouched, standing in banks and vaults, existing for the sole purpose of being symbols of wealth, and all the while, mining companies move full speed ahead producing two thousand and five hundred more tons a year. The goal of “going green” is to make use of all the gold that is already above ground, which alone is enough to satisfy the demands of the jewelry industry for the next fifty years!
As both a bullion dealer and a jeweler, this is a topic I care very deeply about, and pride myself on knowing the business practices of those I deal with. I offer my clients the option of making their dream purchase and still being environmentally friendly. When visiting a dealer, you should ask how each piece of gold bullion was acquired and whether it is freshly-mined or recycled. If he does business with mining companies who use wasteful tactics, we encourage you to find another dealer with environmental practices and to purchase green gold. This way you can make a difference, and will be helping to preserve the Earth’s natural resources and protect both wildlife and human rights.