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‘Invisible’ gold, worth $24 billion, discovered in Johannesburg’s mine dumps!
In a surprising development, a massive amount of invisible gold has been uncovered, reportedly worth $24 billion in Johannesburg. Steve Chingwaru, the researcher, who is behind this discovery, originally conceived an idea to understand this matter as a master’s thesis, and later got upgraded to a PhD due to its remarkable findings. He discovered the presence of approximately 420 tonnes of ‘invisible gold,’ valued at $24 billion, concealed within the mine dumps of the Witwatersrand Basin in Johannesburg.
The mine dumps, referred to as tailings, are remnants of Johannesburg's famed gold deposits dating back to 1886. Despite continuous extraction endeavors, prevailing methods can only retrieve approximately 30 percent of the gold, leaving a substantial 70 percent untouched.
He explains, "They were already extracting the gold from these tailings, but they were only managing to get out 30 percent of the gold they contained. I wanted to know what was happening to the other 70 percent ... Where was it sitting? Why weren’t they getting it out? Seventy percent is a lot."
As per a report, Chingwaru’s findings indicated that the bulk of the gold was hidden within pyrite, commonly known as ‘fool's gold.’ Present extraction methods employing cyanide fail to detect this gold entirely. Drawing similarities to the Carlin mine in Nevada as an illustration, Chingwaru explains that the extraction of gold from pyrite is already a known process, albeit one yet to be implemented in South Africa's tailings.
The significance of Chingwaru's revelation is immense, yet it brings forth considerable hurdles. “His findings indicate a substantial amount of gold. However, the pivotal question remains whether we possess the technological capability to extract all the gold economically and generate profits,” remarks Associate Professor Megan Becker from the University of Cape Town.
If reports are to go by, despite the hurdles posed by technical and economic factors, South African mining companies are showing keen interest. Senior figures in the gold industry have reached out to Chingwaru, expressing confidence that despite the associated high costs, extraction could yield profitability given stable gold prices.
Chingwaru's efforts have not only earned him recognition but also hold promise for the health benefits of Johannesburg's residents. The reprocessing of the Witwatersrand tailings has the potential to alleviate the environmental and health repercussions caused by the lingering orange dust that pervades the air.
The mine dumps, referred to as tailings, are remnants of Johannesburg's famed gold deposits dating back to 1886. Despite continuous extraction endeavors, prevailing methods can only retrieve approximately 30 percent of the gold, leaving a substantial 70 percent untouched.
He explains, "They were already extracting the gold from these tailings, but they were only managing to get out 30 percent of the gold they contained. I wanted to know what was happening to the other 70 percent ... Where was it sitting? Why weren’t they getting it out? Seventy percent is a lot."
As per a report, Chingwaru’s findings indicated that the bulk of the gold was hidden within pyrite, commonly known as ‘fool's gold.’ Present extraction methods employing cyanide fail to detect this gold entirely. Drawing similarities to the Carlin mine in Nevada as an illustration, Chingwaru explains that the extraction of gold from pyrite is already a known process, albeit one yet to be implemented in South Africa's tailings.
The significance of Chingwaru's revelation is immense, yet it brings forth considerable hurdles. “His findings indicate a substantial amount of gold. However, the pivotal question remains whether we possess the technological capability to extract all the gold economically and generate profits,” remarks Associate Professor Megan Becker from the University of Cape Town.
If reports are to go by, despite the hurdles posed by technical and economic factors, South African mining companies are showing keen interest. Senior figures in the gold industry have reached out to Chingwaru, expressing confidence that despite the associated high costs, extraction could yield profitability given stable gold prices.
Chingwaru's efforts have not only earned him recognition but also hold promise for the health benefits of Johannesburg's residents. The reprocessing of the Witwatersrand tailings has the potential to alleviate the environmental and health repercussions caused by the lingering orange dust that pervades the air.
Source: Times Of India
