Gold mining

Australian gold mine

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.

Gold mining

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. Click here for more information on our products and services...