Tuesday, October 15, 2013

FROM DUST TO BARS: The Complete Story Of How Gold Is Mined And Refined

Gold prices have tumbled since their $1,900 peak in 2011. The yellow metal slumped into a bear market in April, and now prices are just above $1,200.

Investors have warned that the correction in gold prices has meant that miners are producing gold at cost or are losing money.

Last year, CNBC's Bob Pisani traveled to South Africa to show us how gold goes from particles to gold bars.

He followed AngloGold Ashanti's gold mining process from start to finish. Workers there pull up 5000 metric tons of earth per day, which yields as much as 1,700 ounces in gold.

Pisani also visited the Rand Refinery, which has refined nearly a third of the gold mined since 1920.

In light of the recent sell-off in gold, we decided to revisit Pisani's tour of the gold mine and see just how complicated and dangerous the process is.

Note: Simone Foxman wrote the original version of this feature.

This story was originally published by CNBC.


View the original article here

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