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positive factors of gold mining

the advantages of mining gold | our pastimes

the advantages of mining gold | our pastimes

Positive economic development is one of the primary advantages for mining gold in contemporary times. Gold mining is a sector of trade and business that governments use to improve their nation's economic systems.

Foreign Direct Investment (FDI) occurs when one country participates in another nations development. Developing countries' FDIs increase when gold mining is used to create factories and by increasing mineral exports.

The World Gold Council states that governments can tax the mining operations that produce gold. Gold mining can be advantageous for developing countries that have a limited tax base by generating extra revenue.

According to BullionVault.com, gold mining operations can be advantageous as investments because the value of the shares is related to the price of gold and gold mining stocks are valued though the lifetime of the mine.

According to the World Gold Council, developing countries accounted for 72 percent of the global output of gold. Many economically challenged nations that possess gold can use this element to improve their nation's infrastructure, employment opportunities and various sectors of society.

Steven Miller earned his associate degree in the field of education and is currently continuing his education at Ohio Dominican University. A freelance writer since 2010, Miller enjoys gaining valuable experience and growing as a writer.

how gold has a positive impact on the local community

how gold has a positive impact on the local community

In just about every industry, community relations play an important role. Companies must foster a positive relationship in the regions where they operate for either company or communityto thrive. In the gold mining industry, this is especially true since the impact of gold mining on the physical environment is so prevalent. In a recent report by Gold.org, the study stated that the community may not have any regulatory control over the gold mining company, but if a company contributes to the welfare of the environment and its people, the results are generally very positive.

If you are considering an investment in gold or planning to buy precious metals, you may be interested in learning a little more about how gold mining can have a positive impact on surrounding communities.

In fact, Gold.org says that gold mining companies have contributed to the well-being of the community and have provided significant resources to address social issues in a way that traditional aid donors often cannot. In addition, the gold mining industry has become quite adept at fostering community relations and engagement strategies and methodologies developed by the sector are becoming recognized beyond the mining sector as good practice standards.

In cases where gold mining companies have held little regard for the community, protests, negative social media posts and other troubles have materialized and in some cases the mines have even been shut down for periods of time.

However, despite the threats of negative publicity and angry residents, the bigger issue lies in the overall condition of the gold mining company and the gold mining industry in general. Since a gold mine can last for up to 30 or 40 years, addressing the needs of its workers and their dependents can only help to ensure a more productive labor force. It is no secret that a happy workforce is a more productive one, as well as one that can aid in yielding bigger revenues. Academic studies have found that conflicts between communities and mining companies can cost a company up to US$20m per week, as a result of delays to production.

Over the past few decades, upon realizing the benefit of a healthy and happy workforce and community, mining companies have contributed greatly to the welfare of many regions in the form of aid to education, healthcare and infrastructure.

The Gold.org report says that a study of 26 gold mines owned by 19 publicly traded companies between 1993 and 2008 found that around two thirds of the estimated value of the gold controlled by these companies was related to the companies management of external relationships with host communities and governments.

More so than many other industries, mining has a direct impact on the environment of the communities within the vicinity of the mine site. Whilst local communities may not often have formal regulatory control over mining companies, building and maintaining good relationships with local communities that enable operations to proceed with their permission often referred to as the social license to operate is a critical business issue for mining companies. The mining industry has been focused on this area for many years, with many community engagement strategies and methodologies developed by the sector, such as ICMMs Community Engagement Toolkit, becoming recognized beyond the mining sector as good practice standards. Nevertheless, community relations remain a critical area for the mining sector; the social license to operate was the third highest risk on EYs 2014 business risks survey for mining and metals. The value of a mining companys assets below ground can only be realized if the social and political environment above ground enables production.

There is good reason for community relations to be considered a critical business issue. Academic studies on conflicts between communities and mining companies have identified several instances where project delays as a result of conflicts with local communities cost the projects around US$20m per week as a result of delays to production. A study of 26 gold mines owned by 19 publicly traded companies between 1993 and 2008 found that around two thirds of the estimated value of the gold controlled by these companies was related to the companies management of external relationships with host communities and governments.

Conflicts between mining companies and local communities can result in operations being disrupted by protests, employees being intimidated, damage to property and even violence; all of which can be further complicated by local politics. Modern communications technology and social media mean that groups with grievances against companies can leverage support and gain profile very quickly and far more effectively than in the past. Of course the need to build and maintain good community relations is just one of many factors driving the need for careful management of the socio-economic and environmental impacts of mining operations. In response, companies have evolved relatively sophisticated and broad corporate responsibility programs, covering issues such as governance and ethics, employment, occupational health and safety, community and environment. Multiple mining-specific and cross-sectoral industry forums and voluntary performance standards have developed, such as the Mining, Minerals and Sustainable Development Project (which led to the creation of ICMM), the EITI, the World Economic Forums Responsible Mineral Development Initiative, the Natural Resource Charter, the United Nations Guiding Principles on Business and Human Rights, the Voluntary Principles on Security and Human Rights, the OECD Guidelines for Multinational Enterprises and the World Gold Councils Conflict-Free Gold Standard, amongst others.

Community investment projects can often be supported by a sound financial business case which can enable companies to mobilize significant resources to address social issues in a way that traditional aid donors often cannot.

Healthcare is a significant focus area for gold mining companies, particularly HIV/AIDS, tuberculosis and malaria. In a significant number of gold producing countries, the growth of the gold mining industry over a ten-year period coincides with a reduction in the prevalence of these diseases.

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environmental impacts of gold mining | brilliant earth

environmental impacts of gold mining | brilliant earth

Dirty gold mining has ravaged landscapes, contaminated water supplies, and contributed to the destruction of vital ecosystems. Cyanide, mercury, and other toxic substances are regularly released into the environment due to dirty gold mining.

Modern industrial gold mining destroys landscapes and creates huge amountsof toxic waste. Due to the use of dirty practices such as open pit mining and cyanide heap leaching, mining companies generate about 20 tons of toxic waste for every 0.333-ounce gold ring. The waste, usually a gray liquid sludge, is laden with deadly cyanide and toxic heavy metals.

Many gold mines dump their toxic waste directly into natural water bodies. The Lihir gold mine in Papua New Guinea dumps over 5 million tons of toxic waste into the Pacific Ocean each year, destroying corals and other ocean life. Companies mining for gold and other metals in total dump at least 180 million tons of toxic waste into rivers, lakes, and oceans each yearmore than 1.5 times the waste that U.S. cities send to landfills on a yearly basis.

To limit the environmental damage, mines often construct dams and place the toxic waste inside. But these dams do not necessarily prevent contamination of the surrounding environment. Toxic waste can easily seep into soil and groundwater, or be released in catastrophic spills. At the worlds estimated 3,500 dams built to hold mine waste, one or two major spills occur every year.

Toxic waste spills have had devastating consequences in Romania, China, Ghana, Russia, Peru, South Africa, and other countries. In 2014, a dam collapsed at the Mount Polley gold and copper mine in British Columbia, sending about 25 million cubic meters of cyanide-laden waste into nearby rivers and lakesenough to fill about 9,800 Olympic-sized swimming pools. The spill poisoned water supplies, killed fish, and harmed local tourism.

Dirty gold mining often leads to a persistent problem known as acid mine drainage. The problem results when underground rock disturbed by mining is newly exposed to air and water. Iron sulfides (often called fools gold) in the rock can react with oxygen to form sulfuric acid. Acidic water draining from mine sites can be 20 to 300 times more concentrated than acid rain, and it is toxic to living organisms.

The dangers increase when this acidic water runs over rocks and strips out other embedded heavy metals. Rivers and streams can become contaminated with metals such as cadmium, arsenic, lead, and iron. Cadmium has been linked to liver disease, while arsenic can cause skin cancer and tumors. Lead poisoning can cause learning disabilities and impaired development in children. Iron is less dangerous, although it gives rivers and streams a slimy orange coating and the smell of rotten eggs.

Once acid mine drainage starts, it is difficult to stop. Acidic waters flowing from abandoned mines can raise acidity levels and destroy aquatic life for generations. Roman mining sites in England are still causing acid mine drainage more than 2000 years later.

The use of mercury in gold mining is causing a global health and environmental crisis. Mercury, a liquid metal, is used in artisanal and small-scale gold mining to extract gold from rock and sediment. Unfortunately, mercury is a toxic substance that wreaks havoc on miners health, not to mention the health of the planet.

For every gram of gold produced, artisanal gold miners release about two grams of mercury into the environment. Together, the worlds 10 to 15 million artisanal gold miners release about 1000 tons of mercury into the environment each year, or 35 percent of man-made mercury pollution. Artisanal gold mining is actually among the leading causes of global mercury pollution, ahead of coal-fired power plants.

When mercury enters the atmosphere or reaches rivers, lakes, and oceans, it can travel across great distances. About 70 percent of the mercury deposited in the United States is from international sources. Still more mercury reaches the United States through imported fish. Once it reaches a resting place, mercury is not easily removed. Sediments on the floor of San Francisco Bay remain contaminatedwith mercury left by the California gold rush of the 19th century.

Mercury is extremely harmful to human health. The amount of vapor released by mining activities has been proven to damage the kidneys, liver, brain, heart, lungs, colon, and immune system. Chronic exposure to mercury may result in fatigue, weight loss, tremors, and shifts in behavior. In children and developing fetuses, mercury can impair neurological development.

A gold mining boom is accelerating the destruction of the Amazon rainforest, a biologically diverse ecosystem that acts as a check on global warming. Artisanal, or small-scale, gold miners are tearing down the forest to access the rich gold deposits beneath. One study found that deforestation rates in the Madre de Dios region of the Peruvian Amazon have increased six-fold due to gold mining.

Gold mining is also responsible for releasing large amounts of mercury into the Amazons air and water. The mercury is poisoning plants, animals, fish, and people. In one city in the Peruvian Amazon, unsafe mercury levels were recorded in 80 percent of local residents. The gold mining boom does not bode well for the Amazon or the people, both locally and globally, who depend on it.

the effects of mining to communities: the good and the ugly tumi resources

the effects of mining to communities: the good and the ugly tumi resources

Mining is a lucrative business. It promises big profit margins for mining companies while providing employment opportunities for its employees. However, it cannot be all good. There is still bound to be an ugly side to mining that most people dont know about.

Of course, there are visible benefits of mining activities to communities, including more jobs and increased spending for families located in these communities.Economic activity can also takeoff because of mining activities.

Most mining communities are located in remote, far-flung areas most businesses usually wont dare invest in. These communities have a low-income profile and limited access to healthcare, education, and other basic needs. Moreover, people living in these communities are often engaged in agricultural jobs. Mining provides people in these communities another choice for making a living. Suddenly, there are more jobs available for the non-disabled men in the city.

Miners immediate families will benefit from increased budget allotted for household needs. Children will be able to study in schools. Families are now able to buy necessary home appliances and electronic gadgets. During weekends, families have increasedspending powerto go to town and eat in restaurants.

Large-scale mining can fully exhaust a sites natural resources. Miners often have to use equipment to dig deep into the soil. It takes years to get the topsoil and vegetation back to its original state. However, if mining companies neglect to remove all kinds of waste and restore the site properly, communities around the mining area are put at risk.

In this age ofclimate change, no one is exempt from feeling its effects. Because most mines are located near mountaintops, improperly reclaimed mines can help cause landslides in the area. This factor will directly affect surrounding mining communities. Many lives may be in danger.

Before the mining operations can start, existing communities in the mining sitehave to be relocated. This setup can be problematic for these existing communities. They may have called that place as their home for decades. But because of the request of mining companies, theyhave to relocate so suddenly. This sudden relocation may escalate into conflict if not adequately resolved.

Miners often work in harsh conditions for days, and their workstations are mostly underground. Workers endure the workload, sometimes without proper safety gear to be able to provide for their families.

Mining activities bring with it both positive and negative effects on its surrounding communities. For its positive impact, miners employed by mining corporations now have a regular source of income.

Their families are now able to enjoy a higher standard of living they couldnt previously gain access to. Miners children now have the opportunity to go to formal schooling and get themselves out of poverty. Moreover, economic activity in mining communities may drastically spike up due to the increased spending power of families.

On the other hand, it is also worthy to note that there is also an ugly side to mining and its effects on the community. Mining communities are exposed to increasing environmental degradation. Due to climate change, surrounding communities are put at risk of death. Lush forests have to be cut down to accommodate mining activities.

To mitigate the adverse effects of mining on communities, both mining companies, as well as governments, have to be proactive inrestoring closed mines. Finally, both parties have to be vigilant in protecting open mines from further destroying the environment.

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