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Gold Mining Is One Of The World's Dirtiest Industries

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http://news.bbc.co.uk/1/hi/world/4760707.stm

Gold mining 'hits' poor countries

Gold mining carries social and environmental costs for many developing countries, a British aid agency has warned in a new campaign.

Cafod says most gold mining takes place in developing states, where it pollutes water, displaces poor communities and damages traditional livelihoods.

The warning comes amid rising costs of gold, most of which goes for jewellery.

Cafod wants mining companies and jewellery retailers to sign a set of standards so gold is mined responsibly.

But some aid agencies such as Oxfam support the sale of gold reserves to finance debt relief.

A report last year by the World Gold Council found that the industry brought "substantial improvement" in social and financial infrastructure.

Most mining companies tried to take on local workers and source supplies locally, while royalty and tax revenues from the business contributed to government coffers, the WGC said.

'Dirty' industry

Buyers should be made more aware of the impact of a taste for gold, Cafod - a Roman Catholic charity - said in a report published on Wednesday.

"Gold mining is one of the world's dirtiest industries," the report said.

"Gold is a symbol of wealth and power," but "for many developing countries, the discovery... has led to little but poverty and hardship," it said.

Mining can generate revenue and create jobs, but it can also "cause lasting damage to communities and to the environment", Cafod argued.

Gold mining has also been closely linked to conflict, the charity noted - "whether as a result of fighting over the control of precious natural resources or divisions within communities affected by mining".

Toxic process

About three-quarters of the world's known gold has already been mined, and Cafod argues there will be costs for those living above the remaining quarter.

After moving the people, open-cast gold mining involves pouring cyanide solutions onto large areas of countryside. It draws gold out of the rocks but also brings out toxic substances including arsenic.

The process uses huge quantities of water and can contaminate the water table for other users.

In poor countries like Honduras and Central America or Congo in Central Africa, Cafod says local people who live on the land have been moved out and poisoned by polluted water from the mines.

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Guest wrongmove

Similar article in the Guardian: http://www.guardian.co.uk/australia/story/0,,1771428,00.html

"...But is it worth all the lives lost in extracting it? "Gold mining is a completely pointless exercise," he says. "People dig it, refine it and bury it in another hole in the ground. It is never consumed, you can never destroy it - all the gold that's ever been mined still exists. And it's very energy-intensive - the yield is seven grammes per tonne. A lot of effort goes into it just so that it can be buried again."..."

So that is over 4 tonnes of planet earth to yield 1 troy ounce of gold. And then we bury it again in a bank vault somewhere. :blink: I'm sure humanity has better things to do, but there you are.

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I agree. Let's ban all gold mining right now! :rolleyes:

:rolleyes: right back!

I posted this as a reminder that investing in gold brings with it some ethical questions.

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:rolleyes: right back!

I posted this as a reminder that investing in gold brings with it some ethical questions.

So does owning two houses, but most BTLers or second home owners don't give two tosses

about their own countrymen/women.

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:rolleyes: right back!

I posted this as a reminder that investing in gold brings with it some ethical questions.

Indeed. Investing in mining is very unethical. However so is using oil powered transport, not only are you supporting dodgy regimes, contributing to political tensions in the middle east, but you are contributing to climate change and ruining the world for your grandchildren.

Of cause that doesn't make it right, but it's good to get these things into perspective.

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Guest wrongmove

Indeed. Investing in mining is very unethical. However so is using oil powered transport, not only are you supporting dodgy regimes, contributing to political tensions in the middle east, but you are contributing to climate change and ruining the world for your grandchildren.

Of cause that doesn't make it right, but it's good to get these things into perspective.

What you say is of course true, but what use is gold ? We obtain benefit from transport, but stashing gold in a vault somewhere as a speculative punt seems totally pointless.

That said, the point of this thread, as I understood it, was just to point out the implications of gold fever.

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I'd be very sceptical that gold mining is really all that bad relative to many other types of mining - including oil extracted to put in ridiculously inefficient cars that people use for many journeys that could be done by public transport, walking or cycling.

As we pursue a wasteful, indulgent lifestyle, pretty much any mining that supports it may be criticised as being frivilous.

Gold is I think undervalued by "advanced" societies. It will come into its own as a reliable currency once people wake up to how the present paper system has been allowed to slide into disrepute by weak management and political subservience to the debt culture.

While I am sceptical that a formal gold standard will come back, I wonder if we will not see the greater take-up of privately managed international currencies that compete in the global marketplace on the basis of stability and holding value. These might well be to some extent tied to allocated gold. I think this could be a very interesting development.

Edited by malco

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"OH SOOOOO RISKY,DON'T EVEN GO THERE...STICK WITH COLIN+JUSTIN" says BBC!!! :lol::lol::lol::lol::lol:

....we won't butt-****** you!!!!.....honest!

.......PROPERTY 5% P.A price increase.

commodities(jpmf nat resources +140%)

gold > 50% after exchange adjustment

silver +90% etc etc.

read it and weep property pornstars!!!.......you make a living out of getting shafted!!!!

Edited by oracle

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Guest Riser

More spin on the 10 O'Clock news.

Started well pointing out that old 2p pieces were now worth 3p as scrap due to their copper content, and its not just copper but all metals although no specific mention of gold.

The BBC reporter claimed that the massive rise in commodity prices was due to, wait for it, "the world economy being so strong it is generating huge demand for industrial metals", no mention of devalueing fiat currency, no mention of money moving out of the dollar and looking for a safe home in commodities. The main message from the report was that commodities prices were likely to see a big correction soon.

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Spin, spin, spin.

Understandable. Having run out of supplies to suppress it, the powers that be have lost control of the price of gold and must now discredit gold to the public in any possible way, to prevent further demand from developing.

Too late. Too many are now discovering the dirty secret. It will snowball from here.

Protect yourselves.

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:rolleyes: right back!

I posted this as a reminder that investing in gold brings with it some ethical questions.

Every married couple on earth (or at least in cultures where gold bands are used as a symbol of marriage) are guilty of supporting this dirty trade then.

IIRC the vast majority of gold produced (and EVER produced) has gone into jewellery production. Only something like 16% (again, IIRC) of all gold ever produced is held by private investors.

I take your point and am not criticising you for bringing it up, but there's another side to this other side of the story!

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Guest wrongmove

The point is to act as unprintable money - to allow honest exchange, free trade and a productive economy. It can be done without gold, as fiat shows. The outcome, which is basically the exploitation of the third world by the fiat money printers, is probably far worse than the effects of gold mining a thousandfold.

Before paper money, the developed countries used to exploit the third world for their gold. The South American civilisations were totally wiped out by gold hungry Spanish, for example. I don't think that is a fiat problem, just a human problem. If we switched back to gold, do you think gold rich, arms poor countries would feel safe ?

Good luck to holders of gold - especially cgnao - balls of....gold ! But it cannot be denied that gold mining is a filthy industry. The mine yields are just a few grammes a tonne, and will drop further as the price makes even lower yields profitable. Yes, some other industries are dirty too, but that is like saying Pol Pot is ok, because he killed less people than Hitler !

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Guest wrongmove

Now third world countries are farming, mining, shipping real valuable goods including gold, all in exchange for pieces of paper. We laugh about the indians selling Manhattan for grain, or natives giving up land and rights for shiny beads. The same deceptive trick is going on. The victims don't understand the scale of the con.

Hi Durch. We are getting off topic now, but don't those developing countries also buy goods and services they cannot produce at home in exchange for those same worthless bits of paper ?

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Guest wrongmove

wrobgmove, if everyone tried to use their paper at once, do you think all the paper would be honoured?

If everyone tried to sell their gold at once, do you think the price would hold up ?

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Got emailed this today:

In the Valle de San Felix, the purest water in Chile runs from 2 rivers, fed by 2 glaciers.

Water is a most precious resource, and wars will be fought for it.

Indigenous farmers use the water, there is no unemployment, and they provide the second largest source of income for the area.

Under the glaciers has been found a huge deposit of gold, silver and other minerals. To get at these, it would be necessary to break, to destroy the glaciers - something never conceived of in the history of the world - and to make 2 huge holes, each as big as a whole mountain, one for extraction and one for the mine's rubbish tip.

The project is called PASCUA LAMA. The company is called Barrick Gold.

The operation is planned by a multi-national company, one of whose members is George Bush Senior.

The Chilean Government has approved the project to start this year, 2006.

The only reason it hasn't started yet is because the farmers have got a temporary stay of execution.

If they destroy the glaciers, they will not just destroy the source of especially pure water, but they will permanently contaminate the 2 rivers so they will never again be fit for human or animal consumption because of the use of cyanide and sulphuric acid in the extraction process.

Every last gram of gold will go abroad to the multinational company and not one will be left with the people whose land it is. They will only be left with the poisoned water and the resulting illnesses.

The farmers have been fighting a long time for their land, but have been forbidden to make a TV appeal by a ban from the Ministry of the Interior.

Their only hope now of putting brakes on this project is to get help from international justice.

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  • 302 Brexit, House prices and Summer 2020

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      • down 5% +
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