None of the minerals collected from the Earth are more valuable than gold. Its use stems from a variety of unique features. Gold conducts electricity, does not tarnish, is extremely easy to work, can be pulled into wire, hammered into thin sheets, alloys with many other metals, can be melted and cast into highly intricate designs, and has a beautiful hue and sheen.
For thousands of years, gold has been used to create decorative artifacts and jewelry. Gold nuggets discovered in a stream are extremely easy to deal with and were most likely one of the earliest metals used by humans. The majority of newly mined or recycled gold is now used in jewelry production.
Gold’s unique qualities make it ideal for jewelry production. These characteristics include a high shine, an attractive yellow hue, tarnish resistance, and the ability to be pulled into wires, hammered into sheets, or cast into forms. These are all characteristics of an appealing metal that can be readily turned into beautiful items. Tradition is another key reason that necessitates the usage of gold as a jewelry metal.
2. Coinage, Bullion, Backing
Gold is an ideal material for coinage and backing of paper currency. The high value of gold makes it easier to transport, store, and measure than other valuable commodities, such as silver. A coin made of gold is easily recognizable and has an important psychological effect even if it is not accepted as money. Throughout history, gold coins have been used to pay for goods and services and to send as gifts. Gold can be easily melted down, so bullion for jewelry, barter, and backing currency can be easily obtained.
Much of the gold produced is used to manufacture electrical wires and contacts. Its high electrical conductivity, corrosion resistance, and low contact resistance make it a popular material to use in electrical contacts.
Gold is also used in dentistry, as both in fillings and tooth caps. Gold is preferable to other metals because it is more resistant to decay. Gold is also resistant to staining, and does not react to the acid in the mouth. Gold is also non-toxic, so it is safe to handle.
Gold is essential in the aerospace business, where reliable and effective technologies are critical to survival. Gold is used to lubricate different mechanical parts, conduct electricity, and cover the inside of spaceships to shield passengers from infrared radiation and heat.
The Future of Responsible Gold Mining
When done responsibly, gold mining and its related activities may positively impact socioeconomic development in gold-producing countries. When gold is produced following strong social, environmental, and safety standards, it creates job opportunities, improves infrastructure, and generates tax revenue. It can also produce foreign exchange and stimulate foreign direct investment.
Maximizing mining’s development potential necessitates ongoing attention and discussion. Transparency is essential, both in operational operations and in the economics of gold mining.
Respect for local societies and human rights is very important for ethical gold mining enterprises. Many businesses run their own social responsibility programs in addition to adhering to international norms such as the Voluntary Principles on Security and Human Rights.
Janet Sheriff is one of the few women in mining, pushing for better practices in the field. As one of the known female mining CEOs, she aims to help others find their niche and step up in every industry they enter through her extensive experience and skills. Together, let’s bring a progressive and mindful approach to mining. Read more of her goals through her website today.