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How does admiring gold jewelry appear? The shimmering color of gold is comparatively more attractive than any other natural element. For hundreds of decades, gold has been associated with the emotions of humans. Not only because of its appearance, but it also has numerous desirable physical and chemical properties which make it a choice to be used in the electronics and industrial sector.
Gold Mining in Ontario
The demand for gold will increase with the enhancement in technology and innovation. Gold has plenty of qualities like high conductivity, resistivity, high melting and boiling point, strength, durability, density, etc., which raises its value. If you see the modern picture of the gold market, you will observe evolving diversity and growth. Since 1970, the production of gold increased at a great pace leading to the flourishing of the market worldwide.
Production of Gold in Canada
Various countries like China, the USA, Russia, South Africa, Canada, and others significantly make investments in mineral production, which contribute to the nation’s GDP. Talking about Canada, the country has one of the largest mining industries in the world. The country is producing over 60 metals and minerals. One of the precious metals produced in Canada is gold. The element was first discovered in Canada in 1823 along the shores of Rivière Chaudière in the Eastern Townships of Quebec. In 2019, the country’s gold production was estimated at 175 tons which was a 70% increase compared to the production in 2010. Ontario and Quebec were responsible for over 75% of gold produced in that year. You will find several companies which are involved in the acquisition, exploration, and development of minerals. Trillium Gold is one of those companies which is exploring and developing precious metal assets in Ontario. Trillium Gold Mines and Barrick Gold are growth-focused gold mining companies that are quite helpful in economic sustainability globally.
Top Mines In Ontario
Ontario, a province in Canada, is majorly responsible for the enhancement in gold production in the consecutive year 2020. Read further to know about the operating gold mines in Ontario.
Coleman Mine
Location – Sudbury, Ontario
Mine type – Underground
The mining method involves mechanized, post pillar, or underhand cut and fill and blast hole stop. Coleman mine is owned by Vale S.A. and produces multiple commodities including gold, nickel, cobalt, platinum, palladium, and copper. It began operations in 1970.
Creighton Mine
Location – Sudbury, Ontario
Mine type – Underground
The mining method involves blast hole stopping, upper retreat mining, and mechanized cut and fills mining method. The owner of the mine is Vales S.A. The mine produces commodities including gold, nickel, copper, cobalt, platinum, and palladium. It started production in 1901.
In The End
People across the globe have different reasons for buying gold as they are culturally, emotionally, and physically attached to it. Gold is one of the highest value commodities produced in Canada. Ontario and Quebec are the two provinces of Canada that significantly contribute to the total gold production of the country.