Olimpiada Mine

The Olimpiada Mine is located in the Krasnoyarsk Krai region of Russia, in the eastern part of the country. The mine is owned and operated by Polyus, which is the largest gold producer in Russia. Olimpiada utilizes both open-pit and underground mining methods to extract gold. Open-pit mining is typically used for shallow deposits, while underground mining targets deeper ore bodies.

Grasberg Mine

The Grasberg Mine is located in the province of Papua in Indonesia, near Puncak Jaya, the highest mountain in Papua. The mine is owned and operated by Freeport-McMoRan, an American mining company. The Grasberg Mine is known for its significant production of gold and copper. It is one of the world’s largest producers of both metals.

Muruntau Mine

The Muruntau Mine is owned and operated by Navoi Mining & Metallurgy Combinat (NMMC), which is a state-owned company in Uzbekistan. It is located in the Kyzylkum Desert of Uzbekistan, in the Navoiy Region, which is approximately 250 miles west of the capital city, Tashkent. The mine employs conventional open-pit mining methods to extract gold ore from the Muruntau deposit. This involves drilling, blasting, loading, and hauling the ore.

Carlin Mine

The Carlin Mine is located in northeastern Nevada, United States, near the town of Carlin. Ite is part of the Carlin Trend, which was discovered in the early 1960s by geologists exploring for uranium. Gold was discovered in the area, leading to the development of numerous gold mines, including Carlin. The mine is owned and operated by Nevada Gold Mines LLC, a joint venture between Barrick Gold Corporation and Newmont Corporation, two of the world’s largest gold mining companies.

Boddington Mine

Gold was first discovered in the Boddington area in the late 19th century, but modern exploration and development of the mine began in the late 1980s. The Boddington Mine is located in Western Australia, about 80 miles southeast of Perth, the state capital. The Boddington Mine is owned and operated by Newmont Corporation.

Kibali Gold Mine

The Kibali Gold Mine is located in the northeastern part of the Democratic Republic of Congo, near the border with Uganda, about 350 miles northeast of the capital city, Kinshasa. The Kibali deposit was discovered in 2002 by Randgold Resources, which later merged with Barrick Gold Corporation. Exploration and development of the mine began in the mid-2000s. The Kibali Gold Mine is owned and operated by Kibali Goldmines SA, a joint venture between Barrick Gold Corporation, AngloGold Ashanti, and Société Minière de Kilo-Moto (SOKIMO).

Detour Lake Mine

Gold was first discovered in the Detour Lake area in the early 20th century, but modern exploration and development of the mine began in the late 1970s. Production commenced in 2013. The Detour Lake Mine is located in northeastern Ontario, Canada.

Cortez Gold Mine

The Cortez Gold Mine is owned and operated by Nevada Gold Mines LLC, the same joint venture that owns Carlin Gold Mine. The Cortez mine is about 59 miles from the Carlin mine. The Cortez Gold Mine utilizes both open-pit and underground mining methods to extract gold ore from multiple deposits within the Cortez Trend. This involves drilling, blasting, and hauling the ore to processing facilities.

Pueblo Viejo Mine

The Pueblo Viejo Mine is located in the central part of the Dominican Republic, approximately 62 miles northwest of the capital city, Santo Domingo. The Pueblo Viejo Mine is an open-pit operation that utilizes conventional truck and shovel mining methods to extract gold ore from multiple deposits within the Pueblo Viejo gold belt.

Lihir Mine

Gold was first discovered on Lihir Island in 1982 by the Newcrest Exploration Limited team. Development of the mine began in the late 1990s, and production commenced in 1997. The Lihir Mine is located on Lihir Island in the New Ireland Province of Papua New Guinea, in the southwestern Pacific Ocean. The Lihir Mine is owned and operated by Lihir Gold Limited, a subsidiary of Newcrest Mining Limited, an Australian mining company.

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Gold: Witwatersrand Basin, South Africa

The Witwatersrand Basin, located in South Africa, is the world’s largest gold reservoir. Since its discovery in 1886 by an Australian prospector named George Harrison, it has produced over 2 billion ounces of gold. The discovery triggered a significant gold rush, drawing thousands of prospectors to the region.

The Witwatersrand Basin’s vast gold reserves make it exceptional, holding an estimated 40% of all the gold ever mined on Earth. But it’s not just the quantity of gold that’s noteworthy. Gold in this region is found within narrow seams of rock called reefs, deep underground. Mining these reefs is a challenging task, but South African miners have successfully extracted considerable quantities over the years. In addition to gold, the basin is also rich in other minerals, including uranium, silver, and pyrite.

Silver: Fresnillo Mine, Mexico

The Fresnillo Silver Mine in Mexico stands as a remarkable feat in the mining industry. As the world’s largest silver mine, it boasts an estimated reserve of over 2 billion ounces of valuable metal. Situated in Zacatecas, the Fresnillo Silver Mine possesses a rich history dating back to its discovery in the 1500s by Spanish explorers who were quick to identify the region’s potential. The mine has been in continuous operation ever since, producing silver and other metals for centuries.

One of the most notable aspects of the Fresnillo Silver Mine is its immense size, spanning approximately 56 square miles, which places it among the largest mining operations globally. Additionally, the quality of silver extracted from the mine is exceptional. The silver at Fresnillo is located within narrow veins of rock running through the earth, often incredibly rich in silver content, making them a prime target for miners. However, the extraction process is far from simple. Miners navigate an intricate network of tunnels and shafts, employing specialized equipment to separate silver from the rock.

Platinum: Bushveld Complex, South Africa

The Bushveld Complex in South Africa stands as a remarkable accomplishment in the mining industry, particularly for platinum enthusiasts. As the largest platinum-producing region globally, it accounts for over 70% of worldwide production, making it a vital platinum deposit with over 90 years of operation.

Platinum in the Bushveld Complex is located within a geological formation known as the Merensky Reef, which spans hundreds of kilometers. This reef is extraordinarily rich in platinum and mining operations in the Bushveld Complex employ some of the most advanced techniques worldwide, utilizing a combination of underground and open-pit methods to extract the precious metal. These intricate processes require specialized equipment and techniques. Platinum is not the only metal found in the Bushveld Complex. The region also holds reserves of other metals, including palladium, rhodium, and chrome.

Rhodium: Stillwater Complex, Montana, USA

The Stillwater Complex in Montana is a distinct geological formation responsible for some of the world’s most notable rhodium discoveries. As the largest known rhodium deposit globally, it holds estimated reserves of over 700,000 ounces. Rhodium, one of the rarest and most valuable metals, ranks among the most expensive precious metals on Earth.

RELATED: Learn About Rhodium’s Various Applications

Rhodium in the Stillwater Complex is found within a unique geological formation called the J-M Reef, incredibly rich in rhodium and other metals like platinum and palladium. It is the only known location where significant amounts of rhodium are found as a primary mineral.

Mining rhodium in the Stillwater Complex is challenging due to the harsh and unpredictable climate of Montana’s mountains. Miners employ a combination of underground and open-pit techniques here as well.

Palladium: Norilsk-Talnakh, Russia

The Norilsk-Talnakh palladium deposit in Russia stands as an awe-inspiring wonder in the mining realm. As the world’s largest (known) palladium deposit, it contributes to over 40% of global production. Despite its remote and challenging location in the Siberian tundra, the miners have successfully extracted vast amounts of palladium thus far.

Palladium in the Norilsk-Talnakh deposit is found within a geological formation known as the Norilsk-Talnakh intrusion. It also contains other metals like nickel, copper, and platinum.

Mining palladium in this deposit presents numerous challenges due to its location in one of the harshest environments on Earth, characterized by long, cold winters and short, mild summers. Miners must confront extreme weather conditions and difficult terrain.

Have gold, silver, platinum, rhodium, or palladium scrap you wish to sell?

Get in touch with Manhattan Gold & Silver using our online contact form or give us a call at 212-398-1454. Ship your lot or drop it off in person. You can also get an estimate ahead of time using our online payout estimator.

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What are Polymetallic Nodules?

Polymetallic nodules are small, potato-shaped rocks that are found on the ocean floor and are a significant target for undersea mining operations. These nodules are formed over millions of years by chemical reactions between seawater and the minerals that make up the ocean floor.

What are Sulfide Deposits?

Sulfide deposits are another type of valuable mineral deposit that can be found on the ocean floor. These deposits are formed by the action of hydrothermal vents. These vents are openings in the seafloor where hot, mineral-rich water is released from the earth’s mantle. As the hot water mixes with the cold seawater, minerals precipitate out of the water and form sulfide deposits.

Both polymetallic nodules and sulfide deposits can contain a variety of valuable metals, including copper, zinc, lead, gold, and silver. The concentrations of these metals can be quite high in some deposits, making them a lucrative target for mining operations.

The Status of Deep Sea Precious Metal Mining

Currently, deep sea precious metal mining is in its infancy, with only a few companies actively engaged in exploration and development. The high cost and technical complexity of deep sea mining make it a challenging endeavor, but the potential rewards are significant.

Some of the companies currently undertaking deep sea mining include Nautilus Minerals, a Canadian company that has a mining lease for an area in the Bismarck Sea off the coast of Papua New Guinea, and DeepGreen Metals, a company that is exploring an area in the Pacific Ocean known as the Clarion-Clipperton Zone.

Unexplored Areas with Potential

There are several unexplored areas that may be future deep sea mining targets, including the South Atlantic, the Indian Ocean, and the Arctic Ocean. These areas are thought to contain significant deposits of precious metals, but further exploration is needed to confirm their full potential.

Environmental Risk vs. Reward

The impact of deep sea mining on the environment is a topic of much debate. The drilling and extraction process can disrupt marine ecosystems and destroy habitats for deep sea creatures. There are also concerns about the release of toxic chemicals and heavy metals into the water column.

As the industry continues to develop, it is important that everyone involved considers the costs and benefits of these operations and works to minimize their impact on the planet and its inhabitants. Keep an eye on the Manhattan Gold & Silver blog as we continue to cover deep sea mining progress.

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Unique Geological Settings Where Gold Can Be Found

Glacial Deposits

During the last Ice Age, glaciers transported gold-bearing rocks and deposited them in various areas. These deposits are often overlooked because the gold is scattered throughout the sediment, making it difficult to extract. However, some prospectors have had success by panning in glacial streams and rivers in Alaska, Canada, and other regions that were once covered by glaciers.

Desert Drywash

In desert regions, gold can be found in dry stream beds where water once flowed. This type of gold prospecting is called drywashing, and it involves using a drywasher to separate gold from the sand and gravel. The deserts of the southwestern United States and Australia are popular areas for drywashing.

Volcanic Deposits

Gold can also be found in volcanic deposits, which are often overlooked because they are not as well-known as other types of deposits. Volcanic deposits can be found in areas where there has been volcanic activity, such as in the Philippines, Indonesia, and parts of South America.

Seafloor Deposits

There are also gold deposits on the seafloor, which are currently being explored and mined by a few companies. These deposits are found in areas where hydrothermal vents are present, which can produce high concentrations of gold and other metals. Seafloor mining is still in its infancy and is currently being developed in places like the coast of Papua New Guinea and in the Atlantic Ocean off the coast of South Africa.

Surprising Countries and Regions Where Gold Can Be Found

Omai, Guyana

Omai is a gold mine located in the interior of Guyana, a small country in South America. The mine is one of the largest gold producers in the country and has been in operation since 1992.

Kolar Gold Fields, India

Kolar Gold Fields is a gold mining region in the state of Karnataka in southern India. The mines were active from the late 19th century until the mid-20th century, and produced over 900 tons of gold in total.

Pilbara, Australia

The Pilbara region in Western Australia is best known for its vast iron ore deposits, but there are also gold deposits in the region. In recent years, a number of small-scale gold mining operations have started up in the Pilbara.

Lake Victoria Goldfields, Tanzania

The Lake Victoria Goldfields is a region in Tanzania that is home to several large gold mines, including the Bulyanhulu, North Mara, and Geita mines. The region is known for its high-grade gold deposits and has been a major gold producer since the early 2000s.

Yukon Territory, Canada

The Yukon Territory is a sparsely populated region in northern Canada that is known for its rugged wilderness and rich mineral deposits. Gold mining has a long history in the Yukon, and there are still active gold mines in the region today.

Sado Island, Japan

Sado Island is an island in the Sea of Japan that has a long history of gold mining. The island was a major source of gold during the Edo period in Japan, and there are still active gold mines on the island today.

Chukotka, Russia

Chukotka is a remote region in northeastern Russia that is home to several large gold mines. The region is known for its harsh climate and difficult operating conditions, but it is also one of the most important gold-producing regions in Russia

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Muruntau Mine

Location: Qizilqum Desert, Uzbekistan

Estimated Annual Production: 2 million ounces

The Muruntau gold mine is currently the largest open-pit gold mine in the world, measuring a whopping 3.5 by 2.5km on the surface and extending as far as 600m deep.

Not only is the mine itself the largest, but it is also believed to sit on top of the world’s most vast gold deposit. Scientists believe this location has so much gold due to a “perfect storm” of geological events that occurred over millions of years. These events included fluctuations in fault lines, the rise of mountains, and even the demise of an ocean that once existed in what’s now the Qizilqum desert. The mine is currently estimated to yield roughly 2 million of ounces of gold per year.

Carlin Trend

Location: Nevada, United States

Estimated Annual Production: 1.6 million ounces

The Carlin Trend isn’t just one gold mine, but rather a string of both open-pit and underground mines that extend along a stretch of Nevada’s landscape roughly 60km long and 8km wide. Gold was first discovered here in the 1870s, but in very small quantities. During the 1960s, the Newmont Mining Corporation discovered a large deposit and significant exploratory and extraction endeavors have since been put in place. At present, the Carlin Trend is the United States’ most lucrative gold mining location with more than 80% of the country’s gold coming from this special stretch of land.

Olimpiada Mine

Location: Severo-Yeniseysky, Russia

Estimated Annual Production: 1.2 million ounces

The Olimpiada Mine located within Russia’s Severo-Yeniseysky district is currently the third-largest gold mine in the world based on production volume. It’s owned and operated by Polyus, Russia’s largest gold producer. The company employs conventional shovel-and-truck open-pit methods to harvest the ore, and then uses proprietary bio-oxidation technology to treat the ore on-site. At present, the location is estimated to contain over 21 million ounces of gold.

Pueblo Viejo

Location: Sánchez Ramírez Province, Dominican Republic

Estimated Annual Production: 903 thousand ounces

This open-pit gold mine in north-central Dominican Republic is the largest gold mine in Latin America. There are two main sources of gold found within oxide deposits on the site, called Monte Negro and Moore, in addition to several smaller deposits. The mine, which is operated as a joint venture between Barrick Gold and Newmont Goldcorp, is currently going through an expansion initiative. It’s believed to sit on top of at least 6.55 million ounces of gold reserves and is expected to produce through 2040.

Grasberg Mine

Location: Papua, Indonesia

Estimated Annual Production: 848 thousand ounces

The Grasberg mine is an interesting operation considering that it not only sits on one of the largest gold reserves in the world, but also one of the largest copper reserves. It’s located in a remote and mountainous area of Central Papua in Indonesia. The discovery of deposits here was somewhat accidental, first observed in 1936 when Dutch geologist Jean Jacques Dozy witnessed a unique rock formation while attempting to scale Puncak Jaya mountain. Given the site’s remote location, significant foreign investment was needed to begin any sort of formal mining operation, and it took decades for the world to act on the site’s potential. Initial mining operations finally began in 1963, with open-pit efforts beginning in 1990. Today, Grasberg now consists of one large open-pit mine and 4 underground mines. It’s estimated that the gold reserves beneath the site are worth around $40 billion.

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The uses of platinum are as varied as the countries within which it’s found. They range from detoxifying automobile emissions in catalytic converters, to serving as an element in cancer treatment drugs.

A Brief History & Background on Platinum

When compared to the history of gold or silver, platinum’s written history is indeed very brief. The metal is said to have first been discovered by South American native peoples, who used a combination of gold and platinum alloy to craft various symbolic artifacts and pieces of jewelry. This was first made apparent by Spanish conquistadors during the conquest of South America, who regarded it as an impurity within the gold and silver they found.

Platinum was later written about in 1557 by Julius Caesar Scaliger. Scaliger was an Italian humanist and poet who described it as a metal that could not be melted by any technique known at the time. The platinum he was referring to had purportedly been found in a mine between Panama and Mexico.

Today, platinum can be found in small quantities across dozens of countries, but only five account for roughly 97% of the world’s supply. It’s rare to find platinum above ground, with most deposits residing deep in the earth’s crust.

The ore is almost always found to include other metals, and platinum itself is a part of the Platinum Group Elements (PGEs): rhodium, ruthenium, palladium, osmium, and iridium. While less common, platinum and the other PGEs can be found in ore containing other precious metals and gems, including silver, gold, and diamond.

Below, we’ll summarize the primary sources where platinum is mined, in addition to some of the more obscure locations where it has been (or could be) found.

South Africa

South Africa is currently the number one source of platinum on the planet, accounting for over 70% of the world’s supply. Without getting too technical, the highest density of mines can be found within the Bushveld Igneous Complex. This unique vertically layered intrusion of the earth’s crust is comprised of three major zones that yield platinum: The Merensky Reef, the UG2 Reef, and the Platreef.

Russia

Mines in Russia account for roughly 15% of the world’s supply of platinum. The Ural Mountains and the Taimyr Peninsula in Siberia are the largest sources of the precious metal. More specific data on reserves and the number of mines in these regions is uncertain as the country regards it as classified information.

 Zimbabwe

Zimbabwe is also known to have substantial platinum reserves. At present, three significant mining operations located near the center of the country focus on extracting platinum from a geological feature known as the Great Dyke.

Canada

Canada is the fourth largest source of platinum in the world, with most deposits being in Ontario and Quebec. Despite the relative abundance of the metal in these provinces, platinum is primarily a byproduct of nickel mining operations.

United States

Within the US, at least four states contain platinum mining operations. Many mines can be found within Montana, while smaller operations and reserves are located in Alaska, Arizona and Minnesota.

Other Sources of Platinum

In addition to the countries mentioned above, platinum has been found in the Choco Department of Colombia, within copper mines in central Peru, New South Wales in Australia, and even on an ancient volcanic island off the western coast of Scotland called Rum.

Further afield, in outer space, platinum is suspected by scientists to exist in large quantities on asteroids, meteoroids, and even on the moon.

Have Platinum You’d Like to Sell?

Unfortunately, we’re still a long way away from setting up mining operations in space, and most of us might not have access to a platinum mine in a faraway country. However, it’s not uncommon to have platinum scrap laying around given its wide range of uses across many industries.

If you have platinum you’d like to turn into cash, find out how to sell us your lot today and get paid a fair price based on the current London market price fixings.

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If you’re curious about the world’s largest gold rock specimen, here’s a little information about it. Of course, King Henry is only the largest known gold rock; there may very well be a bigger one out there, just waiting to be discovered.

A Bit About the World’s Largest Gold Rock

King Henry, the world’s largest gold rock specimen to ever be unearthed, weighs in at 205 pounds (93 kilograms). As mentioned, the gold-encrusted rock was discovered by miner Henry Dole, back in 2018. He found it nearly 1/3 of a mile (0.5 kilometers) underground while working in the Beta Hunt mine in Western Australia. King Henry contains an estimated 1,400 ounces of gold.

Its value at the time was $3 million. It was purchased by the government of Western Australia to be held and displayed at the government-owned Perth Mint in East Perth, Australia. The mint dipped into its own gold reserves to finance the purchase. And it’s already paid off; in just its first three years, its value had grown about half a million dollars as gold prices boomed.

The discovery was also a financial boon—and a very timely one, at that—for the Beta Hunt mine’s Canadian owners. The mine was nearly going to close down, but King Henry saved it. In fact, the mine has since gone from employing 100 people to employing 450.

Have Gold of Your Own You’d Like to Sell?

You may not have a King Henry-sized hunk of gold, but even small gold items and gold scrap are valuable. Manhattan Gold & Silver purchases gold from industrial and mining organizations, pawnbrokers, dental practices, jewelers, and other business enterprises.

We have a transparent weighing, assaying, and refining process, and we offer same-day payments at the current rates set by the London market fixings for gold prices. If you’re a business with gold to sell, contact us today with any questions. You can also ship or bring your gold and other precious metals to our Midtown Manhattan location.

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The rare earths (there are 17 elements in total) are silver, silvery-white or gray metals and have high electrical conductivity, which is why they are in demand for use in consumer electronics, computers and networks.

According to data from a 2018 US Geological Survey, China is the world’s largest producer of rare earths, with a domestic output of 120,000 megatonnes last year. It’s worth noting that while the country has taken steps to clamp down on environmentally non-compliant rare earth mines, illegal rare earths mining is still a problem in the country.

Behind China, the top countries for rare earth metal production include:

• Australia (20,000 MT)
• United States (15,000 MT)
• Myanmar (5,000 MT)
• Russia (2,600 MT)
• India (1,800 MT)
• Brazil (1,000 MT)
• Thailand (1,000 MT)
• Burundi (1,000 MT)
• Vietnam (400 MT)

Looking at the outputs, it’s not surprising the U.S. depends on China for 80 percent of its rare earth imports. But if China were to cut off its supply to America, as they’ve threatened to do in the midst of the current trade war, where would the U.S. get its rare earth metals? Wyoming, perhaps.

Bear Lodge, located near Sundance in the Bear Lodge National Forest in Northeast Wyoming, is home to one of the richest and highest-grade rare earth deposits in the North America. According to Rare Element Resources, it has an estimated 18 million tons of rare earth. Bear Lodge, however, is idle.

Rare Earth Resources had been exploring the area since 2004, and in 2016, got the green light to mine the rare earth at Bear Lodge. The project, however, was put on hold before it even got off the ground when rare earth prices nosedived.

The prospects for rare earth mining in Wyoming picked up steam again after the Trump Administration released its Federal Strategy to Ensure a Reliable Supply of Critical Minerals. The strategy would help RER cut through regulatory red tape.

Right now, the only operating rare earths mine in the U.S. is the Mountain Pass Rare Earth Mine, just north of the unincorporated community of Mountain Pass, California.

Because they chemically bond to each other and surrounding dirt, rocks and mineral sediment, the biggest challenge isn’t finding rare earth metals—it’s harvesting them. The process is also more costly in the U.S. since refining and separation plants have to meet far higher environmental standards.

If China were to cut off its supply of rare earth, the U.S. can just develop their own rare earth supply, whether it be from Mountain Pass, Bear Lodge, or both.

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Where Gold Comes From

One theory many scientists believe is that precious metals, including gold, crash landed on Earth via meteorites that bombarded the planet more than 200 million years after its formation. When molten iron sank to the Earth’s center to form the core, it took most of the planet’s precious metals (and gold) along with it. Hot water trapped deep inside the Earth eventually cracked the planet’s solid-rock layer, releasing quartz-and-gold-filled veins.

That’s what makes the gold mining process so challenging. Gold located close to the surface can be extracted using open-pit mining techniques, while gold that’s located farther below the surface is excavated with underground mining methods. Areas where gold is concentrated enough to be mined profitably are far less common.

What Makes Gold a Precious Metal?

Well-known precious metals include silver, palladium, platinum and the most distinguishable one, gold. For a metal to be considered precious, it must be:

• Rare – A metal must be more difficult to find than other types of metals.
• Valuable – A precious metal’s rarity should give it economic value as an investment, art, jewelry and a commodity.
• Naturally occurring – Precious metals must be naturally-occurring compounds that can found on the periodic table of elements.

Let’s look at gold, more specifically. Unlike diamonds and other gems, gold can’t be artificially produced. It isn’t formed on this planet but exists in its natural state contained within the Earth’s crust. It’s what makes it rare. According to Gold.org, if we melted down all the gold ever mined throughout history (approximately 190,000 tons), it would result in a cube of pure gold that would measure roughly 68 feet on each side.

Running out of Gold

Since the planet has a finite supply of gold, running out of the natural resource is conceivable. According to US Geological Survey estimates, there is only about 52,000 tons of mineable gold still in the ground. Global gold mining, however, adds about 2,500-3,000 tons to the overall above-ground stock of gold each year. By those estimates, there may be only about 17 more years of underground gold left to mine.

Things, however, aren’t that simple. Gold reserves, for example, have remained unchanged since 1995—despite the mining of 2,500 tons of gold each year. That’s because new discoveries and old mine developments are keeping pace with current mine production.

If the thought of running out of gold is still unnerving, consider this: gold can be recycled. That’s why we can’t run out of gold like we would a non-renewable resource, like oil. If gold mines were to tap out the Earth’s natural supply, the gold industry would simply transition from mining to recycling.

Recycling Gold

Fortunately, we haven’t run out of gold yet. But why wait to start recycling? Because gold is so stable and valuable, it can be recycled with no degradation in quality and repurposed without the need for new mining.

According to the World Gold Council, at least 15 percent of the annual gold consumption is from recycled gold. In fact, if the world recycled less than 3 percent of the existing gold supplies, it could satisfy most of the global demand. Jewelers who sell their gold scrap contribute to the large amount of gold that re-enters the market each year via precious metal recycling.

Finding an Experienced Gold Refiner

Since 1985, businesses from all over the world have come to Manhattan Gold & Silver to sell their scrap gold lots. Scrap gold buyers are critical to the gold supply chain. About 1,000 tons of gold are recycled each year to meet annual market demands, which is higher than what is produced through mining alone.

If you’re selling your gold lot or any other kind of precious metal, contact us and learn how our refining services can put revenue back into your business. Gold, mining, gold recycling

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Originally discovered as a 41.11-carat rough stone in the ODC’s Orapa mining site, the “Okavango Blue” was given an Oval Brilliant Cut and polished down to 20.46 carats – making it the largest blue diamond ever discovered in Botswana, Africa.

Both the Okavango Blue and the Hope Diamond are classified as Type IIb diamonds, meaning that they contain no detectable nitrogen (which cause an undesirable yellow or brown coloring) and significant levels of boron (which cause a gorgeous blue or blue-gray coloring). While both diamonds are extremely pure, the Okavango Blue earned a clarity grade of VVS2 from the GIA – making it one level higher than the Hope Diamond’s VS1 grade. Of the two, the Hope Diamond is definitely larger, weighing even more than the pre-cut Okavango Blue at 45.5 carats.

In 2016, a 12.03-carat blue diamond sold for more than $25 million at auction, breaking the record for most expensive gem of its kind ever sold. Although the Okavango Blue’s value has not been appraised publically, we wouldn’t be surprised if it becomes the new record holder when it’s auctioned off later this year.

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