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The New Gold Mines

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05/24/2010

At one Colorado gold mine:

Cash costs amounted to $482 per ounce in the first quarter, compared to a company-wide average of $619.

Not surprisingly, the number of humans required to dig out an ounce of gold is just a fraction of what it was in the good ‘ol days, and today’s average gold miner (in the industrialized world, at least) has a much safer and comfortable life than in the mines of yore. This article provides an interesting summary of how some gold is mined in the 21st century.

Ryan McMaken (@ryanmcmaken) is the editor of Mises Wire and The Austrian. Send him your article submissions, but read article guidelines first. Ryan has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.

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