South Africa’s AngloGold Ashanti is currently the third-biggest producer of Gold. It has cut down the time it takes to drill the precious metal from 30 days to just three and a half. It is aiming to get this down further to two days with continued research and development.
AngloGold’s new technology involves removing only the mined Gold-bearing ore and replacing it with a mixture of cement and chemicals to stabilise the structure; this has allowed it to revisit mines thought to be unsuitable for further production.
AngloGold’s CEO Srinivasan Venkatakrishnan described this as “a game changer” in an interview with Bloomberg.
News source: Gold Investing News.