Page 49 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 2 | Issue 07 | July 2022

Cleaner gold extraction technology
goes global
A technology that enhances the extraction
process of several metals developed by
scientists at Australia’s Curtin University
made it to the global market after selling
the researchers’ industry partners, Mining
and Process Solutions (MPS). Czech
multinational chemical supplier Draslovka
is the company behind the acquisition of
MPS, whose leaching technology uses
amino acids such as glycine to extract
gold, copper, cobalt, and nickel. The
technology is still in the trial phase and
does not eliminate cyanide but reduces its
use to varying degrees depending on the
ore being treated.
Source: https://www.mining.com

Gold refineries to be established in
Saudi Arabia soon: Official
The gold extracted from Saudi mines
is refined in Switzerland, implying a
very high cost for the mines, amounting
to nearly 35% of their profits. The
Precious Metals & Gemstones National
committee communicated with the
Ministry of Industry and Mineral
Resources to issue a decision on
refining gold in the Kingdom.
Source: https://www.argaam.com

Iraq ranked sixth among Arab countries in gold reserves
The gold reserves of Arab countries by the end of the first quarter of
2022, where Iraq came sixth. The report showed that Iraq has 6.8
percent of the Arab countries’ gold reserves with about 96.4 tons, while
Arab countries together owned about 1412.7 tons at the end of the first
quarter of 2022. The global resources of gold are 35.59 thousand tons,
and the reserves of Arab countries represent around four percent of
the international funds. Saudi Arabia ranked 18 globally and came first
among Arab countries with gold reserves of 323.1 tons representing
22.9 percent of the gold reserves of Arab countries.
Source: https://www.iraqinews.com

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