Although no one knows for sure when gold mining in Hyder AK first began, it has been a profitable venture throughout history and still is today. The California Gold Rush in the mid-1800s is one event often thought of when gold mining in Hyder Alaska is mentioned, but as television programs can attest, gold mining in Hyder Alaska is still thriving today.
With gold prices continuing to soar, Hyder AK gold mining is more profitable than ever. According to Current Gold Gram Values, as of Feb. 28, 2013, one ounce of gold is valued at $1,576.70. With gold valued at such a high rate, the benefits of Hyder Alaska gold mining are boundless.
Hyder AK Gold mining is profitable, as current rates can attest; even an ounce of gold is valuable. Another benefit of gold mining in Hyder Alaska is that if gold was not mined, there would not be the amount in circulation that there is. According to the World Gold Council, 90 percent of the world's gold has been mined since the California Gold Rush.
Gold mining in Hyder AK produces a product that holds its value. With fear of the United States dollar and other currencies around the world losing value, investors and those concerned about deflation are buying large amounts of gold.
Gold mining in Hyder Alaska employs thousands, boosting economies by exporting and trading the valuable material. Gold mining in Hyder AK also provides work to citizens. In developing countries, gold mining in Hyder Alaska can be especially critical in building wealth, particularly if that country does not have other means of trade. Gold production gives developing countries a means of attracting foreign investment. Governments in developing countries can also tax gold mining, giving the government extra revenue.
Gold can be mined in a variety of ways, including placer mining. This type of gold mining in Hyder AK involves using water or dredging to remove deposits of gold. Likely the most commonly thought of way to extract gold is by panning, though large-scale operations would not use this method. Panning for gold separates the gold from other materials such as gravel or soil. A pan is placed in water and shaken to sort gold, which settles at the bottom of the pan, from the other materials. Gold panning in Hyder Alaska is a popular tourist attraction in places with a history of gold mining, such as Alaska and California.
The most widely used modern form of gold mining in Hyder Alaska comes in hard rock mining. Rather than sifting through loose material, such as is used in panning, hard rock gold mining removes gold encased in rock. These operations can be done above ground or underground in shafts.
Open-pit mining, also known as strip mining, is often toted as more cost-effective way of gold mining in Hyder AK and increases worker safety. Workers aren't exposed to the risk of a cave-in or closed quarters with toxic fumes. Also machinery isn't constricted, as it would in a mine shaft, therefore production is increased. Advocates also cite that less equipment and manpower is needed, which saves on costs.
Grab a pan and go see why gold mining in Hyder Alaska is making a huge comeback.