The influence of a fluctuating gold price on the potential of mining low-grade areas

This title of is not that originally chosen for the Colloquium, which was 'A high gold price'. Such a title would have been unfortunate because it would have related the Colloquium only to the high gold price of the past two years, which reached the dizzy peak of 850 dollars per ounce in January 1980. The chosen title is, of course, the right one because it places the whole problem in the right perspective. It relates to a situation that has occurred many times before. Over the course of the past century, the gold price has periodically been inhibited from rising, so that it has undergone a succession of stepwise increments. With each increase, the relationship of the working cost to the gold price alters, and gives rise to a jump in ore reserves. Award for CMI fuelling technique Consolidated Metallurgical Industries Limited - the Lydenburg-based ferrochromium producer in the J.C.I. group - was one of the five recipients of the 1981 National Productivity Institute annual award.