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Molten gold signals Mother Lode revival
Posted By -NO AUTHOR- On 12/28/2012 @ 12:54 am In Money | No Comments
(Associated Press) The gold miners who made California famous were the rugged loners trying to shake nuggets loose from streams or hillsides. The ones who made the state rich were those who worked for big mining companies that blasted gold from an underground world of dust and darkness.
The state’s great mines closed because mining gold proved unprofitable after World War II. But with the price of the metal hovering around $1,700 an ounce, the first large-scale hard rock gold mining operation in a half-century is coming back to life.
Miners are digging again where their forebears once unearthed riches from eight historic mines that honeycomb Sutter Gold Mining Co.’s holdings about 50 miles southeast of Sacramento. Earlier this month, mill superintendent Paul Skinner poured the first thin stream of glowing molten gold into a mold.
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