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Friday, June 19, 2015

Urban mining has long-term potential to contribute significantly to gold supply

12TH JUNE 2015 BY: ILAN SOLOMONS CREAMER MEDIA STAFF WRITER @KMGGold excerpt. http://on.fb.me/1GVZiKr @MiningWeeklyCA @MiningWeekly http://bit.ly/1KL7Aqa

KMG Gold featured in Mining Weekly Article

...US- and Canada-based precious metals and minerals recycler KMG Gold Recycling president Michael Gupton says, if gold stays at around $1 200/oz, this will encourage more people to sell their gold.

"In Canada, our customers monitor not only the price of gold but also the value of the Canadian dollar against the US dollar. In the last five months, we have seen the Canadian dollar decline against the US dollar, therefore, in Canada, gold is selling for around C$1 500/oz, which is sufficient to trigger small and medium-sized businesses to sell their gold reserves," he points out.

Gupton adds that the consumer market is KMG's primary source of recycled gold, owing to individuals selling their scrap jewellery. "In the industrial market, we receive large volumes of gold from jewellers who sell their industrial vacuums and bench sweeps, as well as dentists and dental technicians selling grindings, sprues and dental industrial vacuums," he states.

KMG also recycles platinum-group-metals products such as thermal couple wires and plati- num labware crucibles. "We always try to find solutions to recycle precious metals wherever we can. Our latest solution is for recovery level silver content materials, such as the silver sludge from old X-ray films, which, in the process, destroys unwanted old X-rays that doctors have an obligation to effectively dispose of owing to their confidentiality requirements," Gupton points out.

KMG's gold processing facilities are located in North Dakota, in the US, and Winnipeg, Canada...

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Posted by Michael Gupton at 9:26 AM 0 Comments