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Japan's new source of mineral wealth
RegistryCoin
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Resource-poor Japan just discovered a new source of mineral wealth -- sewage.
A sewage treatment facility in central Japan has recorded a higher gold yield from sludge than can be found at some of the world's best mines. An official in Nagano prefecture, northwest of Tokyo, said the high percentage of gold found at the Suwa facility was probably due to the large number of precision equipment manufacturers in the vicinity that use the yellow metal. The facility recently recorded finding 1,890 grammes of gold per tonne of sludge incinerated.
That is a far higher gold content than Japan's Hishikari Mine, one of the world's top gold mines, owned by Sumitomo Metal Mining Co Ltd (5713.T), which contains 20-40 grammes of the precious metal per tonne of ore.
The prefecture is so far due to receive 5 million yen ($55,810) for the gold, minus expenses.
It expects to earn about 15 million yen for the fiscal year to the end of March from the gold it has retrieved from the ashes of incinerated sludge.
"How much we actually receive will depend on gold prices at the time," the official said.
Some gold industry officials expect prices this year to top the all-time high above $1,030 per ounce set in 2008, on buying by investors worried about the deepening economic downturn. (Reporting by Miho Yoshikawa; Editing by Hugh Lawson)
© Thomson Reuters 2009 All rights reserved
A sewage treatment facility in central Japan has recorded a higher gold yield from sludge than can be found at some of the world's best mines. An official in Nagano prefecture, northwest of Tokyo, said the high percentage of gold found at the Suwa facility was probably due to the large number of precision equipment manufacturers in the vicinity that use the yellow metal. The facility recently recorded finding 1,890 grammes of gold per tonne of sludge incinerated.
That is a far higher gold content than Japan's Hishikari Mine, one of the world's top gold mines, owned by Sumitomo Metal Mining Co Ltd (5713.T), which contains 20-40 grammes of the precious metal per tonne of ore.
The prefecture is so far due to receive 5 million yen ($55,810) for the gold, minus expenses.
It expects to earn about 15 million yen for the fiscal year to the end of March from the gold it has retrieved from the ashes of incinerated sludge.
"How much we actually receive will depend on gold prices at the time," the official said.
Some gold industry officials expect prices this year to top the all-time high above $1,030 per ounce set in 2008, on buying by investors worried about the deepening economic downturn. (Reporting by Miho Yoshikawa; Editing by Hugh Lawson)
© Thomson Reuters 2009 All rights reserved
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Comments
<< <i>Gives new meaning to" Sh*t a Gold Brick" >>
It's just that the location is not good. Most dense residential areas do not want an incinerator nor a mine nearby.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
I confess to have eaten gold in Japan -- pastries topped with gold leaf were popular for a while.
Regardless, when I take the shovel out back to the outhouse, it's to dig a new hole......... not to dig through the old hole.
Ray