How is it determined that a mine has run out of gold?
In: 7119
It costs money to move rocks around. For each bucket of ‘waste rock’ you have to recover a certain amount of ‘valuable rock’ (ore).
You never actually run out of gold, you reach a point where the cost to dig it up is more than the value you get.
This is a combination of things like fuel, labor, processing, etc. but ultimately it comes down to just not being worth it to try.
When prices fluctuate it can have a very large influence on the viability of a mine.
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