As proposals for new gold mines explode across New Zealand, sparking criticism and controversy, a more fundamental question is being asked: Do we actually need any more gold? Mike White reports in the Sunday Star Times.
“The total amount of gold held just by central banks around the world is about 35,000 tonnes. That’s enough gold to meet our technological needs, at current rates, for more than 100 years.
Within mining circles, gold is, somewhat ironically, seen as the industry’s least worthy sector, a proxy for greed or a store of wealth at best, with little practical purpose….In 2024, just 6.5% of the nearly 5000 tonnes of gold mined and recycled globally was used for technology,
In January, the Government ignored official advice and controversially added gold and coal to the country’s list of “critical minerals”, one of the only countries in the world to do so.
Read Mike’s full story:
https://www.thepress.co.nz/nz-news/360835451/new-zealands-new-gold-rush
Sams Creek Collective does not believe that the world needs more gold or that it is a ‘critical mineral’.
Read our earlier post about ‘e-waste recycling break-throughs: https://samscreek.nz/science-turning-old-electronics-into-gold-a-recycling-breakthrough/
It will come as no surprise to learn which minister it was who overruled official advice on gold not being a critical mineral. Yes, you guessed it: Shane Jones.