Gold Idaho Maryland Mine

Joseph l.Cox By Joseph l.Cox, 13th Oct 2012 | Follow this author | RSS Feed | Short URL http://nut.bz/2t6ch141/
Posted in Wikinut>Guides>Science>Rocks & Minerals

The Idaho Maryland,was the second highest producer of gold in California. it had to close because of low gold prices like the rest of the mines. new developers ahve taken it over and are going to reopen it as a new modern facility, and be diversified
into new ways to use their waste and by products.

One of the Highest Producers in the Mother Lode

The Idaho Maryland Mine was second only to the Empire in dollar value mined; it closed in 1956 along with the rest of the hard rock mines due to the price of gold that the government locked at $35.00 per ounce. At that price they could not pay operating expense, and still make a profit. Their only option was to close down.

The Idaho Maryland mine has survived these many years since 1956 when the government froze the price of gold at $35.00 per ounce, that did not even cover operating expense much less allow them to make a profit. Now there is new life being breathed into the old mine. A new corporation has purchased the mine and all assets and they are going to turn it into a light industrial complex and reopen the mine.
price of gold is now at almost $2000.00 an ounce, even at today’s operating costs that will turn the company a tidy profit. The other lines of products they are going to go into should make it a very profitable venture. One of the first things they will do is address the environmental issues such as the waste water being dumped into Wolf Creek, they will clean it up so it is good water being discharged into the creek. Then they will clean up the old tailings dump, and turn them into aggregates (gravel). Included in the deal is a new ceramics manufacturing facility that will use a lot of the mine by products.

Renew and Restore is Coming


During the Great Depression from 1929 to 1940 there was no depression in Nevada County California, because the mines were operating and paying wages, so the miner’s families had a good life. The Idaho Maryland properties were several mines that Errol MacBoyle, made into a conglomerate and turned them into a major producer of gold, producing over 100,000 ounces of gold a year.

Errol MacBoyle would be pleased if he could be a part of this new generation of gold mining, he always used to do things first class and the New Idaho Maryland looks to me like it will be a first class operation. It will again bring prosperity to the Grass Valley Nevada City part of California.

Tags

Enivormental, Gravel, Induastrial Complex, New Generation, Price Frozen

Meet the author

author avatar Joseph l.Cox
started writing 2 yr ago, to help afriend with some research. i enjoyed it and decided i would do thi on my own, i still enjoy. i write alot of personal stories and health articles.

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Comments

author avatar Denise O
14th Oct 2012 (#)

I do hope it brings a lot of good to those that live there. Nice read. Thank you for sharing.:)

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author avatar Joseph l.Cox
14th Oct 2012 (#)

thanks and again your comments are welcome

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