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A Bullion Reasons To Back Australia’s Gold Industry

A Bullion Reasons To Back Australia’s Gold Industry

Gold is big business in Australia.

More than 30,000 Australian jobs depend on the gold industry, in addition to more than 200,000 jobs that are indirectly related to gold.

Australia is home to more than 65 gold mines, making it the world’s second largest gold producer.

And 14 of the world’s biggest gold mines are in Australia – 11 of them in Western Australia.

It also generates millions of dollars in royalties, which governments use to fund infrastructure and community services.

For the first half of 2021, Australia produced four tonnes more gold than China.

Here’s Australia’s gold production forecast until 2023 (in metric tons):

A Bullion Reasons To Back Australia’s Gold Industry 1

Perth Mint listed products and investment research manager Jordan Eliseo told Australian Mining gold has been one of the safest commodities of the past 24 months.

The Perth Mint in Western Australia reported an underlying pre-tax profit of $56 million on turnover of $26.35 billion for the 2020-21 financial year. This is a record in the mint’s 122-year history. 


The Properties of Gold

Chemical symbolAu (from Latin: aurum)
OreUsually found as a native metal
Relative density19.3 g/cm3
Hardness2.5-3 on Mohs scale
Melting point1064°C
Boiling point2970°C

The most common gold compounds are auric chloride (AuCl3) and chlorauric acid (HAuCl4). A mixture of one part nitric acid with three of hydrochloric acid is called aqua regia (because it dissolved gold, the King of Metals). It is unaffected by air and most reagents.

Why Proper Testing Equipment Is Important

A number of minerals are commonly mistaken for gold; they are often referred to as “fools gold”. 

These include pyrite (FeS2) and chalcopyrite (CuFeS2). 

They can be distinguished from gold by scratching it – the powder (streak) produced will be black. 

If gold is scratched the powder will be a gold colour.

Portable XRF analysers are ideal for jewellers, refiners and pawn shops – and many are used at the Perth Mint in multiple departments – to test the purity and composition of their precious metals. XRF quickly provides the exact percentages of all elements within an item, easily identifying:

  • Karat and concentration of gold
  • Non-standard materials
  • Under-karated materials
  • Sophisticated counterfeit precious metals that acid testing is incapable of differentiating 

Portable XRF analysers are also used for the mining/geology industries, as they can be operated virtually anywhere on site and easily accommodate a wide variety of samples, with little or no sample preparation.

This makes them substantially advantageous in mining operations, because it provides immediate feedback and allows for quick decision making, including:

  • Whether to stop or continue drilling
  • When to make equipment relocation decisions
  • Where to focus on the grid
  • When to select a sample for laboratory analysis
  • The real-time analysis of a handheld XRF also prequalifies samples for off-site lab analysis, which ensures only the best samples are evaluated.

The Right Gold-Testing Tools

Niton™ XL2 Precious Metal AnalyserThermo Fisher Scientific – XRFNiton™ DXL AnalyserThermo Fisher Scientific – Bench Top XRF
A Bullion Reasons To Back Australia’s Gold Industry 2A Bullion Reasons To Back Australia’s Gold Industry 3
Standard analytical range: >25 elements from S to U (varies by application).

Point and shoot simplicity—very easy to use even by nontechnical personnel

Ideally suited for retail environments

Non-destructive analysis with near-instantaneous results

Ergonomic design
Innovative colour touch-screen display and touch-screen keyboard

Improved intuitive interface

CCD Camera

Large sample chamber with a back window for customer view

Optional small spot for the isolation of small components
Learn moreLearn more

The Benefits Of Niton Portable XRF Analysers

These tools offer instantaneous, accurate and non-destructive precious metals analysis.

When quick and informed decisions need to be made to ensure the profitability of a transaction in precious metals trading, or to make sure jewellery is free of toxic substances or coatings, the use of X-ray fluorescence spectroscopy can be invaluable.

Thermo Scientific Niton portable XRF desktop and handheld analysers provide pawn shops, cash-for-gold businesses, jewellers, recyclers and refineries with fast, reliable and accurate results for:

  • Determination of karat grade and fineness
  • Analysis of all precious metals including gold
  • Analysis of alloying elements like copper, zinc, nickel, etc.
  • Analysis of toxic elements like cadmium or lead etc.
  • Detection of gold plating presence with patented AuDIT Technology

Unlike traditional test methods, all precious metals and alloys, in various sizes and shapes are tested completely non-destructively.

Contact PAS for expert guidance about the Thermo Fisher Scientific Niton DXL or the Niton XL2, and which will best suit your gold-testing needs.