Dupe

[PaulaFarrell]

By Daniel Howden
Published: 26 October 2005

The lust for gold has reached record levels worldwide as India and China have joined developed nations in demanding more jewellery. On the back of this surge, gold prices have reached a 17-year high, and yesterday rose $7.70 (£4.30) to more than $474 per ounce. But the world's remaining gold deposits are microscopic and the environmental costs of extracting them are profound.

A £1,000 wedding ring - equivalent to one ounce of gold - creates up to 30 tons of toxic waste. To produce that single ounce, miners have to quarry hundreds of tons of rock, which are then doused in a liquid cyanide solution to separate the gold. Payal Sampat, the campaign director for Earthworks, the mining watchdog, told The Independent: "Gold mining is arguably the world's dirtiest and most polluting industry."

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Of the gold mined today, a total of 80 per cent is produced to feed the demand for status symbols. Campaigners are trying to dissuade shoppers from buying "dirty gold", which is extracted using cyanide leaching. But they face an uphill struggle. Newly affluent consumers have pushed jewellery sales to a record $38bn this year, according to the World Gold Council.

With the best ore already mined in most developed countries, the industry is turning to the poorest countries in the world. Up to 70 per cent of gold is mined in developing countries such as Peru and the Philippines. Vast tracts of the developing world are being laid to waste, leaving a multibillion-pound toxic time-bomb.

http://news.independent.co.uk/environment/article322302.ece