GOLD & SILVER IS AT AN ALL-TIME HIGH LEARN MORE

Mining in Minnesota: Gold, Taconite, and More

MN mining has a long history, beginning with the native peoples of Minnesota. The first European settlers to arrive in Minnesota found native people already mining the area’s iron ore.

Today, taconite mining is a major industry in Minnesota, responsible for $3 billion in annual sales and thousands of jobs. In 2016, the state of Minnesota approved a new 20-year lease for the state’s largest taconite mine, owned by Cleveland-Cliffs. However, taconite is not all that has been mined in MN.

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Why is Gold Valuable?

Economies across the globe have always held gold in high regard. Even though gold mining did not have workplace technologies and the safety regulations modern companies have, they were still present in the majority of countries before the advent of flight or sailing. Throughout the ages, pirates, monarchs, and merchants have always been on the lookout for the next gold score they could attain.

Although some materials today are more valuable than gold, nothing can beat out gold in prestige, versatility, and aesthetic value–and its number of industrial uses. If there are materials that are technically more valuable, why is gold held in such high regard?

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Is Gold Magnetic?

Gold is a metal that is found in nature. It is one of the most valuable metals in the world because it doesn’t corrode, and it has a very low reactivity to other elements. Gold also has a very low melting point, meaning it can be turned into a liquid relatively easily.

One of the most common questions about gold is whether it is magnetic or not.

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Are Olympic Medals Solid Gold?

Dozens of Olympic athletes took the podium to receive gold, silver, and bronze medals in the Beijing Winter Olympics last month.

Olympic medals are an iconic part of the events, but what are they actually made out of? How much do they weigh? What are they worth from a precious metals standpoint? Read on for some insight into what Olympic medals are composed of as well as what made the Beijing medals unique.

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