Much later, gold became even more accessible. In 1848, gold was discovered in California. More than 2.5 million people from all over the world rushed to the United States to seek their fortune. For the first time in the history of humanity, regular people rather than states or entities were hunting for gold. These optimistic prospectors - from China, Russia, and Europe - organised themselves into work cooperatives. They dug for gold for themselves and no one else. The gold belonged those that found it.

Despite its longstanding power of attraction, the search for gold has not always been as successful as it is now. Just a few decades ago, extracting gold deposits was rarely profitable. "When I started my career in 1965, we weren't looking for gold," says Pierre J. Goosens. "Governments had set the price of gold at $35 an ounce (or 31.1 g). Gold analysis methods were rare and expensive. At the time it was estimated that there was enough gold in the world and the existing mines were sufficient."

It wasn't until the early 1970s that an easy and affordable gold analysis method was invented in the United States: atomic absorption. When the United States abandoned the gold standard in 1971, the market opened up and the price of gold shot up. It reached a yearly average of $800 per ounce in 1980. At the same time, the price of other gold analysis methods decreased. The combination of these different factors prompted both companies and individuals to start searching for the noble metal. A number of abandoned mines in Canada, Australia, and the United States became operational again because of new potential. During the 20th century and the beginning of the 21st, gold mining production increased dramatically. 

A not-so gilded history

"Looking for gold is a bit like looking for a needle in a haystack," says Pierre J. Goossens. In most mines, several gold particles are dispersed within rocks weighing several tonnes. Since extensive investments are made to extract the gold, the resulting profits must compensate for the initial expense. However, just several grammes of gold can make an excavation worthwhile. "In open-pit operations, one gram of gold per tonne of rock remains profitable," claims the expert. When gold is underground, the cost is much higher. One deposit must contain at least 5 or 6 grammes of gold per tonne of rock in order to be extracted, which is actually very little given that some mines have close to 50 grammes of gold per tonne. To extract the gold, the rock is usually ground before being subjected to different chemical treatments. Mercury in particular can isolate gold that is embedded in the rock. 

The disadvantage of these chemical techniques (cyanides) is that they leave behind toxic residues. These are channelled into a pond (usually artificial), which is protected by dams so that that the chemicals don't contaminate the groundwater. In reality, unscrupulous companies sometimes don't take the necessary precautions. The dams then release their toxic chemicals, which spill into the rivers. In Romania several years ago, dams cracked and created a veritable environmental catastrophe. The contaminated waters reached the Danube River. A similar incident also occurred in Guyana. 

However, the mining expert is only aware of these two cases of extreme pollution, out of thousands of active mines. He believes the problem can be resolved with appropriate funds. However, local populations are often quite worried about pollution, and oppose excavations despite the considerable benefits a mine can provide to the local economy. Tax revenues from gold mines can contribute a great deal to country's economy. Unfortunately, government corruption often prevents the population from benefitting from these revenues.