Peak Production
By the 1950s many of the original plots had been mined out, and only the richer veins remained profitable. By the mid-1960s most of the mines in the area had closed. Even the main Hollinger eventually closed in 1968.
Gold prices started to rise, inflation adjusted, for the first time starting in the later 1960s, rising to $150 by the 1970s. By the late 1980s this had increased to an average around $400 a troy ounce. Improvements in mining techniques had by this time dramatically improved recovery rates and cost of operation, and a third wave of mines opened. These efforts included reprocessing of the massive tailing piles left by the previous mining efforts.
Most recently many of the remaining plots were acquired by Goldcorp Inc. (Porcupine Gold Mines).
Read more about this topic: Porcupine Gold Rush
Famous quotes containing the words peak and/or production:
“Sleep shall neither night nor day
Hang upon his penthouse lid;
He shall live a man forbid;
Weary sev’n-nights, nine times nine,
Shall he dwindle, peak and pine;
Though his bark cannot be lost,
Yet it shall be tempest-tossed.”
—William Shakespeare (1564–1616)
“It is part of the educator’s responsibility to see equally to two things: First, that the problem grows out of the conditions of the experience being had in the present, and that it is within the range of the capacity of students; and, secondly, that it is such that it arouses in the learner an active quest for information and for production of new ideas. The new facts and new ideas thus obtained become the ground for further experiences in which new problems are presented.”
—John Dewey (1859–1952)