The New Gold Rush: How Digital Tools and AI Are Reviving Abandoned Mines
In mining, billion-dollar decisions often rest on what happened months and years ago in the core shackāan unassuming shed near a potential goldmine where drill cores become data. Geologist David Newton should know. Early in his career, he spent long, cold days manually logging drill core data into sprawling Excel spreadsheets thousands of rows deep. āThatās where the rubber meets the road,ā he says. āIf logging errors slip through unnoticed, they can’t easily be fixed. And the crazy part is, the people logging that data are often the most junior, lowest-paid employees in the whole operation.ā In any industry where data underpins important decisions, precision is everything. This is especially true in gold mining, where the stakes have never been higher. Over the past decade, gold prices have increased by over 160%. In the last six months alone, they leapt nearly 30%, surpassing the $3,500 per ounce mark for the first time in history. A golden opportunity This extraordinary rise is doing more than boosting the value of portfoliosāitās flipping the script on the economics of mining. Mines that were mothballed decades ago and deemed too expensive to continue working are suddenly gleaming with promise. āWhen gold booms, the calculus