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Barrick Gold Corporation has one of the largest open-pit gold mines in North America located on its Goldstrike mine property in north eastern Nevada. Other gold mines use underground mining, where the ore is extracted through tunnels or shafts. South Africa has the world's deepest hard rock gold mine up to 3,900 metres (12,800 ft) underground. At such depths, the heat is unbearable for humans
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Typical operating costs for mills used in gold extraction are summarized in Table 3. The selection of a mill size is ultimately a function of the economics of the project and which mill size will maximize the project NPV. Thus, a case-by-case analysis must be performed with a proper costing model to determine a proper decision regarding mill size. Table 4 below is a sample cost model for a 1
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