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Why are old mines sometimes reopened What factors may have influenced the reopening of old mines?
Wiki User
∙ 13y ago
mines close when the ore is not producing enough minerals to pay for the expenses of the mine and not making a profit. They reopen if the price of the mineral in the ore goes up enough so that the mine makes a profit. Example: a mine produces $100 of gold per ton back in 1900. But extracting it costs $500 so the mine closes. Now with gold prices today it would be $1900 of gold per ton and an extracting cost of $700. So it reopens.
Wiki User
∙ 13y ago
Old mines are sometimes reopened due to various factors. One reason is the increase in demand and price of the minerals or resources that were previously extracted from the mine. Other factors that may influence reopening include new technological advancements in mining techniques, improved safety measures, and the potential for discovering new mineral deposits or reserves in the old mine. Additionally, economic and political factors, such as government incentives or policies, can also play a role in the decision to reopen old mines.
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