After a gold deposit is discovered somewhere on Earth, it typically takes between 10 and 20 years before a gold mine is ready for production. Then, the operational timespan of a gold mine is usually between 10 and 30 years. Following the extraction of all of the gold ore that is economically feasible to mine in any given gold mine, a phase of mine closure and decommissioning begins. After that, the gold mining company that managed the mine is often responsible for managing the site and rehabilitating the land.
Only about 10 percent of gold deposits worldwide contain enough gold to justify developing a mine. Indeed, less than 0.1 percent of prospected sites where gold is discovered will lead to a productive gold mine.
Average life cycle of gold mines worldwide, by phase
(in years)
Mine phase
Lower range duration in years
Upper range duration in years
Gold mine exploration
1
10
Gold mine development
1
5
Gold mining operation
10
30
Gold mine closure and decommissioning
1
5
Gold mine reclamation and post-closure*
5
10
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World Gold Council. (March 12, 2024). Average life cycle of gold mines worldwide, by phase (in years) [Graph]. In Statista. Retrieved February 22, 2025, from https://www.statista.com/statistics/859811/average-life-cycle-of-gold-mines-worldwide-by-phase/
World Gold Council. "Average life cycle of gold mines worldwide, by phase (in years)." Chart. March 12, 2024. Statista. Accessed February 22, 2025. https://www.statista.com/statistics/859811/average-life-cycle-of-gold-mines-worldwide-by-phase/
World Gold Council. (2024). Average life cycle of gold mines worldwide, by phase (in years). Statista. Statista Inc.. Accessed: February 22, 2025. https://www.statista.com/statistics/859811/average-life-cycle-of-gold-mines-worldwide-by-phase/
World Gold Council. "Average Life Cycle of Gold Mines Worldwide, by Phase (in Years)." Statista, Statista Inc., 12 Mar 2024, https://www.statista.com/statistics/859811/average-life-cycle-of-gold-mines-worldwide-by-phase/
World Gold Council, Average life cycle of gold mines worldwide, by phase (in years) Statista, https://www.statista.com/statistics/859811/average-life-cycle-of-gold-mines-worldwide-by-phase/ (last visited February 22, 2025)
Average life cycle of gold mines worldwide, by phase (in years) [Graph], World Gold Council, March 12, 2024. [Online]. Available: https://www.statista.com/statistics/859811/average-life-cycle-of-gold-mines-worldwide-by-phase/
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