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Induction Gold Melting Furnaces Improve The Gold Industry
Gold mining has been occurring throughout history, even during ancient times. Gold is one of the most highly sought after precious metals and has uses in all sorts of everyday things from jewelry to money to medical components.
Internationally, many countries are engaged in the business of gold mining. The United States, Russia, Australia, Peru, Indonesia, Uzbekistan, and Mali are some of the many. In the United States, two states supply two-thirds of the gold used: South Dakota and Nevada. There is a controversial project in South America that involves the exploitation of rich fields on the border between Chile and Argentina. Gold mining and production is truly a global industry, even though it is suffering right now due to high costs and falling prices.
Gold is highly malleable, and for it to be shaped, it first must be melted. Mining companies use a gold melting furnace to accomplish this. Many gold melting furnaces today utilize induction melting, which is advantageous, especially for a struggling industry.
Why induction melting is beneficial
Induction melting furnaces are more modern than other traditional methods of melting precious metals. As a result, they are better suited to the gold mining industry.
Firstly, induction heating is fast. Not only does the heating happen quickly compared to other types of melting, such as melting accomplished using gas or oil, but there is a fast start up time. Induction melting furnace start-up is instant. As a result, the slow start-ups that are characteristic of fuel based furnaces are eliminated. Additionally, an induction furnace can be turned on or off at any time. This is also beneficial in the case of a short circuit. The furnace can be shut off quickly, which means a safer work environment and less risk to the sensitive components that may be harmed by a short circuit.
Secondly, production time is increased. Because of the fast start-up times and the fast melting, more time is spent melting gold. This will increase production rates, allowing for more gold to be melted, and decreasing the cost of production.
Thirdly, energy efficiency is characteristic of all furnaces using induction. The internal temperature remains constant despite the amount of input power. This is not the same with gas or oil based furnaces. Additionally, there is minimal heat loss, even if less power is being used and consumed.
This energy efficiency also ensures that the melted gold is of high quality, which is important, especially when the industry is hoping for gold prices to rise.
Financial analysts have a pessimistic outlook for the gold industry, as do those that are actually involved in the industry. There are solutions that can help the gold industry flourish again. A gold furnace using induction has all the characteristics that can help save costs and increase profits – something that has become very important in recent years. Contact us for services in Canada, United States, Mexico, Central and South America.