A. Recall that \"ore\" is a material (usually rocks or minerals) from which chem
ID: 289812 • Letter: A
Question
A. Recall that "ore" is a material (usually rocks or minerals) from which chemicals can be extracted at a proft 1. More than half of the gold mined in the U.S. is from mines in northern Nevada. These mines produced an 3.2 grams of gold per 2000-pound short ton of ore in 2012 a. Search the Internet for "New York spot gold price" in U.S dollars (USD) per ounce, and enter it here. Note that ounces NY spot gold price: of gold are always quoted in troy ounces (ozt), but some people incorrectly report it as "oz." b. There are 31.1 grams (g) in one troy ounce (ozt). How manyIgram troy ounces of gold are extracted from one short ton of average Nevada ore? Show your work. uhu o. 10 28 o2t x 3.2 c. What is the gold worth (in USD) from one ton of the Nevada ore? Show your work. o .1028 02 t d. It costs about $640 to extract 1 troy ounce of Nevada gold from the mine. So how much does it cost to mine and extract the gold from one short ton of the Nevada ore? Show your work. 1138.S e. Based on your answers in c and d above, what is the current average profit per ton of gold ore from northern Nevada?Explanation / Answer
a. The New York spot gold price as indicated is $1,347.60 per ozt.
b. One short ton is nothing but 2000 Pound
Therefore, in one short ton, 3.2 g of gold is extracted.
Converting 3.2 g to ozt,
3.2g = 3.2 / 31.1 = 0.1029 ozt
c. Since 1 ozt is valued at $1,347.6,
0.1029 ozt of gold = $1,347.6 * 0.1029 = $138.66
Therefore, one ton of Nevada ore is worth $138.66.
d. It costs about $640 to extract 1 ozt of gold, and since one short ton of Nevada ore contains 0.1029 ozt of gold,
The cost of mining and extracting the gold from 1 ton of Nevada ore = 0.1029 * 640 = $65.85
e. The current average profit per ton of gold ore from northern Nevada is 138.66 - 65.85 = $72.8