Is gold prospecting profitable?

Yes, some do. Large, multi-million dollar corporations do turn huge profits from mining, but they also have to spend massive sums of money to get their gold. There are also small-medium mining operations in remote parts of the globe such as Central America, Asia, and Africa.

Do all rivers have gold?

Gold exists in extremely diluted concentrations in both freshwater and seawater, and is thus technically present in all rivers. However, the concentration is very small, difficult to detect and its extraction is not currently feasible or economically profitable.

Can an individual own a gold mine?

In case the land is owned by the state, the minerals would be owned by it, not if the land belongs to an individual. In that case, the court said, it belongs to the individual who could lease it to the state for mining in return for royalty and so on under the MMDR Act or mine it himself with a licence from the state.

How much money do you need to start a gold mine?

Opening a mine and separation plant can cost from $500 million to $1 billion, depending on the location, element, ore grade, and a variety of other factors (Schuler, 2011).

Can you make a living looking for gold?

Yes you can but mining is like any other trade when you want to make money. You need to learn the trade in fact best be in the top 20% to have a good living. This is not college but some could be, mostly it is research and finding a good location and knowing how to develop and then extract gold from your mine.

How deep do you have to dig for gold?

The depth of the deposit is crucial And for the mineralisation to be as long as possible, the deposit must be deep — 3 km from the surface — to guarantee a certain degree of insulation and a long magma life.” Chiaradia observed that less than 1% of the gold is captured in the ores in the deep copper-rich deposits.