Gold’s recent rally has boosted the prospects of cyanide producers as they increase production to meet rising demand for chemicals to process the metal.
Two of the largest suppliers of sodium cyanide, which is used to leach gold specks from crushed rock, said they had rapidly expanded production on the back of rising gold prices and increased mining activity.
Orica, which acquired US rival Cyanco for $640mn last year, plans to accelerate production as North American operators look to restart mothballed gold mines, said Andrew Stewart, head of Orica’s speciality chemicals division.
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