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Tuesday, 8th February 2005 (3999 views)

The gold mining industry is looking to boost the demand for the yellow metal by promoting its use in industrial items.<br/><br/>Over the next decade, it is hoped the precious metal's use in industrial items can be increased by over 50 per cent, according to Reuters.<br/><br/>Moves could see the metal used in air cleaning devices, gas masks and as a superconductor in electrical gadgets.<br/><br/>Addressing people attending the Indaba mining conference in Cape Town, David Thompson, from the World Gold Council, said: "New markets based on new technologies for gold will lead to significant new demand."<br/><br/>At present most gold is used to produce jewellery, with 80 per cent of the 4,142 tonnes consumed in 2003 used to make rings, necklaces and watches.<br/><br/>However, gold used in industrial applications made up just 12 per cent or 500 tonnes.<br/><br/>South African research group Autek discovered the new uses for gold and Mr Thompson believes they could lead to an extra demand of 280 tonnes in a decade for the industry.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7754202"/>

 

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