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Figure of the month: 120

News Arnulf Hinkel, financial journalist – 01.04.2022

Although gold was mined in the Austrian Rauris Valley from the High Middle Ages until the 20th century – i.e. for more than 1,000 years – experts estimated that there is still more than enough minable gold there. Assuming a gold content of 10.6 grams per mined tonne of ore, at least 120 tonnes of the precious metal still remain completely untouched in the so-called Goldberggruppe. This is remarkable, considering the fact that at the height of gold mining activity in the region around the year 1550, more than 450 mines were in operation. Today, the Rauris Valley is primarily a tourist attraction where gold plays an important role.

“The calf is out – the cow still inside, in the mountain”

This proverb of the miners’ guild in Rauris describes the situation of the Goldberggruppe today, as in fact far more gold remains within the ore there than has been mined for over a millennium. In 1984, there were efforts to resume gold mining, which had come to a halt many decades before. According to experts, it should be possible to mine 100 tonnes of gold over 20 years. However, the inhabitants of Rauris and their political representatives feared severe damage from the use of the highly toxic sodium cyanide, which was still common at the time. The expansion of the tourism business in what is now a nature reserve was thus pushed ahead instead.

Gold panning for the entire family – as well as for pros

In addition to gold exhibitions and old mines, the Rauris Valley offers visitors the opportunity to learn how to pan for gold. The Rauris Tourist Association promises that anyone can become “loaded – with rocks” here, because it is easy to come by ore. But there is also plenty on offer for professionals. In the 1980s and 1990s, the Rauris Valley even served as the venue of the World and European gold panning championships. This should come as no surprise, since there really is gold to be discovered. The family-friendly gold panning sites are open this year at Whitsun and from mid-June to September.

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