Loss Prevention In The Processing Of High-Value Materials

High-value materials, such as gold, platinum and other precious metals, are subject to loss through unauthorized removal from mines, smelters, refiners and other places where such materials are processed. A study by Gastrow (2001) determined that between 1994 and 1998 an average of 603 kg/a (1,330 lb/year) of gold was stolen from South African mines and subsequently recovered. This does not include the gold that was stolen but not recovered. At 2011 prices, 603 kg/a (1,330 lb/year) of gold would be worth approximately $33 million. Mine security personnel believe that the unrecovered stolen gold far exceeds what is recovered (Gastrow 2001). Traditionally, metal detectors have been used to screen personnel leaving secure areas to discourage such unauthorized removal. However, with the current near-record prices of gold, platinum and other precious metals, it has become worthwhile for people exiting a facility to walk out with quantities of product that are too small for ordinary metal detectors to register, resulting in substantial financial losses.