Rising Usage of Sodium Cyanide in the Mining Industry to Drive the Global Sodium Cyanide Market
Added: (Mon Jan 14 2019)
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Sodium cyanide is a water-soluble inorganic compound manufactured by treating hydrogen cyanide with sodium hydroxide at an elevated temperature. The compound is highly poisonous and remains stable at high temperatures in complete absence of carbon dioxide, air, and moisture. Sodium cyanide is widely used in gold mining, due to its high affinity toward metals. In addition, it is employed in other industries such as electroplating, agrochemicals, pharmaceuticals, ore extraction, dyes, cleaning metals, and chelating agents.
The global sodium cyanide market has been segmented in terms of type and end-user. In terms of type, the market has been divided into solid sodium cyanide and liquid sodium cyanide. In terms of end-user, it has been segmented into mining, chemical, pharmaceutical, textile, and dyes & pigments. Mining is the leading end-user segment of the market. Expansion type of mining projects such as expansion of the Eastern Dragon mine in China and new exploration projects for production of gold such as the Blackwater project and the Rainy River project in Canada are raising the demand for sodium cyanide in the mining industry.
Rising usage of sodium cyanide as a reagent in the mining industry for separation of precious metals is one of the important factors driving the sodium cyanide market. Mining waste containing sodium cyanide during its use in mining operations may cause serious damage to the environment. This, in turn, is likely to restrain the sodium cyanide market during the forecast period. In addition, numerous regulations with respect to use of sodium cyanide are hampering the market. Fluctuation in gold prices has pushed several gold-mining companies to invest in new technologies, typically in exploration projects, in order to extract high-quality gold and silver. This is likely to offer growth opportunities to players operating in the sodium cyanide market in the next few years.
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