history

A History of Welsh Gold 

Wales is known for its high mineralization and especially as a Coal, Slate and Copper producing region. Dolaucothi in Carmarthenshire was one of the UKs first major Gold mining operations originally initiated by the Romans in 70 AD and finally closed in 1938..

The mines in Gwynedd, North Wales, first opened as commercial operations in the 1850s with significant development through till the late 1990s where it was finally closed due to uneconomic Gold prices and lack of investment. Since the 1850s the ‘recorded’ Gold production is beyond two hundred thousand ounces of pure Welsh Gold with Silver production being unknown but of significant amounts. Welsh Gold due to its rarity and demand has always commanded a premium to other Gold, the current price paid for 1 ounce of pure Welsh Gold is up to five times the international spot price. 

There are thirty four known mines along the exploration area with the Clogau St Davids’ mines and the Gwynfynydd mines’ accounting for the majority of the ‘recorded’ production. At the height of the Wales Gold rush there were as many as ten thousand prospectors in the area with five hundred recognised workers.
The last company to have a significant Gold Mining operation were Welsh Gold Plc who successfully mined until 1999 before abandoning the mine due to uneconomic Gold prices, at that time Gold was around $450 an ounce.