A US entrepreneur who claims to have discovered a new, more efficient and environmentally friendly process to recover gold is looking for partners in South and East Africa.Anastasios Morfopoulos, who has established a company called New Gold Recovery and attracted New York-based hedge fund UniCore Group Capital as a 20% shareholder, has discovered "certain nano-particles that demonstrated a natural affinity for gold and other precious metals". This technique, Morfopoulos says, can recover more than 90% of the gold in alluvial deposits.SA has very little alluvial gold, but Morfopoulos believes his technology, which has been independently verified by Bureau Veritas Group and Global Mineral Research, could also help to improve recoveries from gold in hard rock.Traditional gold extraction methods range from inefficient and potentially lethal methods, such as panning alluvial deposits or crushing hard rock and adding mercury to it, usually practised by artisans, to large-scale, more effi...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now