Cyanide shortage threatens gold mining output worldwide

A global cyanide squeeze is rattling gold miners right as record bullion prices push them to crank up output.

Gold boom drives chemical crunch

• Sodium cyanide underpins over 90 percent of gold extraction.
• Higher prices pushed miners toward lower-grade ore needing more chemicals.
• Usage can reach 1.5 kilograms per tonne in tougher deposits.
• Draslovka has already sold out its entire 2026 production.

Pressure on South African producers

• South Africa relies heavily on imports for sodium cyanide.
• Harmony Gold faces tighter margins if supplies tighten.
• Costs run about 1.50 to 2.00 dollars per gram recovered.
• Deep, aging mines feel extra strain from rising input prices.

Global demand outpaces supply

• Market volume is forecast at 1.31 million tons in 2026.
• Mining accounts for more than 86 percent of total consumption.
• Expansion in Ghana, Burkina Faso, and Peru absorbs fresh supply.
• Demand could rise 50 percent from 2025 levels.

Environmental risks and alternatives

• Cyanide spills threaten waterways despite strict handling codes.
• The International Cyanide Management Code guides safer mining practices.
• Some firms promote non-toxic substitutes for gold leaching.
• Scaling greener options requires major investment and time.