Gold costs were about $317 per troy ounce in 2007, but these can vary widely depending on mining type and ore quality; global mine production amounted to 2,471.1 tonnes. After initial production, gold is often subsequently refined industrially by the Wohlwill process which is based on electrolysis or by the Miller process, that is chlorination in the melt. The Wohlwill process results in higher purity, but is more complex and is only applied in small-scale installations. Other methods of assaying and purifying smaller amounts of gold include parting and inquartation as well as cupellation, or refining methods based on the dissolution
Commodity currency on these harmful processes reducing their affiliated externalities. Countries with commodity currencies have difficulty changing their behaviors and reducing externalities with respect to the commodities that have a profound impact on their currencies. For example, the Canadian dollar is closely tied to soybeans and oil. The production of oil is extremely harmful to the environment however reducing its production through Cap and Trade programs or production taxes can be devastating to the Canadian Dollar. Commodity currency A commodity currency is a name given to some currencies that co-move with the world prices of primary commodity products, due to these countries'