Question

Calculate the book value of gold in the iron meteorite Lutetia ( Science Brief 13.7.1) based on the following information: Diameter = 115 km, density = 7.90 g/cm , concentration of gold = 3 0.6 µg/g (ppm), price of gold = $12,405 per kg (Kargel, 1994).

Answer 1

Volume of Lutetita (V):

V = (4 x π x r3)/3 = (4 x 3.14 x (57.5)3)/3 = 0.7959 x 106km3

V = 0.7959 × 106 × 1015 = 0.7959 × 1021cm3

Mass of Lutetia (M):

M = Volume × Density

M = 0. 7959 × 1021 7.90 = 6.2876 × 1021g

Mass of gold in Lutetia (Au):

Au = Mass × Concentration

Au = 6.2876 × 1021 × 0.6 = 3.77 × 1021 µg

Au = (3.77 x 1021)/106 = 3.77 x 1015g = 3.77 x 1012kg

Value of the gold ($):

$ = 3.77 × 1012 × 12,405 = 4.67 × 1016

Value of the gold = $4.67 × 1016 US