Define: Assay Ton

Assay Ton
Assay Ton
What is the dictionary definition of Assay Ton?
Dictionary Definition of Assay Ton

Assay Ton is a unit of measurement used in the mining industry to express the amount of precious metal contained in a given quantity of ore. It is equal to 29,166.67 grams or 1,000 troy ounces of metal per ton of ore. The term “assay” refers to the process of analyzing the ore to determine its metal content. The Assay Ton is commonly used in the valuation and trading of precious metals such as gold, silver, and platinum.

Full Definition Of Assay Ton

An assay ton is a unit of measurement used in the mining industry to determine the amount of precious metal contained in a sample of ore. It is typically defined as 29.166 grams, although this can vary depending on the specific regulations and standards of the jurisdiction in which the assay is being conducted. The assay ton is used to calculate the percentage of valuable minerals in the ore sample, which is important for determining the economic viability of a mining operation.

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This glossary post was last updated: 29th March 2024.

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