Precious metals production
NACE v2.0 Code: C24.41
About precious metals production
NACE code 24.41 covers the production of precious metals, a critical industry that plays a vital role in the global economy. Precious metals, such as gold, silver, and platinum, are highly valued for their unique properties, including corrosion resistance, conductivity, and aesthetic appeal. This industry is responsible for extracting, refining, and processing these valuable resources, which are then used in a wide range of applications, from jewelry and electronics to industrial and medical equipment.
Production process
The production of precious metals typically involves a multi-step process. First, the raw ore is extracted from mines or other sources, often through complex mining techniques. The ore is then transported to refineries, where it undergoes a series of chemical and physical processes to separate the precious metals from other impurities. These processes may include smelting, leaching, and electrolysis, among others, depending on the specific metal and the composition of the ore.
Production inputs
The precious metals production industry relies on a variety of inputs, including raw materials such as ores, concentrates, and scrap metal. Additionally, the industry requires specialized equipment and machinery, such as furnaces, reactors, and electrolytic cells, as well as a skilled workforce with expertise in metallurgy, chemistry, and engineering. Energy sources, such as electricity and fuel, are also essential for the various stages of production.
Production outputs
The primary outputs of the precious metals production industry are the refined precious metals themselves, including gold, silver, platinum, and palladium. These metals are then used as inputs for a wide range of industries, including 24.45 Manufacture of other non-ferrous metal products, 26.11 Manufacture of electronic components, 32.12 Manufacture of jewelry and related articles, and 86.10 Hospital activities, among others. The industry also generates various by-products, such as slag and other metal-containing residues, which may be further processed or recycled.
Revisions to 24.41
Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 24.41. The most recent 1 version of this code (24.41) is in the NACE v2.1 system:
This page shows a legacy version of code 24.41 ( NACE v2.0).
Newer versions
- NACE v2.1 (Latest revision):
Related Tariff Codes (HS / Harmonized System)
These HS codes are related to this econ code: (24.41).
Related ISIC Codes
These isic codes are related to this econ code: (24.41).
| ISIC code | ISIC Version | ISIC title |
|---|---|---|
| 2420 | ISIC v4.0 | Manufacture of basic precious and other non-ferrous metals |
Related CPC Codes
These CPC codes are related to this econ code: (24.41).
Family tree for precious metals production
graph LR
A["<a href='/classifications/nace/v2/C'>C: MANUFACTURING</a>"]
A --> B["<a href='/classifications/nace/v2/C/24'>24: Manufacture of basic metals</a>"]
B --> C["<a href='/classifications/nace/v2/C/24/4'>24.4: Manufacture of basic precious and other non-ferrous metals</a>"]
C --> D["<a href='/classifications/nace/v2/C/24/41'>24.41: Precious metals production</a>"]
C --> E["<a href='/classifications/nace/v2/C/24/42'>24.42: Aluminium production</a>"]
C --> F["<a href='/classifications/nace/v2/C/24/43'>24.43: Lead, zinc and tin production</a>"]
C --> G["<a href='/classifications/nace/v2/C/24/44'>24.44: Copper production</a>"]
C --> H["<a href='/classifications/nace/v2/C/24/45'>24.45: Other non-ferrous metal production</a>"]
C --> I["<a href='/classifications/nace/v2/C/24/46'>24.46: Processing of nuclear fuel </a>"]
%% Color coordination by level
classDef level1 color:#000,fill:#a8f9ff,stroke:#333,stroke-width:2px
classDef level2 color:#000,fill:#e0a458,stroke:#333,stroke-width:1px
classDef level3 color:#000,fill:#419d78,stroke:#333,stroke-width:1px
classDef level4 color:#000,fill:#c04abc,stroke:#333,stroke-width:1px
classDef level5 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
classDef level6 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
classDef highlight color:#000,fill:#fff,stroke:#000,stroke-width:5px
%% Apply classes
class A level1
class B level2
class C level3
class D level4
class E level4
class F level4
class G level4
class H level4
class I level4
class D highlight
%% class A level1
%% class B,C level2
%% class D,E,F,G,H,I level2
%% class J,K,L,M,N,O,P level3
%% class D highlight