mine

鉱山　—　People & places

The place from which metal is dug.

Caballito — A photograph of the real thing this term names.

Provisional Government 5 Pesos Note — A photograph of the real thing this term names.

As mining technology improves, output increases, and if it increases, the value of that metal falls.

⚠ A mine does not necessarily operate until it is completely exhausted. The deeper it gets, the more water seeps in, increasing the cost of drainage and ventilation. Operations cease when it is no longer profitable, so a closure is not always because "the vein ran out."

The period when a nation's coinage begins to be debased often coincides with the period when its mines become unprofitable.