Precious Metals

Top 10 Skills in Precious Metals Industry in 2023

The Mintly Team

The Mintly Team

February 02, 2023
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Precious metals come in a variety of different shapes and sizes; Gold and Silver being the most common. They are one way to diversity an Investor’s portfolio. This industry has been growing steadily post-covid. With the geo political changes, Russia-Ukraine war, precious metals has caught the attention of the investors.
Gold, often compared with Crypto currency, has been sold to consumers in physical and digital format. With the advent of Technology, this industry is going through digital disruption

Silver, platinum, and palladium are all commodities that can be added to your precious metals portfolio, and each has its own unique risks and opportunities. In addition to owning physical metal, investors can gain access through the derivatives market, metal ETFs and mutual funds, and mining company stocks.

New age work force is getting into this industry in Software, Automation and technical roles. Below are the list of Top 10 Skillsets that are in demand in this industry.

1.Mining Engineer

Mining engineers are in high demand in many parts of the world due to the increasing demand for natural resources. These engineers are responsible for finding and extracting valuable minerals from beneath our earth’s crust. They also oversee and manage the safety of operations related to mining, as well as research ways to improve the efficiency of these operations. As with any profession, salary is an important consideration when considering a career in the field of mining engineering.

Mining Engineering - Wits University

Mining engineering is a field that involves designing, constructing and supervising the entire development of mines. Mining engineers are responsible for ensuring that minerals are extracted safely and efficiently from the earth. They work with geologists to determine the best methods to extract ore, as well as create plans outlining safety protocols and design systems for optimal extraction. Mining engineers also examine geological surveys to locate potential mining sites and recommend sites for further exploration.

Jobs for Mining Engineer  are available across North America, African, Australia and Parts of India.

2. Refinery Operator

Refinery operator jobs are an important part of the mining industry. Refining is a process that takes raw materials from the earth and turns them into useful products. Working as a refinery operator requires knowledge of process control systems, safety procedures and chemical engineering principles. It also involves troubleshooting, maintenance and monitoring of production operations. Qualified refinery operators can enjoy excellent wages and benefits in addition to job satisfaction from their work in this growing industry.

What Are Precious Metals and How Do You Trade Them? | IG International

3.Precious Metal Broker

Precious metal brokers are a specialized type of stockbroker who focus on trading and investing in a variety of precious metals. Their jobs involve researching, managing and executing trades and investments in gold, silver, platinum and many other metals. These professionals must have an extensive knowledge of the market dynamics that drive the prices of these commodities, as well as the ability to accurately analyze trends and make sound decisions based on their research.

4.Precious Metal Quality Control Specialist

Precious metal quality control specialist jobs are some of the most sought-after positions in the manufacturing industry. Quality control is essential to any business that works with precious metals, and those who specialize in this field can expect to be well-compensated for their expertise.

QC specialists play a key role in the metals industry, helping to maintain product integrity and consumer trust. To become a QC, these specialists must have a deep knowledge of precious metals and their properties, as well as advanced analytical skills.

Electroplating quality control is a critical factor in operations and success in the process of electroplating precious and semi-precious metal finishes.

5. Software Engineer

Software Engineers are in high demand in the precious metals industry, as they play a key role in developing and maintaining state-of-the-art software solutions. From mining operations to refineries, software engineers help streamline processes by designing and building reliable systems that integrate easily with existing technology. They also work closely with stakeholders across multiple divisions to ensure that their software is tailored to specific needs, while also providing support and training whenever needed.

Software engineering is an ever-evolving field that involves the use of computers and coding to create programs that can automate processes. Software engineers are in high demand due to the increasing reliance on automation and technology within businesses. With the rise in automation, software engineers are tasked with creating cutting-edge programs that can streamline processes involving precious metals. As such, software engineers must have a deep understanding of software development and programming principles in order to be successful.

6. Cybersecurity Specialist

Cyber security is a rapidly growing field of technology, and the need for Cyber Security Specialists is on the rise. Skilled in protecting valuable data, storage systems, and even precious metals, these professionals are vital to maintaining the safety of any organization’s assets. Cyber Security Specialists must stay up-to-date with the latest security trends in order to identify and prevent cyber attacks from occurring.
The operation of mines rely more and more on digital systems that optimize productivity and minimize health and safety risks. And as distributed control systems become ever more critical to the operation of a mine, so does the need to protect these systems from interference. Cyber Security professionals create the framework to implement the security measures for these mines.

7. Data Scientist

Data science and the analysis of precious metals have become increasingly important in recent years, and the demand for qualified data scientists has skyrocketed. With the emergence of new technologies, data scientist jobs are more in-demand than ever, offering exciting opportunities for individuals looking to explore this field and create a career out of their passion. Aspiring data scientists must possess a wide range of skills, including knowledge of programming languages, mathematics and statistics, as well as an understanding of business operations.

Precious metals were traditionally considered as inflation hedging tools and they also served as “safe haven” against stocks market crash. Past researchers have used Artificial Intelligence (AI) systems to try to predict precious metals price trends. Data Science has been heavily used in building algorithmic trading systems for intra day futures in particular metals futures.

8.Precious Metals Sales Associate

Sales associates are an integral part of the precious metals industry. They are involved in assisting customers with their purchases, providing knowledgeable advice about purchasing decisions, and ensuring customer satisfaction. Sales associates must have strong product knowledge in order to provide accurate information about the products they are selling. They also need to be good communicators in order to build relationships with customers and understand their needs. Additionally, sales associates must possess excellent customer service skills to ensure the satisfaction of all buyers.

Many Precious Metals Trading or Advisory firms, hire Sales Professionals. The sales role generates incremental sales and supports field sales initiatives via sales lead qualification, relationship building, account maintenance, and independently closes sales that do not require a field visit.

These Sales Professionals are involved in Generating Sales, New lead Qualifications and Account Maintenance. Understanding the Refining Volume, Refining Streams or Potential Referral base are major activities.

9. Refinery technician

Refinery technicians are essential to the production and refining of precious metals. Refineries rely on highly trained professionals to ensure that the metals they produce are of the highest quality.  Refinery technicians possess a unique set of skills and knowledge, enabling them to work efficiently with complex machinery and processes. These technicians must also be able to troubleshoot any technical problems that may arise during the production process.

Refinery Technicians work on Precious Metals to Install, maintain, or repair hoses, pumps, filters, or screens to maintain processing equipment, using hand tools. Assemble fittings, valves, bowls, plates, disks, impeller shafts, or other parts to prepare equipment for operation. Connect pipes between vats and processing equipment. As of Jan 17, 2023, the average annual pay for a Refinery Technician in the United States is $54,909 a year.

Precious Metals Market - Global Industry and Forecast (2022-2029)

10.Precious Metal Consultant

A Precious Metal Consultant is an invaluable resource for those in the mining industry. These experienced professionals specialize in verifying and testing precious metals such as gold, silver, platinum, and palladium. They are trained to use specialized tools to assess the quality of precious metals and provide accurate results. With their expertise, they can help jewelry makers, retailers, and even individual buyers make informed decisions about their purchases.

Precious metals have been used for centuries as a form of currency, investment, and aesthetic beauty. As the precious metals industry continues to grow in importance, so too does the need for expert advice and consultation. A Precious Metal Consultant is one such professional who works with individuals and businesses to help them make informed decisions about their investments in precious metals. They possess extensive knowledge of the industry, staying up-to-date on current market trends and developments.

Companies in Mining sector hire Consultant for trading and identifying the new markets for the business. Having previous experience in Mining or Trading Precious metals will be advantage.

Looking to get into Precious Metals Industry? Speak to our HR Experts who can guide for your career growth.

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