Romarco Minerals Inc. reopened the historic Haile Gold Mine near Kershaw, S.C., this year and expects to pour its first gold bar there in early 2014, Chief Executive Diane Garrett told Reuters this week.

Once environmental impact studies and permits are complete, Haile will be the only modern gold mine east of the Mississippi River, Garrett said, and the first since the Kennecott Minerals mine closed in Ridgeway, S.C., in 1999.

Based on the proven gold reserves found in samples, the Toronto company estimates it has 3.1 million ounces of gold at Haile. The mine will produce an average of 150,000 ounces of gold a year for five years, according to its website.

via South Carolina mine sparks mini-gold rush to the Southeast | Reuters.

So, let’s say that they can extract all 3.1 million ounces of gold. That sounds like a lot. At today’s prices that’s some $5 billion or so. So it’s a good chunk of money, to be sure. And prices are likely to continue to go up, so figure it’s probably $7 or $8 billion by the time they finish mining it.

How much actual gold is that?

Well, according to my back-of-the-envelope calculations, it’s roughly a cube of gold five and a half feet on a side. To put it another way, all that gold would probably fit under your dining room table.