The paper summarises the theoretical and experimental studies which led to the development of new industrial equipment designed to recover liberated gold from placer gravity concentrates. The new technology is based on environmentally clean magnetic methods, which avoids use of mercury in the production process and obtains higher gold recoveries compared to the amalgamation technique, and which can reach 98.6 - 99.5 per cent. The complex of equipment thus developed is now commercially used at nine Russian gold mining operations. Six more such complexes are due to come on stream in 1993, some of them outside the CIS. The new technology appears to hold much promise for the recovery of precious stones (diamonds, rubies etc) semi-precious stones (pyropes, chrysolites etc) and also artificial diamonds, for which case there are encouraging laboratory results.