It seems that to trap the word in the confines of its etymology is to constrict the vastness and subtleties of its meanings. Wikipedia’s take on it might be of interest http://en.wikipedia.org/wiki/Alchemy
The simple derivation from the Oxford dictionary is this: late Middle English: via Old French and medieval Latin from Arabic al-kÄ«miyÄ’, from al ‘the’ +kÄ«miyÄ’ (from Greek khÄ“mia, khÄ“meia ‘art of transmuting metals’). Though I doubt that the obsession with ‘transmuting metals’ was actually in the fundament of the word’s original usage. Does anyone know the exact translation of the Greed khemia?
Wikipedia starts with listing the three major goals of alchemy: the creation of the fabled philosopher’s stone; the ability to transmute base metals into the noble metals (gold or silver); and development of an elixir of life, which would confer youth and longevity. I think we could argue that, whether literally or figuratively, TSK engages all three activities.
The word Kimiya, Kee- Mee- yaa, in Farsi and Arabic languages both, is the mastery of the science of shifting or changing elements into other elements … which can be used to transform metals or any thing to something else. Often in mystical poetry this word is used … as the way or the path of learning the (truth) mystery behind substance/elements, that can be learned from a true accomplished master. This capacity ( Kee-mee-yaa) is often viewed by the ordinary views (focal setting) as magic or magician’s mystery, due to the different focal setting of viewing reality (substance), they do not understand or fathom how this can be possible. And when one masters this knowledge has access to the true nature of reality (substance), they have mastered the knowledge to transform any substance to any other substance …
Which reminds me of a master (Lama Mipham?) in a monastery few centuries ago, who transformed a painting (image) of a cow into a real milking cow that fed the whole monastery full in the time of famine. He had mastered the knowledge of Kee-Mee-yaa, changing elements.
‘Milking the Painted Cow’ is the title of a book by Tartang Tulku Rinpoche, where I learned about this story.