Screen Shot 2014-04-23 at 1.54.13 PM

What is the Cost of Mining Gold?

Cost of Mining Gold infographic

We’ve analyzed the Top 50 Gold Mines to find the cost per ounce of gold by continent. The top 50 gold mines alone contain more than 33.5% of the world’s gold ounces.




  • 1234567890openmind .

    I’m a new subscriber to your site. Thank you for posting this information rich article. I’ll be referring to it and your five part series a lot in the coming days and weeks. If I may pose a question, the last time I checked (2011 or 2012 I believe) on the all-in cost to mine an ounce of Gold was between $1215 and $1250 an ounce. Do you recall seeing those figures? We saw them in a WGC report or in one of the numerous email newsletters we received during that period.

    • http://www.jeffdesjardins.ca Jeff Desjardins

      Here’s some data from Spring 2014 from Tickerscores.com:

      —–
      In the most recent quarter, the majors mostly had all-in costs ranging from $1,000 to $1,300.

      For example, Goldcorp (GG) came in at $1,072/oz, Newmont (NEM) had$1,258/oz, and Barrick (ABX) was at $1,347/oz.

      Using our data from Tickerscores, we looked at the average all-in cash cost of 32 smaller gold producers that we cover (under $2 billion market cap). It came in at $1,390/oz. Of the 32 producers, only 17 of them have a cost lower than the current gold price.

      Also, looking at more recent data it seems that most companies are able to lower their costs. However, this is usually at the expense at limiting exploration and also high-grading their deposits (only mining the highest grade parts, which means later on they will not be able to produce the same cash flow)

  • Thomas Lepere

    Your audience is wondering about the Pebble Beach, Alaska, USA mine being developed into a producing mine by 2015? It is my understanding that the precious metal mine is owned by Northern Dynasty and is about to begin producing gold & silver? What is Northern Dynasty’s current stock symbol and price? What does “Anglo American” have to do with the Pebble Beach project? Jeff Desjardins or some other expert needs to do an article update to give information from which speculative investors can reach a reliable decision to invest in the company before it begins production of precious metals in 2015.

  • 到 大

    Thanks for sharing the figures. my question is what the difference between “cash cost” and “all in cost” is?

x

Mornings are better with Visual Capitalist

Visual Capitalist Mail

Subscribe to our daily infographic!