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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)

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