Difficult Times For Mining Industry As Pms Drop & Costs Rise

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Author	Replies: 2 / Views: 1,257
Joe2007 Pillar of the Community United States 3843 Posts	Posted 04/17/2013 10:26 pm I found this article interesting, especially where it discusses the rising production costs of several of the larger mining corporations. An analyst quoted in an article calculates all-in, sustaining costs of producing gold at around $1,100 an ounce on average for the mining industry. Tumbling gold prices add to miners' miseries http://www.theglobeandmail.com/repo...cle11228030/ Anybody on CCF have knowledge of the mining industry and their production costs? I would expect that these costs would vary greatly from mine to mine due to varying labor costs, methods of extraction, and regulatory burdens. Report this Post to the Staff

basebal21 Bedrock of the Community 13014 Posts	Posted 04/17/2013 10:39 pm Quote: I would expect that these costs would vary greatly from mine to mine due to varying labor costs, methods of extraction, and regulatory burdens. Its exactly this. You also dont know how efficient theyve been with the large margin of error theyve had lately. But whats true for one mine isn't necessarily true for another. Gold was mined when it was 300 ounce, theyll make the adjustments and keep mining. Maybe some smaller mining companies will go out of business but production wont come to a stop Report this Post to the Staff
havanacoins Valued Member United States 214 Posts	Posted 04/17/2013 10:45 pm Interesting.. Heard that the US Mint sold a lot of Gold coins today.. Report this Post to the Staff
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