Thu, Jan 29, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Gold bear market hits hardest in South Africa mines: Commodities

Posted on 26 June 2013

No one has more to lose from gold’s bear market than South African producers as workers digging in the world’s deepest, costliest mines threaten to bring them to a standstill unless pay is more than doubled.
A record quarterly drop in the metal to as low as $1,270 an ounce is already below production and capital spending costs at Sibanye Gold Ltd. (SGL), Harmony Gold Mining Co. and Gold Fields Ltd. (GFI), figures compiled by Bloomberg show. Harmony’s South African output costs are the highest of the world’s 12 biggest producers by volume, according Bloomberg Industries………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 39021 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
January 2015
S M T W T F S
« Dec    
 123
45678910
11121314151617
18192021222324
25262728293031