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Gold costs more to bring to the surface than its selling price: Industry CEO

Posted on 20 August 2013

Producing an ounce of gold can cost roughly $1,500, even though the metal is now selling for only $1,300 to $1,400 per ounce, reported trade publication Mining Weekly on Monday.
Gold Fields Limited (NYSE:GFI) CEO Nick Holland said that “all-in” cost metrics from the World Gold Council, promoted in June, show that the global gold industry is incurring losses amid high production costs and low gold prices………………………………………..Full Article: Source


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