20.08.2013 - Gold costs more to bring to the surface than its selling price: Industry CEO
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
Print