21.08.2013 - The four-year gold curse
Very interesting comments this month from one of the gold industry's biggest players. Gold Fields CEO Nick Holland was quoted in South African newspapers talking about problems faced by the precious metals sector. Primarily costs. It's always interesting hearing from professionals on the "front line" of the business. And Holland's comments were particularly surprising and revealing. He went on record saying that both the South African gold and platinum sectors are "under water" at current prices. Not making profits. Forcing the shut-down of mines. The really interesting part was the pace of cost inflation seen by the CEO. Holland said that costs for the South African precious metals sector are doubling every four years...............................................Full Article: Source
Print