30.11.2015 - Half of gold output may not be profitable: miner
Half of the gold coming from mines may not be viable at current prices, underscoring the industry's need for consolidation and output cuts, according to the best-performing producer of the metal in the past decade. "The more we continue to produce unprofitable gold, the more pressure we put on the gold price," Randgold Resources chief executive officer Mark Bristow said in an interview in Toronto on Friday. "In the medium term, it's a very bullish outlook for the gold industry. The question is, how long are we going to supply it with unprofitable gold?"..............................................Full Article: Source
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