As the gold price drops again this week and producers’ margins are squeezed, the need to contain costs and increase efficiency becomes ever more critical to gold mining company executives.
The infographic below (created by Visual Capital) explores the costs of producing gold. It outlines which continents are the most economic and examines which major producers are ahead of the competition to lower their costs. There is also an itemised breakdown of the various costs associated to mining gold and an overview of the largest gold reserves globally.
At recent Mines and Money events, much focus has been given to this topic and in Hong Kong, Charles Jeannes from Goldcorp presented a keynote which centres around how Goldcorp is reinforcing capital discipline. Greg Robinson, CEO of Newcrest Mining also presented at the event and you can watch his presentation here. While some of the environmental factors may have changed since their presentations were made, both focus heavily on their companies’ strategies to control costs, increase efficiency and report costs back to shareholders in a transparent manner.
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