Visual Capitalist has analysed cash costs per ounce for the world’s top 50 producing gold mines in its latest infographic.
With immense negative pressure on the gold price, producers – now more than ever – need to get the job done cheaply.
This week has brought fresh predictions that gold will continue its current phase of decline before eventually hitting bottom.
Factors that have plagued metals miners for years – including ever-rising taxes and wages, resource nationalism, stringent environmental and safety regulations, political and community activism – show few signs of abating, and continue to drive total production costs to new heights.
For the producers, finding properties with potential for low cost production is the name of the game. Check out this great infographic to see which continents are currently home to the cheapest gold production:
Gold will keep falling, but eventually it will come to a halt. It can’t stay below production costs for too long.
And, even those production costs could decline. There are lots of factors involved.