There are over 3 billion ounces of gold in the world's deposits. The Top 50 of these mines alone contain over one-third of the total gold. North America is the 'cheapest' place to produce gold and Africa the most expensive. Gold producer profits are getting squeezed from both directions: lower gold prices and rapidly inflating costs... ZH
Errr... Something wrong with your facts there buddy - Australia av cop is AUD$1100/oz - Mali av cop is US$300-500/oz (according to Randgold)... Maybe that's why Sprott bought BGS (gratuitous ramp) and Soros put $300M into junior miners last week... whilst Bloombuuurrrrgh pasted all over their screens that he & Paulson had 'dumped' their gold... Don't believe all you read... Or were you being sarcastic? Apols if you were...
That was a c&p job from ZH so skimmed over it. Couldn't find anything about Mali cop being so low but from Randygold's 2012 Annual Report they state "Notwithstanding the increase in costs, total cash cost per ounce for the group was US$735/oz". According to The Holy Wiki, it's the 3 Canadian companies that have the lowest cash cost- Eldorado at $483, Yamana is $525 and Barrick is $584 Never really looked into cop so chide away if I'm incorrect or whatevs. Or we can just pretend I was being sarcastic
