Gold Miners Come Clean on Costs After Lost 6 Years: Commodities
By Liezel Hill - Feb 27, 2013 7:56 AM ET
The gold-mining industry, which has underperformed the precious metal for each of the past six years, is pledging to report costs more accurately as part of its efforts to win back investor confidence.
Barrick Gold Corp. (ABX) and Goldcorp Inc. (G), the two biggest producers by market value, have begun reporting “all-in sustaining costs” for the first time. The new measure averaged $941 an ounce between the two companies in the fourth quarter. That’s 50 percent higher than the $626 average so-called cash cost they disclosed in the preceding three months.
more:
http://www.bloomberg.com/news/2013-02-27/gold-miners-come-clean-on-costs-after-lost-6-years-commodities.html
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