Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Kirkland Lake Gold Ltd. T.KL

Kirkland Lake Gold Ltd is a Canada-based gold mining, development, and exploration company with a diversified portfolio of exploration projects. The production profile of the company includes the Macassa mine complex located in northeastern Ontario and the Fosterville gold mine located in the State of Victoria, Australia. Also, the company owns the Holt mine and the Detour mine. The company's mines and material mineral projects are located in Canada and Australia.


TSX:KL - Post by User

Post by llihevad1on Sep 10, 2021 5:46am
297 Views
Post# 33838629

lowest cost gold mines in Q1 2021

lowest cost gold mines in Q1 2021

World's lowest cost gold mines in Q1 2021 - report

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Barrick's Long Canyon mine in the United States was the lowest cost gold operation worldwide in Q1 2021 measured by AISC.

Kitco looked at costs at operating primary gold mines globally in Q1 2021 using all-in sustaining cost (AISC) metric that serves as a globally accepted benchmark of a mine's operating efficiency.

Primary gold operations are defined by Kitco as "mines where gold contributed to 90% or more of revenues from operating activities". The ranking excludes privately-owned mines and tailings re-processing operations.

Barrick's Long Canyon gold mine located in Nevada, USA, was the lowest cost gold operation worldwide in Q1 2021. In Q1 2021, Long Canyon's AISC of $156/oz decreased by 72% compared to Q1 2020 primarily due to a significant increase in leach pad inventory ounces, which has lowered the cost per ounce, and decreased minesite sustaining capital expenditures.

Kirkland Lake's Fosterville mine in Australia sits second with ASIC of $423/oz reported in Q1 2021. Fosterville's AISC increased 35% compared to Q1 2020 primarily due to a significantly higher business volumes with tonnes mined and milled considerably higher than in Q1 2020, as well as the impact of a significantly stronger Australian dollar in Q1 2021 versus Q1 2020.

Polyus' Olimpiada mine in Russia is third with its AISC demonstrated a decline of 31% to $458/oz in Q1 2021 because of lower sustaining capital expenditures compared to Q1 2020.

Another Polyus' Blagodatnoye mine in Russia is fourth with AISC of $542/oz in Q1 2021. Blagodatnoye's AISC was higher 11% compared to Q1 2020 due to a temporary decline in average grades in ore processed, as well as a decrease in the recovery rate.

Another Polyus' Verninskoye mine, also located in Russia, sits fifth with AISC of $566/oz in Q1 2021, virtually unchanged from Q1 2020. 

The complete list is on the chart.

World's top 10 lowest cost gold mines in Q1 2021

https://www.kitco.com/news/2021-09-09/World-s-lowest-cost-gold-mines-in-Q1-2021-report.html
<< Previous
Bullboard Posts
Next >>