The mining newspaper for Alaska and Canada's North

Replacement cost of gold startles

CIBC Markets estimate combines various costs, capital, overhead and taxes with production costs to average US$1,500 per ounce

I finally found something I have been thinking about for a long time but had not seen discussed in detail. We have all seen summaries of the declining rate of discoveries for new mineral deposits and have heard about the steadily increasing cost of production, now at a record US$727 per ounce, according to GFMS' Gold Survey 2012.

What I really wanted to know was the replacement cost of an ounce or...


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