North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Pebble Partnership copper gold molybdenum mine project Alaska Northern Dynasty NAK NDM

By Curt Freemen
For Mining News 

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

 

Last updated 12/30/2012 at Noon



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 ounc...



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