By Cecilia Jamasmie
MINING.com
Gold is being mined by some of the world’s biggest producers at costs that are higher than the current price of the precious metal, several recent earnings reports have revealed.
But according to Forbes’ columnist Tim Treadgold, the one place where the trend seems to be going the opposite direction is in the U.S. “In the commodity world the value-gap is best illustrated by that universal material gold, with the cost profile of one company demonstrating why the U.S. is a preferred destination for new mine developments,” he writes.
He takes AngloGold Ashanti’s (NYSE:AU) (JSE:ANG) latest results as an example. The South Africa-based company, one of the world’s biggest gold producers, said Monday its second-quarter net loss shrank to $80 million from $2.17 billion a year earlier partly because of higher gold output.