Major Disservice --Gold miners shooting themselves in the foot by telling half-baked cost story - Nick Holland

摘要

The gold mining industry was shooting itself in the foot by telling only half of the real cost story, Gold Fields CEO Nick Holland has told the Denver Gold Forum.Operating costs were increasing while yields were declining and total expenditure had grown in line with the gold price, Holland said in a 30-slide presentation.While the industry often spoke about its low cash costs and the money it was making at the earnings before interest, taxes, depreciation and amortisation level, the real measure was all-in costs, or Gold Fields' proprietary notional cash expenditure (NCE) measure, which showed the real cost rise.