Special to The Globe and Mail
Published Friday, Sep. 19 2014
… For years, miners liked to talk about “cash costs,” the mine-level expenses of pulling an ounce of gold from the ground. … (But) cash costs left out a host of expenses, from the costs of running the company to annual spending on equipment.
The new “all-inclusive” measures attempt to solve that. The most frequently used metric, “all-in sustaining costs,” puts the cost of extracting an ounce of gold at more than $1,000 industrywide …