Category : Mining sector
Since the turnaround in the price of gold since Q1 2016 both sustaining and cash costs have risen with the former up a whopping 22%.
Bullion prices are set to climb because there’s been a lack of exploration and the global industry isn’t replacing the reserves it’s been mining, according to Stephen Letwin, chief executive officer at Iamgold Corp.
Canada’s Lundin Gold (TSX:LUG) has closed a $400-million financing that will help it complete the construction of its flagship Fruta del Norte gold project in Ecuador, expected to begin production in late 2019.
For 2018, the company hopes to produce 580,000 ounces, up from an estimate of 550,000-560,000 ounces.
The Cadia gold mine stop producation after a dam collapse.