Goldproduzenten: Totale Förderkosten ("All-in costs") verbleiben auf einem hohen Niveau

Zwar sind die reinen Produktionskosten (Cash Costs) und die All-in Sustaining Kosten (Cash Costs + Sustaining Capital) bei den Goldproduzenten in den letzten 24 Monaten teils deutlich gefallen, was vor allem auf aggressive Kostensparprogramme und eine bedeutende Reduzierung der Projektentwicklungs- und Explorations-Budgets zurückzuführen ist.

Doch die realen Gesamtkosten der Goldförderung (All-in Costs incl. Interest Payments, Impairments, AfA, Total G&A, Expansions-Budget etc) verbleiben auf einem hohen Niveau..

Ein Ausschnitt aus einem aktuellen Bericht von MarketRealist, der Bezug auf repräsentative GFMS-Daten nimmt:

AISC for gold miners 

AISC for various miners depends on the grades, efficiency, and geographical breakdown of assets. The average AISC for eight significant gold miners for 2015, as guided, is $950 per ounce compared to $900 per ounce for 1Q15. This cost excludes interest charges, impairment, and taxes. So including these charges, the margins for miners are very thin. 

As the below graph shows, Iamgold Corporation’s (IAG) AISC guidance for 2015 is the highest at $1,125 per ounce. Next is Kinross Gold (KGC) at $1,050 per ounce. In comparison, Newmont Mining’s (NEM) AISC guidance is $990 per ounce, Barrick Gold’s (ABX) is $877, and Goldcorp’s (GG) is $912. 

According to a 2015 survey by Gold Fields Mineral Services Ltd. (or GFMS), gold miners’ average all-in costs, including interest and extraordinary costs, were close to $1,208 per ounce in 2014. This excluded the impact of impairments. The average gold price was $1,260 per ounce. 

Because of such narrow margins and debt issues, Allied Nevada had to file for Chapter 11 bankruptcy in March 2015.."

Quelle: marketrealist.com, Company ARs

Link/Quelle: http://marketrealist.com/2015/06/north-american-gold-miners-currently-placed/