The true cost of producing an ounce of gold | Provident
· Mining costs were grossly underestimated up through the 1990s. Companies would report "cash costs" on their financial statements, which measure the costs specifically tied to extracting gold from the ground. These costs ran from 500 to 800 per ounce, depending on the loion of the mine. But these cash costs failed to consider the expense of running a company, buying and repairing ...