Last year, rising prices enabled the world’s top gold producers to increase revenues or cash flow as total gold output dipped again
By Jesse Morton, Technical Writer
The 2017 total gold output from the world’s top pure-play gold miners1 fell just under 1% year-over-year (yoy). On average, they mined slightly more but processed less ore. This happened while, for the second year in a row, real interest rates remained negative, costs remained relatively low, and the average price received per ounce (oz) rose. Such results gain meaning when, along with the box scores and year-end recaps, the miners report satisfaction with the numbers, with most either meeting or beating their 2017 guidance and some posting a profit for the year.
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