Mining News
Lowest cost gold mining companies in 2022 - report
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(Kitco News) - The following is the list of the top 10 lowest cost gold mining companies in 2022 calendar year among the top 20 largest primary gold producers worldwide measured by output.
The ranking used all-in sustaining costs (AISC) metric that serves as a globally accepted benchmark of a mine’s operating efficiency.
Australia’s Evolution Mining was the lowest cost gold producer among the top 20 largest gold miners in 2022, with AISC of $849/oz (including by-product credits).
Endeavour Mining sits second. The company’s consolidated AISC from continuing operations amounted to $928/oz in 2022, an increase of 7% over 2021, primarily due to the industry-wide inflationary pressures.
With AISC of $981/oz, Russian gold miner Polyus is third. The company's AISC increased by 37% y-o-y compared to 2021 ($715/oz), primarily due to lower average grades in ore processed at almost all hard-rock deposits.
Polyus also noted that the consumables prices inflation, wage indexation, and rouble appreciation have also negatively impacted the company’s cost performance in 2022, and those factors were common to all operations of the group. In addition, AISC were impacted by higher sustaining capital spending and lower gold sales volumes.
Newcrest sits fourth with AISC of $1,021/oz (including by-product credits) in 2022.
B2Gold is fifth with total AISC (including estimated attributable results for Calibre) of $1,033 per ounce sold in 2022, within the company's guidance range of $1,010 to $1,050 per ounce sold and 16% higher than 2021 due to lower production and inflation driven higher input costs, including higher fuel unit prices and other consumables prices.
The complete list is on the chart.
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The world's top 10 largest gold mines in 2022 - report |
