Video News/Kitco Mining

Gold prices surged near $2,800 an ounce, supported by central bank buying and geopolitical tension, while inflation pressures have sent mining costs soaring. John Ciampaglia, CEO of Sprott Asset Management, told Kitco Mining’s Jeremy Szafron that all-in-sustaining costs (AISC) for miners have jumped 50% since 2020, with energy and labor inflation driving up expenses. Ciampaglia discussed the U.S. election’s potential impact, noting that a Trump administration might ease regulatory pressures, while a Harris administration could tighten them. He also highlighted growing competition for critical minerals like lithium, copper, and uranium, which are in focus for both industry and national security.