Big Four Gold Mining Nations are Rapidly Losing their Status
Source: Mineweb.com (5/21/07)
London-based gold industry publisher and commentator Paul Burton told an industry conference in Perth today that the pattern of global production had shifted away from the perceived big four producers - South Africa, the United States, Australia and Canada.
As a result, companies with good Australian projects may find themselves targeted for acquisition by global players. A factor behind this are cost and exploration pressures, and Australia is one of the countries really feeling those impacts. The gold price climbed 24% in 2006 but cash costs by comparison have risen 19% over the same period - a point of which many local delegates at Paydirt's Gold Conference are aware.