Australian gold mine costs drop by US$180/oz in 2015 Report

Insight 17 December 2015

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Report summary

The average total cash cost plus sustaining capex (TCPS) for Australian gold miners has fallen in 2015 by US$180/oz, compared to the previous calendar year. The Australian weighted average gold TCPS unit cost is now estimated at US$830/oz, down 18% from US$1,010/oz in 2014. The depreciation of the Australian dollar has had a major impact in lowering US$ denominated costs, accounting for US$165/oz of the decrease; however, cost reductions have also flowed from savings in direct site production expenditure which fell by US$38/oz.

Executive summary
2015 cash costs
Cost reduction drivers
Outlook

Tables and charts

This report includes 7 images and tables including:

Chart: Australian gold cost curve (total cash cost plus sustaining capex) 2015
Chart: Breakdown of change in 2015 Australian gold TCPS cost
Australian gold mine costs drop by US$180/oz in 2015: Image 3

Australian gold mine costs drop by US$180/oz in 2015: Image 4
Table: Australian gold direct cash production cost (per tonne)
Table: Australian gold mine strip ratio, head grade and recovery (2015 versus 2014)
Chart: 2016 Australian gold cost curve (total cash cost plus sustaining capex) 2016