Global average All-in Sustaining Costs (AISC) in the gold mining industry increased by 10% y-o-y in Q2’21, reaching US$1,067/oz. This was also the third consecutive quarter in which AISC has risen. This cost inflation is being driven by several factors, both at the mine site and at the macroeconomic level. Exchange rate movements have had a significant impact on costs. The local currencies of several major gold producing countries have strengthened against the US dollar year-on-year. The average quarterly exchange rates in Q2’21 for the Australian dollar, Canadian dollar and South African rand showed that they had ... (full story)