the world glod costs” and “all-in costs”
metrics, which gold mining companies
their overall reporting disclosure. The
World Gold Council has worked closely
with its member companies to develop
these non-GAAP measures which are
intended to provide further transparency
into the costs associated with producing
gold.
It is expected that these new metrics,
“all-in sustaining cost” and the “all-in cost”
will be helpful to investors, governments
,
local communities and other stakeholders
in understanding the economics of gold
mining. The “all-in sustaining costs” is an
extension of existing “cash cost” metrics
and incorporate costs related to
sustaining
production. The “all-in costs” includes
additional costs which reflect the varying
costs of producing gold over the life-cycle
of a mine. It is up to individual companies
to determine how they report to the market
and to decide whether their stakeholders
will find these new metrics of value in
understanding their businesses; it is
expected that, since many companies
report on a calendar year basis, they may
choose to use these metrics from 1
January 2014.
. All companies involved in gold-mining,
including those which are not Members of
the World Gold Council, will be free to
use
these metrics. Individual companies have
responsibility for their own reporting, but
we expect that many will use these new
metrics, providing further consistency for
investors and other stakeholders”