Wednesday, April 24, 2013

Gold mining becomes unprofitable


Newcrest Mining is reviewing the future of some of its mines, as the recent plunge in the gold price continues to take a toll on the nation's fourth-biggest mineral export industry.

Newcrest was one of several ASX-listed goldminers to reveal March-quarter results on Tuesday, and the publication of production costs revealed that numerous mines across Australasia are unprofitable at current gold prices.

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