Half of gold output may not be 'viable' as price sags, Randgold CEO says

Section:

No matter -- the gold mining industry has coridally agreed to die quietly so as not to upset central banks.

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By Danielle Bochove
Bloomberg News
Friday, November 27, 2015

Half of the gold coming from mines may not be viable at current prices, underscoring the industry's need for consolidation and output cuts, according to the best-performing producer of the metal in the past decade.

"The more we continue to produce unprofitable gold, the more pressure we put on the gold price," said Randgold Resources Ltd. Chief Executive Officer Mark Bristow. "In the medium term, it's a very bullish outlook for the gold industry. The question is: How long are we going to supply it with unprofitable gold?" ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2015-11-27/half-of-gold-output-ma...



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