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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (29239)	3/1/1999 12:23:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116762

<<I wonder where they are cutting costs---Cutting back on manpower, mining only hi grade, closing shaft mines, mining only open pit operations and is their cost cutting reducing production??>> all of these + lay off layers of management, close offices, consolidate / merge, produce outside the US in other than US dollar related costs.

To: lorne who wrote (29239)	3/1/1999 2:43:00 PM
From: Enigma	Respond to of 116762

lorne - I don't know how they are cutting costs, or how accurate these blanket statements are - there is no doubt that costs can be cut by the methods you mention - certainly the threshold or criteria for new deposits has changed - large size and shallow deposits - also leaching methods have changed dramatically over the last decade or so. Efficiencies of pit design too - look at the Goldstrike operation - so much is now figured out by computer, huge trucks for the ore - at Goldstrike the trucks are run by electric power. In Canada the old mines in famous camps like Red Lake and Kirkland are yielding high grade extensions and the cost of gold in $ Can and Aus is very attractive now - also in SA which is by far the largest player still. dd