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Gold miners’ earnings hurt by higher production costs

October 29, 2008 by · Leave a Comment
Filed under: Commodities News 

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I agree that if we see oil prices stablize in this $70-90 dollar area, we should see earning improve for this sector compared to the environment of $125-150 dollar a barrel oil.  Gold Fields is mentioned in this article and they are in a tougher situation because of the continuing issue of power production from Eskom of South Africa.

Release:

Two of the world’s leading gold miners reported big drops in quarterly earnings on Wednesday as soaring costs for fuel and raw materials ate into margins already narrowed by a slumping gold price.

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