Ill-Disciplined Gold Miners Deal Industry Loss: Chart of the Day
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Gold producers opening new mines are hurting efforts to revive industry returns following the biggest price slump last year in more than three decades, according to Randgold Resources Ltd. Chief Executive Officer Mark Bristow.
The CHART OF THE DAY shows how world output breached an annual 3,000 metric tons for the first time last year. That’s while demand dropped 11 percent to 4,080 tons and gold prices tumbled 28 percent, the biggest slide since 1981. In the first half of 2014, demand also shrank 7.2 percent from the same period a year earlier, according to World Gold Council data.