Gold Mining Companies Prefer the U . S .
and investors have approved these reporting metrics , not everyone is sold .
Randgold Resources ’ ( Lon : rrs ) ceo , Mark Bristow , slammed the reporting tool saying Asic was just “ jiggery-pokery .”
“ Why does the gold industry have to be different ? What ’ s the reason ? It ’ s because we are not profitable , so we try to make ourselves look profitable ,” said Bristow .
He added that the gold mining company that had originally promoted and adopted the Aisc concept by the WGC had since resigned from the council .
Going for the gold So why is gold so much cheaper to produce in the Americas ? The consensus is generally associated with third-world countries and their economy .
Treadgold cites two major companies and their way of thinking behind the US being a better destination for gold mining .
“ Cliffs Natural Resources and Apache Corporation have been targeted by activist funds demanding the sale of high-cost , low-profit , assets in Australia with Cliffs under pressure
Randgold Resources ’ CEO , Mark Bristow , has publicly critised the foundation of AISC
to sell an iron ore mine in Western Australia and Apache planning to sell a 13 % stake in a big Australian liquefied natural gas project being developed by Chevron Corporation .”
Many investors have spotted the value gap developing between international mining and oil operations and those in the United States . And many of them are selling off their international assets to reinvest the capital back into U . S . based projects . Why ? Simply put , the United States has become the go-to destination for gold mining companies .
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