Since 2005, gold production worldwide has steadily risen from 2,470 metric tons to 2,700 metric tons, according to the U.S. Geological Survey. Many analysts expect this trend will continue in 2012. However, production and labor costs are causing worries in the mining industry and could threaten to slow production. Soaring gas prices have stunted profits for many of the world’s largest mining companies like Barrick Gold (ABX.TO) and Newmont Mining (NEM.T), who have been forced to put a hold on some new projects and struggle to find affordable, skilled labor.
LIGNET provides you with actionable intelligence and in-depth analyses from seasoned insiders including senior CIA officials, presidential advisors, ambassadors, and more.