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SafeHaven/Richard Mills/10-11-2019
“Major gold companies are running out of reserves and every year it costs more to mine. That is causing an “existential crisis” for the gold mining industry, as executives at gold producers like Barrick, Newmont Goldcorp, Randgold, AngloGold Ashanti, Newcrest and Kinross, puzzle over how to replace their depleted reserves, where new gold will come from, and how they will deal with the rising costs of extraction.”
USAGOLD note: In-ground reserves are down 26% from their peak in 2012 due to “a dearth of new big deposits” being discovered. . . .
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