Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Eldorado Gold (TSE:ELD) announced that it hit record production in the third quarter. Its four mines—Kisladag, Jinfeng, Tanjianshan and White Mountain—produced 179,195 oz in Q3 at a cash cost of $397/oz.
The company also said that iron ore sales in the quarter totalled 170,781 tonnes at a realized price of US$122/tonne.
“We are extremely pleased that all operating mines continue to perform in accordance with plan in terms of production levels and cash operating costs, which resulted in record quarterly production for the corporation,” commented Paul Wright, President and Chief Executive Officer.
Eldorado Gold is a Canadian gold producer with six operating mines, one mine under construction and two development projects. It has operations operate in China, Turkey, Brazil and Greece.
