The Phaserl


World Top 10 Gold Miners Face Negative Free Cash Flows

by Lawrence Williams,

We are indebted again to precious metals analysis consultancy, Metals Focus, for bringing to our attention that the world’s top gold miners had moved into a combined Negative Cash Flow (NCF) position during the final quarter of last year. This is after three consecutive quarters where they had recorded positive Free Cash Flow (FCF) – that is after taking into account all elements of costs including capital expenditures.

For several years, Mineweb ran a campaign to push the gold mining sector to report FCF figures (South Africa’s Gold Fields was probably the only Tier 1 gold miner at the time which did) but eventually most have come round to so doing – helped by the relatively new reporting metric of All In Sustaining Costs (AISC), to which most big gold miners now subscribe, which gets close to reporting the FCF figure.

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1 comment to World Top 10 Gold Miners Face Negative Free Cash Flows

  • mac

    My goodness this ignores currency collapses in most countries where gold is produced…companies operating there are making big bucks in these countries in Gold sales. They have “buying” power there and labor is cheaper. Get it – Mineweb – who r u ?

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