Namely, despite higher gold prices received in 1H 2018, a gross margin delivered by one ounce of gold sold on the market was only slightly higher than in 1H 2017.
Gold mines produce rough gold, called a dore bar. These bars are typically about 80 percent pure gold. The gold is then sent to a refinery, where it is refined into gold of different forms and purity.
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Cost of sales applicable to gold per ounce is calculated using cost of sales applicable to gold on an attributable basis (removing the noncontrolling interest of 40% Pueblo Viejo and % Acacia from cost of sales), divided by attributable gold ounces.
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Las Bambas; Las Bambas website; Las Bambas is a large, longlife copper mine located in Cotabambas, Apurimac region of Peru. Las Bambas is a joint venture project between the operator MMG (%), a wholly owned subsidiary of Guoxin International Investment Co. .
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