Gold Miners are finding difficulty in mining despite producers’ exploration budgets surged more than 10-fold to $6 billion a year in the decade to 2012. The amount of gold discovered last year was down 85 percent and constantly in decline since 2006.
Gold’s had a roller-coaster year, surging as much as 30 percent before giving up the bulk of those gains. But one trend has been consistent: mining companies are finding it harder to dig up more of the precious metal.
The following charts show why, and what that means for the industry.
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