This service provides miners, financial institutions, governments and other industry stakeholders with detailed forward-looking insight into the underlying drivers of gold and PGM mine economics.

High quality independent support to investment/lending decisions, risk/reward analysis, peer group comparisons and mine benchmarking.

This Service Provides The Tools To Evaluate:

• Which mines are profitable under different market outcomes.
• The impact of different price outcomes and input cost scenarios on the future production profile.
• What gold/PGMs prices are needed for projects to generate acceptable financial returns.
• Which mines and projects present the best growth and profit opportunities.

Analysis is based on highly detailed, rigorous mine-by-mine analysis of production costs, broken down to $/tonne mining, ore processing and on-site administration costs, smelting and refining costs, plus benchmarking of fuel, power, labour productivity and other key inputs. The study includes forecasts of mine production, operating costs and cash flows to 2030. Based on a stringent methodology, this service is based on “bottom-up” analysis of mine productivity, energy use, mining and processing costs, making it ideal for asset benchmarking purposes.

Thomson Reuters GFMS supplements research with mine visits in order to gather technical and operating data.

• Besides an in-depth production cost breakdown, revenues, margins and forward-looking cash flows are presented for each operation;
• Global coverage: Analysis of over 350 mines and projects; over 250 operating gold mines, each with annual gold production greater than 50koz, plus around one hundred projects (Gold Mine Economics).
• Global coverage: Analysis of over forty operating PGM mines in South Africa, Zimbabwe, Russia and North America plus around twelve projects at prefeasibility stage or later (PGM Mine Economics).
• Mine-by-mine analysis to 2030: Detailed reserves/resources, production, operating cost, capital cost and cash flow analysis.
• Global Analysis: Distilling the mine-by-mine data into analysis of global trends; production and industry cost structure, cost and margin curves, competitive analysis.
• Electronic Product: Web-based, mine and project profiles and notes available to download. Flexing model allowing clients to assess the impact of different exchange rate, input cost and gold price scenarios on mine economics.

The service offers:

• Mine-by-Mine Profiles
• Highly detailed analysis
• Forecasts to 2030
• All analysis delivered via website
• Cost curves and cost leagues
• Benchmarking analysis
• Flexing models
• Global trend analysis and commentary
• Analysis updated quarterly, or when significant events occur

> For further information contact Charles de Meester charles.demeester@thomsonreuters.com