Following our earlier analysis of gold production figures, we now turn our attention to a critical metric for profitability in the mining sector: All-In Sustaining Costs (AISC). This article explores some of the most significant AISC movements and the company-specific factors driving them.
A review of All-in Sustaining Costs (AISC) for major gold producers shows varied cost changes in Q1 2025 compared to the same period in 2024. Company reports attribute these shifts to a range of operational factors.
Among the producers, Alamos Gold reported the largest increase in AISC, rising by 42.69%. The company attributes this to higher share-based compensation costs and higher costs per ounce at its Young-Davidson and Magino mines.
Iamgold’s AISC rose by 27.80%. The company cited lower production volumes at its Essakane mine and increased operating expenses at the Westwood mine as contributing factors. Other companies reporting higher costs include Harmony Gold (+23.96%) and Eldorado Gold (+23.53%), with both pointing to inflationary pressures on labor and other operational expenses.
Conversely, some companies reported cost reductions. Gold Fields saw its AISC decrease by 6.50%, while Endeavour Mining recorded a 4.81% drop. These companies generally attribute the improved performance to operational efficiencies and a return to normalized production levels.
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