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Mining Weekly reported that McEwen Mining has revised their gold-equivalent output by 2016 down by 22 percent, the latest gold miner to be impacted by the dramatic drop in gold prices and pressure to cut costs.
Mining Weekly reported that McEwen Mining has revised their gold-equivalent output by 2016 down by 22 percent, the latest gold miner to be impacted by the dramatic drop in gold prices and pressure to cut costs.
As quoted in the Mining Weekly report:
McEwen Mining, under the leadership of chief owner Rob McEwen, late on Monday said the forecast production growth had been reduced to 225 000 gold-equivalent ounces (GOEs), which would consequentially result in reduced capital requirements from its development projects to the point that its cash reserves and cash flow from operations would be enough to fund the majority of the revised production growth.