Gold Institute sets new standard for the reporting of costs related to gold production

The gold mining industry has adopted a uniform format for reporting production costs on a per-ounce basis.

The voluntary standard, which was developed by the Gold Institute and a committee of North American gold producers, will allow the financial community and individual investors to make comparisons of gold mining companies and their separate operations.

The committee is discussing standards for gold resource reporting, which would include definitions and guidelines for reporting reserves, mineralized material and other exploration information.