What it includes
AISC includes cash mining cost, sustaining capital, exploration to maintain reserves, royalties, and corporate overhead. It excludes growth capital and one-time items.
Precious metals intelligence
All-In Sustaining Cost
AISC is the World Gold Council metric that captures the full cost of sustaining gold production, not just direct mining cost.
Cost curve position
AISC ranks miners on a global cost curve. Low-cost producers stay profitable in weak gold markets. High-cost producers offer leverage when gold rallies but suffer when prices fall.
Limitations
AISC excludes growth capital, which can be a meaningful share of total spending. Compare AISC alongside free cash flow and reserve replacement to avoid being misled by cost metric alone.
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MetalBrief publishes market information, tools, indicators, and educational context, not account-specific investment, legal, tax, or financial advice. FX conversions, macro proxies, headlines, RSI, support, resistance, and opportunity scores are derived unless labeled as market data.