Here we can see the big change in diesel consumption per ounce of gold. For every ounce of gold that GoldCorp produces, it takes 23.2 gallons of diesel. If you read my previous article, this is about right for the average. However, we can see just how much this amount has risen in just 6 years.
I am working on other aspects such as total amount of processed ore and how much gold that is being produced per tonne.
GOLDCORP’S TOTAL PROCESSED ORE
2005 = 8.5 million tonnes
2011 = 95 million tonnes
GOLDCORP’S AVERAGE GOLD GRAM PER TONNE
2005 = 4.14 G/T
2011 = 0.81 G/T
1H 2012 = 0.65 G/T
GOLDCORP’S DIESEL CONSUMPTION
2005 = 9.7 million gallons (8.5 gal per oz)
2011 = 58.3 million gallons (23.2 gal per oz)
Wow, that is just amazing. Look at that amount of gold per tonne that GoldCorp is producing. In just the past 6 months it has fallen 20%!!!
No one in the industry has a clue how bad the energy situation will become in the next several years as the gold mining community devours millions and millions more gallons of diesel…. as well as an increasing amount of gallons per oz.
Lastly…. just multiply this by the whole industry going forward.