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2 Methodology Gold mine cash costs per ounce of production in this report are based on cost reporting from 107 gold mining companies, with a total of 266 mines in the .

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The report is based on cash costs* per ounce of production from 111 gold mining companies operating a total of 274 mines around the world During the first quarter of 2011, the worldwide average cash cost of gold production increased to $620 an ounce, an increase of 125% year-on-year

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