What it actually costs a producer to keep producing an ounce — mining, processing, overheads and sustaining capital.
A comprehensive measure of the total cost to produce an ounce of gold, including mining, processing, administrative costs, sustaining capital, and exploration. AISC is the industry standard metric for comparing mining company costs.
AISC is the number that decides whether a mine makes money. The gap between AISC and the metal price is the margin, and it is a far better comparison across producers than cash cost, which excludes too much.
Compare AISC to the prevailing metal price rather than across commodities. A producer at $1,400 AISC with gold at $2,400 has room; the same producer has none at $1,500 gold.
AISC is a guidance metric, not a standardised accounting one. Companies vary in what they include, particularly growth capital, so read the footnotes before comparing two miners.