St Barbara loses its shine

The junior miner is the latest to cut the value of gold deposits, falling into loss after $309 million in writedowns.

Junior producer St Barbara has joined a long list of gold miners in writing down the value of deposits. St Barbara, which has mines in Western Australia, Papua New Guinea and the Solomon Islands, today revealed a $309 million writedown on its assets that resulted in a $192 million loss for the company in 2013.

St Barbara says its cash operating costs in 2014 will be between $880 an ounce and $940 an ounce, though the company does not disclose its total cost to mine an ounce of gold. 

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