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As Australian gold producers adjust their annual guidance for the 2026 financial year, a trend of rising costs has emerged. Northern Star Resources (ASX: NST) forecasted an increase in all-in sustaining costs (AISC) for FY26 to between A$2,300-$2,700 per ounce, up from A$2,163/oz in FY25. This expectation reflects broader pressures within the sector, where labor costs are anticipated to rise by 3-4%.
Other companies are also raising their cost projections. Evolution Mining (ASX: EVN) expects AISC to increase to A$1,720-1,880/oz for FY26 from A$1,572/oz in FY25, while Regis Resources (ASX: RRL) anticipates a jump from A$2,531/oz in FY25 to A$2,610-$2,990/oz in FY26. Ramelius Resources (ASX: RMS) is expected to experience a similar uptick, with managing director Mark Zeptner noting potential A$100/oz increases.
This cost escalation is attributed to factors such as inflation and increased demand for labor, influenced by an ongoing boom in the gold sector. Westgold Resources (ASX: WGX) recently set their guidance at A$2,600-2,900/oz, with significant costs stemming from haulage rather than labor. Companies are balancing cost pressures with strategies to maintain production margins.
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