Energy and natural resources
AISC (all-in sustaining cost)
A gold miner's full cost to keep producing an ounce, including sustaining capital.
Last reviewedWhat does AISC (all-in sustaining cost) mean?
All-in sustaining cost is a measure used mainly in gold mining, defined in guidance from the World Gold Council. It adds to cash operating costs the other costs needed to keep current production going: sustaining capital spending, royalties and production taxes, head office costs and some exploration. It leaves out spending on growth projects. Example: cash costs of 900 an ounce plus sustaining capital of 250 and royalties and overheads of 150 give an AISC of 1,300 an ounce; at a gold price of 2,500 the miner earns an all-in margin of 1,200 an ounce. Because it includes sustaining capital, AISC is a better guide to cash generation than cash cost alone.
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