The Cost Of Producing An Ounce Of Gold | American BullionThe practical, regulatory, and security costs associated with gold production can vary dramatically from region to region. The most expensive place in the world to mine gold is in South Africa. There, all-in gold production costs can be more than twice as much as in Peru, which is the least expensive place to mine gold.gold ore cost of production,The true cost of producing an ounce of gold | ProvidentMay 23, 2017 . Our planet's gold reserves are limited, which is part of what makes the yellow metal such a valuable resource. This means that finding and mining gold can be a very costly endeavor. But just how much does it cost to produce an ounce of gold? It's very difficult to determine exact numbers, but mining.