Eldorado Gold (NYSE:EGO) Fastest Growing Company in 2010

It's interesting and not all that surprising that the usual fastest-growing company in 2010 isn't a tech company, but rather, a gold miner. In this case, Eldorado Gold (NYSE:EGO), according to Fortune Magazine's list of the '100 Fastest-Growing Companies for 2010.'

Surprisingly, Eldorado Gold was the only gold miner on the list, although if gold prices continue to rise as they're expected to, that should change.

One problem that is accompanying the rise in gold prices, especially for smaller and mid-tier miners, is that costs have been rising along with prices, and these miners usually are highly leveraged and unable to control costs in the way better-positioned gold miners like Eldorado are, or major miners like Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) are able to, although even there some are struggling more than in the past.

For Eldorado, their competitive advantage is their position in China, where they are able to produce gold at lower costs than their competitors who either aren't exposed there, or have limited exposure.

There is also the increase in demand from China, which is now the fastest-growing consumer of gold in the world, and second in consumption only behind India.

With that in mind and Eldorado strongly positioned to supply growing demand at low costs, they should have a solid future in reference to growth, assuming they can keep costs under control.