AngloGold, Newmont CEOs cite gold production decline
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Submitted by
cpowell on 02:41PM ET Thursday, October 30, 2008. Section:
Daily
Dispatches 5:40p ET Thursday, October 30, 2008
Dear Friend of GATA and Gold:
Mining Weekly's Martin Creamer quotes AngloGold Ashanti CEO Mark Cutifani as
saying that world gold production is likely to continue declining at 5 percent
per year until the gold price stabilizes at between $900 and $1,000. The
production decline will only improve gold's fundamentals, Cutifani added.
And of
course the decline in production will hasten the demand on the already strained
reserves of central banks as they continue to try to suppress gold's price. You
can read the Mining Weekly report here:
http://www.miningweekly.com/article.php?a_id=146429Meanwhile MineWeb's Dorothy Kosich gets similar comments from Newmont Mining
CEO Richard O'Brien, which you can find here:
http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=71729&sn=Detai...CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee
Inc.
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2008
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Silver is king, Go Gold !
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