AngloGold, Newmont CEOs cite gold production decline


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:

Meanwhile MineWeb's Dorothy Kosich gets similar comments from Newmont Mining CEO Richard O'Brien, which you can find here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Join GATA here:

New Orleans Investment Conference
Thursday-Monday, November 13-18, 2008
New Orleans Marriott Hotel

* * *

Help Keep GATA Going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at