The gold price
Newmont unveils bold future vision - 8 August 2007
Major gold company Newmont is upbeat about the future of gold and its vice-chairman wants his company to become the number one producer once more.
At the present time rival Barrick is the world's biggest gold producer but Newmont vice-chairman Pierre Lassonde is determined that recent corporate restructuring will help it regain its crown, the Brisbane Times reports.
He did not go into specifics but recent changes at Newmont have included doing away with its hedge book. Other big news will be announced soon, he said.
On the subject of the gold price, Lassonde went even further than those analysts predicting an eventual bullion price of $850 per ounce.
"I think this bull market will be a lot longer than we think," he said. "I believe gold could have three zeros after the first number. I just don't know what the first number will be."
Newmont operates assets on five continents and employs around 34,000 employees and contractors around the world.
At the present time rival Barrick is the world's biggest gold producer but Newmont vice-chairman Pierre Lassonde is determined that recent corporate restructuring will help it regain its crown, the Brisbane Times reports.
He did not go into specifics but recent changes at Newmont have included doing away with its hedge book. Other big news will be announced soon, he said.
On the subject of the gold price, Lassonde went even further than those analysts predicting an eventual bullion price of $850 per ounce.
"I think this bull market will be a lot longer than we think," he said. "I believe gold could have three zeros after the first number. I just don't know what the first number will be."
Newmont operates assets on five continents and employs around 34,000 employees and contractors around the world.
Goldbug, 08 Aug '07
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