| Iamgold Corp. (IMG), the gold producer with mines in Canada and Mali, says the metal will rise to a record $2,500 an ounce as global output peaks and ore grades decline. The industry has exploited its best-quality gold reserves and is being forced to tap lower-grade and higher-cost deposits, Iamgold Chief Executive Officer Steve Letwin said.
“I really think now we are at Peak Gold,” Letwin, 57, said in a Jan. 10 interview at his company’s Toronto headquarters. “Nobody has seen the kind of production profiles they thought they were going to see.”..............................................Full Article: Source
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