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Commodities Briefing - Categorized | Bullion/Gold, M&A, Market Moves more

Gold Mining ‘Needs New Discoveries’ as M&A Rejected on Bad Memories, 2016 Price Jump

Posted on 28 September 2016

Gold prices in China – the world’s No.1 gold mining, importing and consumer market – held firm overnight, fixing at the Shanghai Gold Exchange little changed from before the weekend, but edging down to a $2.85 per ounce premium above comparable Dollar quotes for metal settled in London.
“To keep the gold industry supplied we need to discover 90 million ounces a year,” said gold mining CEO Mark Bristow of Randgold Resources to journalists in Johannesberg yesterday, ” [but] we are only discovering 10 million to 15 million ounces a year. “We either have to discover more quality ounces or reduce the life of mines.”…………………………………..Full Article: Source


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