Due to the past price performance of gold, supply is constrained says Gary Goldberg, president and CEO of Newmont Mining. “We see the medium- to long-term as being very good,” said Goldberg in an interview with MINING.com earlier this month talking about gold prices and buying trends in India and China.
“I think you have seen a decrease in supply as there has been less investment in new properties. We are one of the few who are building two brand-new mines: Merian-Suriname and Long Canyon in Nevada. “Overall, we see gold supply dropping by about 7% by 2021.”
Transcript is edited for brevity and clarity.
MINING.com: Who are you.
Gary Goldberg: I am Gary Goldberg. I am the president and CEO of Newmont Mining.
MINING.com: What is Newmont Mining?
Gary Goldberg: Newmont Mining is one of the world’s largest gold mine operators with operations on five continents, with a little over 16,000 employees and producing over five million ounces of gold per year.
MINING.com: When did you start your position as president and CEO?
Gary Goldberg: It’s been a little over three years since I took over as CEO of Newmont.
MINING.com: How have gold prices changed since then?
Gary Goldberg: When I joined Newmont about 4.5 years ago, I think prices were at about the peak. The prices have gone down ever since I have joined basically until earlier this year.
For the rest of this article, click here: http://www.mining.com/overall-see-gold-supply-dropping-7-pct-2021-newmont-ceo/