Gold output under pressure
Adam Pike, News Editor
4 Mar 2014, 10:49 a.m.
Mining giants Barrick Gold, Goldcorp and Newmont mining have confirmed that global gold out is likely to decline as a result of last year’s price decline as company’s scale back spending and exploration plans.
Jamie Sokalsky CEO of Barrick Gold added "I think ultimately gold production in the industry could start to decline more than people think." In addition Sokalshy believes lower mine production will eventually support a higher gold price.
Although, there is no consensus amongst industry insiders as to when mine production will fall, McEwen Mining CEO Rob McEwen believes it could start to happen as early as this year.