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Newmont sees 2012 Gold production at 5 million ounces

Newmont sees 2012 Gold production at 5 million ounces | Gold and What Moves it. | Scoop.it
From www.bullionstreet.com - January 23, 3:12 PM
The company stated that the preliminary attributable gold and copper sales of 1.2 million ounces and 42 million pounds for the fourth quarter, respectively.

 

TORONTO(BullionStreet): Canada based Newmont Mining Corporation said it expects a sharp decline in gold and copper production in the last quarter of 2012.

 

In a statement, Newmont,one of the world's largest gold producers with significant assets or operations on five continents said, in the 4th quarter, company's total attributable gold production to reach 1.252 million ounces, down from 1.304 million ounces last year.

 

Copper production is expected to reach 35 million pounds, down from 47 million pounds reported a year-earlier. The company stated that the preliminary attributable gold and copper sales of 1.2 million ounces and 42 million pounds for the fourth quarter, respectively. ...

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This Is About To Rock The Financial World

This Is About To Rock The Financial World | Gold and What Moves it. | Scoop.it
From kingworldnews.com - January 10, 12:58 PM

Eric King:  “Kevin, I know you’ve been communicating with many of the sovereign wealth funds overseas.  What are you hearing from them?”

 

Sprott Inc. President Bambrough:  “The burning question that I always have, I’m amazed at their ongoing willingness to continue to accumulate, and hold, such large amounts of US denominated bonds.  It’s been my view that they are basically playing a Ponzi scheme.

 

I’ve had that confirmed when I’ve had long discussions with different sovereign wealth funds and different government agencies around the world.  They’ve been willing to play this game, but more and more now, as their domestic economies have grown and the US portion of their exports becomes smaller, and with the amount of T-Bills that they have (already) accumulated, I believe they’ve reached the boiling point where they are really going to be unwilling to grow their reserves (of US Treasuries).

 

Just the process of not growing their reserves is going to be very disruptive.  If they are not willing to accumulate more T-Bills, this is going to force the trade deficit closed.  I think that is really going to rock the financial world at some point in the near future.

Hal's insight:

click over for the rest of the King World News. I've been wondering about this for some time mysefl, musing that once this begins to pick up steam around the globe that the fear will break out in DC. Pretty much because the emperor will be shown to have no clothes.

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