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Friday, 30th June 2006 (3648 views)

Seven new gold mining institutions have joined the World Gold Council (WGC).

Agnico-Eagle Mines, Cambior, Coeur D'Alene Mines, Eldorado Gold, Goldcorp, IAM Gold and Kinross have all entered the organisation, which now includes 24 individual companies.

The new signatories have increased the WGC members' share of the total world gold production by approximately five per cent so that it now accounts for around 38 per cent.

"It's with great pleasure that we are welcoming today the addition of seven new members to the World Gold Council," said Pierre Lassonde, the WGC chairman.

"By joining the WGC these gold producers recognise the significant value created for the entire industry in the last three years, through both its marketing efforts and investment product creation," he added.

Since its inception in 1987, the WGC has become a key player in the international marketing of gold and an industry innovator in making strides to promote responsible uses of the precious metal, which has helped to augment its profile.

One of the WGC's most successful initiatives has been the launch of Exchange Traded Gold Funds (ETFs), which have significantly increased the level of investment in the precious metal.

 

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