Friday, 25th August 2006 (3354 views)

The chairman and chief executive of Newmont Mining, Wayne Murdy, has called upon gold corporations from around the world to unite in an effort to promote the economic prospects of mineral-rich developing countries.

Mr Murdy, writing in the London Financial Times, implored international gold companies to urge the governments of the countries in which they operate to use the revenue created by gold mining to develop communities and improve the lives of their citizens.

The very existence of mining in the developed world relies heavily on a stable operating environment, he said, so it makes sense for corporations to play their part in ensuring the strength of mineral-endowed nations' infrastructure.

Mr Murdy advocated a "partnership approach" between corporations and local and national governments in order to "raise the chances that prosperity will flow".

Training local people, helping to build communities, and increasing international co-operation were all possible outcomes, he added, noting that "such partnerships can [also] create a favourable climate for investment" which would aid gold's value in the longer term.

To read Wayne Murdy's article in the London FT in full, click here.

 

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