Note: 80% used in jewelery
GOLD GIANT URGES GOLD MINERS TO MARKET
Date: Thursday, August 31, 2000
Speaking at the RNA China Gold and Precious Metals Conference held earlier today (31 August) in Zhaoyuan, AngloGold’s Executive Director: Marketing, Kelvin Williams, argued compellingly for gold miners to mobilise in marketing their product, gold. Williams pointed out that as the world’s largest gold producer, AngloGold has a real, long-term interest in the demand for gold, and in the market for the metal. “Since gold jewellery makes up 80% of all gold demand annually, marketing is clearly important to the health of this sector, in which gold competes with other precious metals and luxury items,” he said. With regard to gold usage for monetary or investment value, Williams advocates high level and intellectual engagement between monetary authorities and gold industry leaders on the role that gold can play in monetary economic systems. The challenge, said Williams, is to achieve a deregulated market for the metal, to ensure that gold is allowed to compete fairly and freely with other monetary or financial assets for the private consumer. Williams argued that gold mining companies, as the sector most interested in the health of the market for gold jewellery, are also best equipped to plan, lead and manage any generic campaign in support of gold in jewellery worldwide. “AngloGold follows with interest China’s moves to deregulate gold and to allow it to compete on a level playing field with other products, and will look for opportunities to partner local gold businesses in China to improve demand for gold in that country in the future,” he said.
Speech by Kelvin Williams at the RNA China Gold & Precious Metals Conference </NewsMediaResources/uploads/Document238.doc>
Disclaimer
Except for the historical information which may be contained herein, there maybe matters discussed in this news release that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors including, but not limited to, development of the Company's business, the economic outlook in the gold mining industry, expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such forward-looking statements, refer to the Company's annual report on the Form 20-F </InformationForInvestors/AnnualReport98/states/contents.htm> for the year ended December 31, 1998 which was filed with the Securities and Exchange Commission on March 30, 1999.
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