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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.63

+3.0%

Dec 19 4:00 PM EST

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To: goldsheet who wrote (89945)	9/24/2002 8:18:03 PM
From: goldsheet	Read Replies (2) of 116816

Russian Gold Output Up 16% MOSCOW (Prime-Tass) -- Gold production is expected to jump nearly 17 percent this year to 180 metric tons, Vladimir Rybkin, the deputy head of Gokhran, the state depository of precious metals, said Tuesday. Gokhran had expected production to total 175 tons. As of Sept. 1, 108.2 tons had been produced, up 16 percent year on year A related story: GFMS 3% production drop for 2002 mg.co.za The fall was mainly the result of declining production in Indonesia and the United States, which offset rising output in other countries such as Russia and Peru. GFMS managing director Philip Klapwijk said the fall in output at the Grasberg mine in Indonesia, the world's largest single gold-producing mine, was largely temporary and global mine output could pick up slightly next year.

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