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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Ken Benes who wrote (43451)	10/21/1999 12:55:00 PM
From: goldsheet	Read Replies (3) \| Respond to of 116764

> Bad move Neumont. Producers should still be paring production from marginal facilities and certainly not expanding production I have been saying for some time that after setting a record of 82.1 million ounces of primary world gold production in 1998, we may get really close to doing it again in 1999. Two copper firms (Rio Tinto and Freeport McMoRan) along with Barrick are going to produce about 9.5 million ounces versus 7.5 in 1998. 2 million extra ounces should cover most of the minor cutback by mostly smaller firms. The supply side of gold is still very strong. Newmont doesn't have many marginal mines, most are very high volume and low cash cost. Looks like Newmont will contribute to a record year 2000