'We Are Running Out of Gold' - Goldcorp’s Ian Telfer (PART 1/3)

Gold may be setting itself up for higher prices because there just isn't enough of it anymore, this according to mining mogul Ian Telfer. Speaking with Kitco News on the sidelines of the Mines & Money conference in Toronto, the Goldcorp chairman said miners are just not finding gold like they used to. "We're running out of gold as an industry," he said. "I think we're spending significant amounts of money exploring but it's getting harder to find." Telfer, who has been behind countless deals in the mining industry, said the picture is looking a little brighter for the industry moving forward. "Production is starting to turn down and once that starts to turn down, I think you'll see the gold price really start to move." The key to survival? "Not having too much debt because the debt in a downturn is what destroys most mining companies."  (show less)

Gold may be setting itself up for higher prices because there just isn't enough of it anymore, this according to mining mogul Ian Telfer. Speaking with Kitco News on the sidelines of the Mines & Money conference in Toronto, the Goldcorp chairman said miners are just not finding gold like they used to. "We're running out of gold as an industry," he said. "I think we're spending significant amounts of money exploring but it's getting harder to find." Telfer, who ... (read more)

 
 
Mines & Money - Toronto

Mines & Money - Toronto
For the third time in its history, Mines & Money is coming back to North America; this time in Toronto, Canada. The international event brings together mining executives, market analysts and a network of investors bringing some of the best information to the mining community. From October 2-4, join the Kitco News team as we interview the likes of Sprott’s Rick Rule and mining mogul Ian Telfer, among others.

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