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Home>GoldWire>Randgold CEO just shrugs as gold mining industry produces more metal at a loss

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Randgold CEO just shrugs as gold mining industry produces more metal at a loss

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Chris Powell

GATA

Published : August 19th, 2014

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FOLLOW : Central Bank Gata Gold Gold Price Suppression Market World Gold Council

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	In the report appended here Randgold Resources CEO Mark Bristow complains to Bloomberg News today that the gold-mining industry is boosting supply to the market even while mining the metal at an increasing loss. Overlooking the gold mining industry's silence and the silence of its supposed trade association, the World Gold Council, in the face of the longstanding Western central bank policy of gold price suppression, Bristow seems not to understand even half the problem. Randgold shareholders might ask Bristow if he's aware of any of the documentation archived by GATA here -- http://www.gata.org/taxonomy/term/23 -- and if he plans to do anything about it. If he's not and he doesn't, he'll have one more reason to be shaking his head at his brain-dead industry. "The downside is driven by the industry continuing to supply gold at a loss," Bristow said in an interview. "We're not disciplined as an industry. We're not in good shape as a gold mining industry." Randgold's stock is the best performing among major companies with producing mines in the past decade.

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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