Company Announcement - At the Denver Gold Forum today, the World Gold Council and Denver Gold Group announced their intention to work together more closely. Combined, these two organisations represent the majority of the world’s gold miners, in terms of production, mineral reserves and market value. Through closer co-ordination and collaboration they aim to ensure that miners are better informed on demand drivers, market trends and key developments.
The global gold mining landscape has changed substantially over the last few decades with increased operations in many more countries, including substantial foreign investment in new markets and frontier territories. This has resulted in a different and broader set of opportunities, risks and challenges for gold miners.
At the same time the wider gold market has moved eastwards and seen major shifts in the drivers of demand, including the rise of China as both a producer and consumer. These changes, along with substantial new consumers for gold in other sectors and geographies, mean that all market participants need a better, more detailed understanding of the whole gold supply chain from mine to market.
By working in tandem, the World Gold Council and the Denver Gold Group will enhance their ability to ensure the gold mining community is better informed and therefore better prepared to understand and explain the forces currently driving demand across the gold market.
Tim Wood, Executive Director of the Denver Gold Group said,“For some time the interests of our members have been aligned, so it makes strategic sense to work more closely. After nearly three decades of service to the industry, the Denver Gold Group has evolved as a significant platform for sharing ideas, information and experience. The World Gold Council produces the highest quality market data and insights, informed by its direct experience of the consumer markets. We believe this knowledge and perspective is important for our members, particularly to counter-balance the short-term, sentiment-driven commentary that often crowds the gold space.”
Aram Shishmanian, CEO of the World Gold Council said, “We welcome this opportunity to collaborate more closely with the Denver Gold Group to ensure industry stakeholders have access to our authoritative and gold market insights and experience gained through developing new markets and investment channels for gold around the world. The World Gold Council’s role is to sustain and increase the demand for gold through market interventions - something no other organisation does. It is essential that miners and investors understand the real drivers of demand for physical gold. Our collaboration with Denver Gold Group aims to contribute to a dynamic gold mining industry by providing mining leaders and investors with research and insights on gold’s uniquely diverse qualities as an asset, and the forces shaping the market both current and future.”