The Hindu Business Line : 7 members join World Gold Council

The World Gold Council (WGC) announced that Agnico-Eagle Mines, Cambior, Coeur D'Alene Mines, Eldorado Gold Corporation, Goldcorp, IAM Gold and Kinross have joined the council.

The council now represents 24 companies accounting for 38 per cent of total world gold production.

The new members represent an increase of 17 per cent in production terms for WGC and around 5 per cent of total world gold production.

Golden benefits

This announcement will benefit the entire gold industry, with increased funding available to the WGC to develop and implement its gold marketing programmes internationally, according to release issued by WGC.

In 2005, gold jewellery demand rose 17 per cent in value terms in markets where the council conducted promotional campaigns, compared to only seven per cent in non-promoted regions.

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