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Gold
Institute Statement
Washington,
D.C. (September 28, 2002) – Yesterday, the Board of Directors of the Gold Institute voted to dissolve the association and consolidate its activities within the National Mining Association, effective January 1, 2003. The decision was made against the backdrop of consolidation in the gold sector and changes in the general business climate.
Institute Chairman, Bill Hayes, Executive Vice President of Placer Dome, said the decision is about economics, not performance. "Since its inception in 1976, the Gold Institute has been an important and vital voice for the gold industry. Our staff has done an outstanding job in championing the causes of our industry. However, the changing forces at work in our industry and the competition for limited resources has made this change necessary" Hayes stated.
The Gold Institute is a nonprofit industry association comprised of leading gold producers, refiners, bullion suppliers and manufacturers.
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