Gold producers establish international association

Gold producers from seven countries have decided to form a new trade association dedicated to the promotion of the uses of gold.

The new organization is negotiating to acquire the resources — including experienced personnel — of International Gold Corp., the marketing arm of South African gold producers known as Intergold. The association, open to gold producers worldwide, will be headquartered in Geneva. It will focu s on the promotion of gold for jewelry and the many coin programs being developed worldwide as well as on research and development of new uses for the metal.

Countries represented by producers trying to establish the association are: Australia, Brazil, Canada, Fiji, Japan, South Africa and the U.S.

Gordon Parker, chairman of Newmont Mining and Newmont Gold in the U.S., is temporary chairman of the association.