Pierre Lassonde, president of
The 15-member council, which includes the world’s five biggest gold companies, is based in London, U.K. Lassonde, 57, will chair all of its committees.
Gold prices have been on the upswing for four consecutive years. The U.S.-dollar-denominated metal has benefited from a weakening U.S. dollar, which makes gold attractive as an alternative to other U.S. assets, such as stocks and bonds.
Gold demand from jewelers and other fabricators rose to 3,179 tonnes last year, its highest level since 2001, according to Gold Fields Mineral Services. Jewelry accounted for 68% of total demand for gold in 2004.
Lassonde has presided over Newmont since February 2002, shortly after Newmont bought Franco-Nevada Mining, where Lassonde was a chief executive.
He is the author of Gold Book: The Complete Investment Guide to Precious Metals.
Newmont is the world’s largest gold producer. Gold Fields ranks fourth.
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