All major gold deposits have been discovered, Goldcorp chairman says
“Goldcorp Chairman Ian Telfer is the latest industry exec to predict the world has reached “peak gold,” saying that mine production will continue to decline because all the major deposits have been discovered. ‘Gold produced from mines has gone up pretty steadily for 40 years,’ Telfer tells the Financial Post. ‘Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down… We’re right at peak gold here. Are we not looking for it? Are we bad at finding it? Or have we found it all? My answer is we found it all.”
MK note: Obviously, this opinion is from someone in the know. . . .An interesting, if not somewhat shocking, statement that will alter the thinking of a good many investors especially those with an eye to the long term as gold coin and bullion owners.