World Gold 2011—PDF

The World Gold Conference is hosted alternatively by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), the Australasian Institute of Mining and Metallurgy (AusIMM) and the Southern Africa Institute of Mining and Metallurgy (SAIMM). The conference completed its first cycle with the 2009 Gold Conference in Johannesburg. After 3 successful events, the conference returned to Canada for the 50th Anniversary of the Metallurgy and Materials Society of CIM. According to the World Gold Council, the rise in demand for bars, coins and jewellery increased the global gold demand in the first quarter of 2011 totalling 981.3 tonnes, up 11% year-on-year from 881.0 tonnes in the first quarter of 2010. In value terms, this translated to US$43.7bn, compared with US$31.4bn in the first quarter of 2010, an increase of almost 40%. The gold price exploded in the summer of 2011, reaching $1,850 USD/oz, in August. Many large projects were initiated by mining companies following the constantly increasing price of gold.