Newmont Mining (NYSE:NEM) CEO: Gold Prices Surging

Gold Prices Rising

Newmont Mining (NYSE:NEM) CEO Richard O'Brien recently said he believes the misguided monetary policies of the governments around the world ensure gold prices will rise as inflation increases and currencies fall in value.

Consequently, O'Brien thinks gold could reach as high as $1,500 an ounce over the next several years, as the consequences of central banks printing money to allegedly stimulate their economies will come back to haunt them, saying, "The long-term impact of all the stimulus programs that we have seen in the U.S. and in European countries is going to come home to roost."

This year O'Brien sees gold trading in a range between $1,000 to $1,250.

Gold Prices Rising

Gold Company | Newmont Mining Corporation

Newmont Mining Corporation

Newmont Mining Corporation is one of the largest gold mining companies in the world, and was founded back in 1921. Just four years later it was listed for the first time on a public exchange.

Based in Denver, Colorado in the U.S., Newmont employs somewhere around 34,000 workers and/or contractors, with most of those in their base operations in Australia, Indonesia, Ghana, Peru and the United States.

Newmont Mining also has significant presence in Canada, New Zealand and Mexico, along with a number of smaller operations scattered around the world.

While mining jobs have slowed down some, the company still looks like it'll remain steady for workers going forward, as expectations that gold prices will rise before the year is out, and that could also spur more hiring from the gold mining company.

Smaller gold mining companies have been struggling, and while Newmont mining stock hasn't done much, there is a lot of hope it'll move in major way soon.

Newmont has impressed a number of people, and so much so that they're the only gold company at this time listed on the S&P 500 index, as well as the first gold mining company to be chosen to be a part of the Dow Jones Sustainability World Index.

When you think of a Newmont mine, you're thinking Newmont gold, and while that's primarily true, there are Newmont mines that are in the copper production business, mostly in the Batu Hijau operations in Indonesia.

At this time the Indonesian government has put a value on the Newmont Mining Corporation's unit in the country at $4.9 billion. Indonesia is seeking to acquire a portion of Newmarks' unit, and is in negotiations to possibly buy the entire division.

For the end of December 31, 2008, the mining company had an estimated 85 million equity ounces in reserve, and had an aggregate land position of about 38,840 square mile, or 100,600 square kilometers.

Going forword, the Newmont gold mining company is strongly positioned to take advantage of any upwards move in the price of gold.

Newmont Mining Corporation