The LBMA Precious Metals Conference 2003

2 - 3 June

The Four Seasons Hotel - Lisbon, Portugal

Session 1: Introduction and Overview

Session 1 - all speeches (358k)
Introduction Stewart Murray, LBMA Chief Executive (80k)
Welcome to Lisbon Theresa Maury, Vice-Mayor of Lisbon (73K)
Opening Remarks Simon Weeks, LBMA Chairman (99k)
Keynote Speech José de Matos, Deputy Governor, Bank of Portugal (104k)
Gold as a Reserve Asset Grigori A Marchenko, Governor, National Bank of the Republic of Kazakhstan (121k)
Regime Change Kamal Naqvi, Precious Metals Analyst, Macquarie Bank (368k)

Session 2: Gold Investment

Session 2 - all speeches (299k)
Introduction by the Session Chairman Frederick Lasserre, Head of Commodities Research, Société Générale (71k)
Investment-led Recovery in the Commodities Markets Diego Parrilla, Executive Director, Goldman Sachs (252k)
A Hedge Fund’s Perceptions on Precious Metals Steve Mathews, Commodities Strategist,
Tudor Investment Corporation (405k)
The Private Investor John Reade, Precious Metals Analyst, UBS AG (309k)
A New Approach to Gold Investment: The Story So Far Graham Tuckwell Chairman, Gold Bullion Limited (132k)
Questions and Answers (106k)

Session 3: Mining

Session 3 - all speeches (956k)
Introduction by the Session Chairman Martin Fraenkel, Director, NM Rothschild & Sons Ltd (76k)
Challenges to Mining: Environmental, Societal and Political Anita Roper, Deputy Secretary General, International Council on Mining & Metals (228k)
Risk Assessment in Mining Bernard Swanepoel, Managing Director, Harmony Gold (318k)
Gold Mining In Russia German Pikhoya, Deputy General Director, CJSC “Gold-Mining Company Polyus” (136k)
Making Money – The Challenges Facing Global Miners Rex McLennan, Executive Vice-President and CFO, Placer Dome Inc. (264k)
Questions and Answers (126k)

Session 4: A New Era for Gold?

Session 4 - all speeches (886k)
Introduction by the Session Chairman Martin Stokes, Vice-President, JPMorgan Chase Bank (97k)
The Shanghai Gold Exchange – The Dawn of a New Era Shen Xiangrong, Chairman of the Board, Shanghai Gold Exchange (107k)
An Indian Futures Exchange - Narendra Gupta, Deputy General Manager, Global Markets Group, ICICI Bank Ltd (in association with National Commodity & Derivatives Exchange) (131k)
Managing Market Risk in Precious Metals Albert J Getz, Senior Director, Metals Research,
New York Mercantile Exchange, Inc (104k)
From Giant Maples to Bonsai: The Decline of Producer Hedging Jessica Cross, CEO,
Virtual Metals Research & Consulting (166k)
Behaviour and Decision Making in the Bullion Market Gerald Ashley, Consultant (143k)
Session 4: Summary - Martin Stokes Vice-President, JPMorgan Chase Bank (79k)
Questions and Answers (129k)

Session 5: Above-Ground Stocks

Session 5 - all speeches (537k)
Introduction by the Session Chairman - Jonathan Spall, Head of Metals Marketing (London)
- Commodities Division, Deutsche Bank AG London (73k)
The Role of the Bank of England in the Gold Market Graham Young, Senior Manager, Foreign Exchange Division, Bank of England (88k)
Industrial Scrap Xavier Van Houte, Metals Management & Sales Manager, Umicore Precious Metals (258k)
Russian PGM Stocks Alan Williamson, Head of Commodities Research, HSBC Investment Bank (217k)
Questions and Answers (129k)

Session 6: Physical Demand

Session 6 - all speeches (537k)
Introduction by the Session Chairman Paul Walker, Director, Gold Fields Mineral Services Ltd (74k)
The Marketing of Gold and Gem Set Jewellery: Dubai’s Story Tawhid Abdullah, Chief Executive, Damas Jewellery Group (108k)
Gold: The Fifth Millennium Sarah Davanzo,CEO, Gold Ltd., Strategic Advisor, Marketing, AngloGold Ltd. (236k)
Doubling Industrial Demand for Gold: Pipedream or Reality? Christopher W Corti, Managing Director, International Technology, World Gold Council (321k)
Questions and Answers (128k)

Session 7: Future Prospects - Panel Discussion

Session 7 - all speeches (537k)
Introduction by the Session Chairman Simon Weeks, LBMA Chairman(71k)
Medium- to Long-Term Outlook for Gold and Silver Philip Klapwijk, Managing Director,
Gold Fields Mineral Services Ltd (333k)
Investment Kevin Crisp, Director, Precious Metals, Dresdner Kleinwort Wasserstein< (94k)
The Official Sector Andy Smith, Principal Commodities Analyst, Mitsui Global Precious Metals< (94k)
Promoting Physical Gold Bernhard Schnellmann, Argor-Heraeus SA (103k)
Questions and Answers (153k)