The LBMA Precious Metals Conference 2007

18-20 November

The Taj Mahal Palace Hotel - Mumbai, India

Unfortunately the failure of the AV company to record many of the speeches prevented us from producing a full set of transcripts for the 2007 Conference. All available transcripts and slides can be found below.

Session 1: Opening Session

Conference Inauguration and Welcome

Mr Sanjiv Batra, Chairman and Managing Director, MMTC Ltd

Opening Remarks

Jeremy Charles, LBMA Chairman
The Indian Gold Business: The World Market’s Powerhouse
Mr OP Bhatt, Chairman, State Bank of India
After Iraq: The Middle East and the World
John Simpson CBE, BBC World Affairs Editor

Session 2: Investment Efficiency in Precious Metals

Session 2 - all available speeches (1MB)

Introduction by the Session Chairman
James Burton, CEO, World Gold Council
Opportunities in Precious Metals Investment
David Holmes, Director - Precious Metals Sales, Dresdner Bank
Changing Nature of Physical Demand in India
Sunil Kashyap, Managing Director, Bank of Nova Scotia - ScotiaMocatta
Outlook for Indian Gold Investment
Jignesh Shah, Managing Director, MCX India
Investment Options: Metal vs. Equity
Trevor Steel, Managing Partner, Baker Steel Capital Managers LLP

Session 3a: Jewellery

Session 3a - all available speeches (1.2MB)
Introduction by the Session Chairman
Philip Klapwijk, Chairman, GFMS Ltd
Trends in the Chinese Gold Jewellery Market
Albert Cheng, Managing Director Far East, World Gold Council
PGM Marketing
James Courage, CEO, Platinum Guild International
Outlook for the Indian Market
Jatin Mehta, Chairman, Su-Raj Diamonds (India) Ltd

Session 3b: Mining

Session 3b - all available speeches (910k)
Introduction by the Session Chairman
Emma Jenkins, Director, EJJ Limited
Costs, Prices and Decision-Making in Gold Mining
James Mavor, Vice President and Treasurer, Barrick Gold Corporation
Junior Mining Activity
Stephen A Forrest, Director and Principal Analyst, SFA (Oxford) Limited
Questions and Answers

Session 4a: Industrial Demand

Session 4a - all available speeches (680k)
Introduction by the Session Chairman
Ross Norman, Director, TheBullionDesk
Gold is Green: Breaking News from the Industrial Front
Chris Corti, Managing Director, COReGold Technology Consultancy and Consultant to World Gold Council
Indian Silver Consumption Bhargava Vaidya, BN Vaidya & Associates
Of Elephants and Yams: Thoughts on PGM Liquidity, Demand and Recycling
Tom Kendall, Precious Metals Strategist, Mitsubishi Corporation UK (k)

Session 4b: Official Sector

Session 4b - all available speeches (660k)
Introduction by the Session Chairman
Michael Paprotta, Member of the Management, Swiss National Bank
Management of Reserve Assets
Terrence Keeley, Managing Director – Client Relationship Director, UBS
Lease Rates
Raymond Key, Global Head of Metals Trading, Deutsche Bank

Session 5: The Super Cycle

Session 5 - all available speeches (660k)
Introduction by the Session Chairman
James Steel, Analyst, HSBC Bank USA (k)
Winners and Losers in the Commodities Super Cycle
Alan Heap, Managing Director – Global Commodities, Australia and
New Zealand Equity Research, Citibank (k)
The Next Big Story: Prospects for Economic Growth in India and China
David Fernandez, Head of Asia Sovereign Research, JPMorgan Chase Bank (k)

Session 6: Debate and Conference Summary

The motion: Precious Metal Prices are a Bubble Ready to Burst
Chairman – Stewart Murray, Chief Executive, LBMA
Pro – Jeffrey Rhodes, Chief Executive Officer, INTL Commodities DMCC
Con – David Davis, Mining Investment Analyst, Credit Suisse Standard Securities
Conference Summary
Kamal Naqvi, Director – Commodities – Head of Hedge/Institutional Fund Sales, Credit Suisse Inc (k)
Delegate Survey Questions
Kamal Naqvi, Director – Commodities – Head of Hedge/Institutional Fund Sales, Credit Suisse Inc (k)