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BEIJING OLYMPIC MEDALS COST $1.2 MILLION TO PRODUCE
Dick Johnson submitted the following item about the cost of producing the medals for the 2008 Olympics. -EditorA news article revealed the cost of the medals to be awarded at the Beijing Olympics next month -- $1.24 million in contrast to $429,000 in Athens four years ago. That makes every Chinese Olympic medal cost $393 on average. The article tells of the metal supplier and who won the battle to supply this to China.
Analysis of base metal prices between the Athens Olympics of 2004 and last month, when the Beijing organising committee took delivery of the 6,000 medals that will be draped around athletes' necks, reveals that the total cost of the medals has increased from $469,000 to $1.24m, a rise of nearly 200 per cent.
Ironically, given the location of next month's Games, much of the impetus for the surge in commodity prices in recent years has come from China's insatiable appetite for raw materials to fuel its economic expansion.
To read the complete article, see: Why Beijing Olympic medals are worth their weight in gold (http://www.telegraph.co.uk/money/main.jhtml?
Wayne Homren, Editor
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