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Recently Released Market Study: Slovakia Mining Report 2014

Recently published research from Business Monitor International, "Slovakia Mining Report 2014", is now available at Fast Market Research

 

Boston, MA -- (ReleaseWire) -- 06/06/2014 -- We forecast limited growth opportunities in Slovakia's mining sector as weakness in gold prices prevents the take-off of the gold sector. Coal will remain the mainstay of the country's mining industry over our forecast period to 2018. Even so, growth in coal output will be subdued.

We expect Slovakia's mining industry to undergo modest growth in value, reaching USD0.41bn in 2018, from USD0.38bn in 2013. Coal will remain the mainstay of the sector as gold mining fails to make significant gains as a result of weak global gold prices delaying project development as miners slash capital expenditure.

Over the long term we maintain that gold mining holds promise. New exploration activities for gold have been launched, which are attracting foreign investment namely from Cyprus-based EMED Mining and Canadian company Tournigan Gold. Though exploration of new deposits has returned promising results of grades and reserves, the opportunities for growth and investment are modest compared to Slovakia's global mining counterparts.

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Although the country's mining industry is considerably less mature than those of its neighbours, the sector continues to attract investment from foreign miners. In 2011, Canadian exploration and development firm Global Minerals reported positive results from drilling at its Strieborna silver-copper antimony deposit in the south eastern town of Roznava. With the drilling programme completed, Global Minerals is expected to continue with permitting procedures, which it describes as being at an advanced stage. The company applied for an additional 120 square kilometres (km2) of exploration licences on the back of the results and plans to conduct initial reconnaissance of new targets in late 2012.

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