Slovakia Mining Report 2015
BMI View: Slovakia's mining industry is small relative to most other European markets. It is expected toremain as such through to the end of our 2015-2019 forecast period, with lignite production continuing todominate overall output. Growth during this period will be undermined by the weakness in globalcommodity prices, which threaten to delay existing projects. However, we note longer-term growthpotential in certain sub-sectors including gold and possibly uranium.
Slovakia's mining sector is currently one of the smallest in Europe, dwarfed by those of its Central andEastern European neighbours, namely the Czech Republic, Poland and Austria. In local terms, the market isalso negligible in size, accounting for just 0.3% of GDP in terms of its overall value or about USD270mn.
Despite its limited stature, there is, however, relatively strong long-term potential for Slovakian mining.
While mining of brown coal or lignite currently dominates mining expenditure and employment, thecountry's gold mining sector holds considerable promise. Sizeable reserves have attracted the attention of anumber of international investors, including Cyprus-based EMED Mining and Canadian companyTournigan Gold, with recent exploration returning promising results in terms of grades and reserves.
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