Bulgaria Mining Report 2016 - Business Monitor International - Industry Reports

Bulgaria Mining Report 2016

Bulgaria Mining Report 2016 - Business Monitor International - Industry Reports
Bulgaria Mining Report 2016
Published Feb 27, 2016
45 pages — Published Feb 27, 2016
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Abstract:

...Indeed, the Maritsa Iztok thermal power plant which accompanies the mine generates roughly -- of Bulgaria s power supply. ...The expansion is underway and explains the steady growth in coal output over the last few years. This scenario contrasts with the one facing other major European coal producers, including Germany, Plan and the Czech Republic, Where output is forecast to slow significantly due to falling export revenues and governmental pressures to reduce carbon emissions. There are relatively few downside risks to our outlook, though we note that Bulgaria s coal output was impacted by a brief strike in ----, during which workers sought improved working conditions and higher wages. Because of Bulgaria s size, the reduced coal supply forced the Maritsa Iztok thermal power plant, which generates roughly -- of Bulgaria s power, to stop exporting electricity. While the strike ended after only a week, the risk remains that miners may lay down tools again in the future if the company does not fulfil its promises to improve working conditions

...We have revised our outlook for coal mining upwards in reflection of ongoing expansion plans by state- owned mining company Maritsa Iztok EAD; we forecast coal production to grow by -.- in ---- and by -.- a year on average through to ---- to reach just under --mn tonnes. Bulgaria s government is also reportedly devising a national mining strategy that seeks to support the sustainable development of the industry through to ----. ...We have revised our outlook for coal mining upwards in reflection of ongoing expansion plans by state- owned mining company Maritsa Iztok EAD; we forecast coal production to grow by -.- in ---- and by -.- a year on average through to ---- to reach just under --mn tonnes. Bulgaria s government is also reportedly devising a national mining strategy that seeks to support the sustainable development of the industry through to ----. Coal mining, in particular, plays a key role in terms of power generation in the country and is likely to remain an important industry going forward. ...We forecast average thermal coal prices to fall to USD--/tonne in ----, while the price of copper will slip to USD-,---/tonne. We see the current low-price environment persisting through to ----, with moderate growth occurring during this period.

...BMI View: Bulgaria s mining sector is relatively underdeveloped for a country of its size and is considerably smaller than those of the other Central and Eastern European nations, including Romania and Poland. Mining activity in the country is currently focused on two core minerals, coal and copper. Both sub-sectors are heavily consolidated with one key company dominating production in both cases. Expansion in mining production will be relatively moderate over the forecast period to ---- as, with the majority of mined production used for domestic usage, there is relatively little incentive to expand capacity. That said, the sector is better insulated against global headwinds, namely the ongoing contraction in global commodity prices, than those of larger countries. ...

  
Source:
Document ID
1755-7941
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Bulgaria Mining Report 2016" Feb 27, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Bulgaria-Mining-Report-2016-2026-770>
  
APA:
Business Monitor International - Industry Reports. (2016). Bulgaria Mining Report 2016 Feb 27, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Bulgaria-Mining-Report-2016-2026-770>
  
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