Boston, MA -- (SBWIRE) -- 07/01/2014 -- Bulgaria's mining sector will remain a relatively small mineral producer in Eastern Europe focused primarily on supplying domestic industry. We forecast minimal production growth over the next five years. Bulgaria's mining sector value will grow very slightly from USD1.0bn in 2013 to USD1.1bn in 2018 . The country's main mineral commodities are coal and copper, with additional production of zinc, lead and gold.

We forecast Bulgaria's mining industry value to grow at an annual average rate of 1.2% from 2012 levels, reaching USD1.1bn in 2018, due to our expectations for weakening metals prices and little production growth. That said, modest interest in copper and gold resources could see increased investment in exploration and mine development in the coming years. Given its low domestic consumption needs, Bulgaria may find additional growth through mineral exports abroad to the rest of Europe. Bulgaria's mining sector will nevertheless remain quite small and account for around 2.0% of the economy.

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Though not a significant producer, gold exploration in Bulgaria is expected to remain strong. One trend we note across the Eastern Europe region is that despite having very small mining sectors, junior mining companies are investing in bringing older gold mines back into production and exploring for new deposits. Companies such as EurOmax Resources are raising capital to fund exploration and deposit development programmes in Bulgaria, which we believe could provide the sector with additional growth opportunities outside of copper and coal.

High Sector Consolidation

We expect Bulgaria's mining sector to remain highly consolidated within a few companies, given its small size and modest output. Copper and coal output are each dominated by a single company respectively, while gold exploration is more diversified across numerous junior exploration firms.

The Bulgaria Mining Report has been researched at source and features Business Monitor International (BMI)'s mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values. The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Bulgaria Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI's independent forecasts and competitive intelligence on the mining industry in Bulgaria.

Key Benefits

- Use BMI's independent industry forecasts on Bulgaria to test other views - a key input for successful budgeting and planning in this mining market.

- Target business opportunities and risks in Bulgaria's mining sector through our reviews of latest mining industry trends, regulatory changes and major deals, projects and investments in Bulgaria.

- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity), Key Projects Tables and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key forecasts and industry analysis, covering mining reserves, supply, demand and prices, plus analysis of landmark company developments and key changes in the regulatory environment.

Business Environment Ratings

BMI's Mining Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (mining companies and support service providers) in the regional mining market. The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Ratings products.

Key Projects

Details and analysis of all current and planned developments (new ventures, capacity expansion and other investments) across the sector broken down by metal/ore.

BMI Industry Forecasts

Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast. Indicators include:

- Mining Industry: Industry size (US$mn), real growth (%), % of GDP, employment ('000), workforce as % of total workforce, average wage (US$).

- Output:Production volumes ('000 tonnes, carats etc.) for all major metals, minerals, ores and gems mined in each state, including bauxite, copper, gold, coal, lead, silver, tin, titanium, uranium, zinc etc.

- Exports: Value of exports (US$mn) for all major metals, minerals, ores and gems mined in each state .

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