Greece's worsening economic conditions over the past five years will continue to have an adverse effect on its mining industry. Greece is one of the leading producers of bentonite and perlite in the world. Other key minerals in the country include bauxite, nickel and gold. Greek mining production volumes of (coal, nickel, bauxite, perlite and bentonite) is expected to decline by 3.2% in 2012. Mining production volume shrank by -6.62% during the review period (2007-2011), although it is projected to grow at a CAGR of 2.52% over the forecast period (2012-2016). The current decline in production volumes is mainly due to the recession that has affected the country during the review period. The production of coal and bauxite declined during 2010-2011, and this decline is expected to continue in 2012. However, the production of nickel, perlite and bentonite registered a positive growth during the same period, and is projected to continue growing over the forecast period. Coal production volume fell during the review period, although it is projected to grow at a CAGR of 1.14% over the forecast period. Coal is primarily used for power generation in Greece. During the review period, the demand for power in Greece declined as the country's industrial activity slowed due to poor economic conditions.