Mining Industry Update – Q1 2015
The metals and mining sector is forecasted to remain stable through 2015 despite slower growth and the prospects for lower commodity prices. Depreciation of key mining economies such as the Australian Dollar, South African Rand, Brazilian Real, Russian Ruble, and Canadian Dollar relative to the US dollar has provided relief on costs allowing producers to keep supply high even as prices fall. Key issues going forward include focus versus diversification and how low prices must fall to drive excess supply out of the market.
However, if you are looking for a job within the mining industry you can expect to see some opportunities arise throughout the region, particularly within the January-March time frame.
According to a survey asking many of the worlds leading HR professionals, they report an employment outlook of +5% worldwide in the mining industry.
One of the leading gold market commentators Martin Murenbeeld has predicted the price in Gold to increase going into 2015 with increases from an average of just over $1,200 in the first quarter it is expected to rise above $1,300 by Q2 2016. He believes that the gold market may be finally turning with the price “potentially overshooting the upside.”
Some key trends to look out for is the market stranglehold from China. Due to the majority of the mining volume coming from China, any changes in the economy in China or within the industry is likely to fluctuate prices worldwide significantly.
Greater opportunities seem to lie in neighbouring New Zealand where the forecast is now stronger than at any point since Quarter 2 2007. New Zealand mining and construction industry is expected see more than four of 10 employers adding to their payrolls in the first three months of 2015 as indicated in the manpower Q1 survey.
With many of the gulf nations looking to strengthen its non-oil revenues (due to the recent decrease in oil price) the mining industry is expected to benefit with strong growth across the region.
Turkey and Northern Iraq are key areas of growth within the region however will remain on the periphery until political unrest can become stable. The key issues remain Iran’s negotiations with the western powers with the limited sanctions still in effect and continuing into 2015.
If negotiations are successful, it will give the mining sector a huge boost for Iraq and the region according to BMI’s 2015 report. “If negotiations are successful (which they currently give a likelihood of 25%), it will be a game-changer for the country’s beleaguered mining industry and could make the country a key centre of global mining investment in the coming years.”
To receive the latest job postings, upload your CV to our database now and receive a free CV appraisal
Login and upload your CV now