Thursday, 14th February 2008 (1488 views)

Increasing market prices driven by demand for gold is creating new opportunities for mining companies in both new and existing gold locations around the world, a new report on the sector has said.

Under-explored, developing countries including Cambodia, Thailand, Indonesia and Brazil are among the main targets for new exploration, the study says, with junior firms like Southern Gold, Mundo Minerals and Emperor Mines already on the ground.

Numerous development firms are also emerging in Western Australia, the report adds.

The study, which was carried out by Resource Capital Research (RCR), examines 16 global gold exploration, development and production companies in Australia, Canada, the US and the United Kingdom.

RCR managing director said that with market prices expected to maintain their levels and demand from countries such as China set to increase, the future prospects for the gold mining industry "remain strong".

Last year, world gold output totalled 2,444 tonnes, according to precious metals consultant GFMS.

 

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