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Tuesday, 12th May 2009 (958 views)

Almost half of mining executives from around the world are optimistic or moderately optimistic about their companies' prospects in 2009, particularly those in the gold industry, a new study has revealed.

Despite the economic downturn, a poll by Canadian search and recruitment business Bedford Consulting Group found that 84 per cent of respondents think that mining growth is most likely to come from the gold sector.

Russ Buckland, managing partner of the firm, commented: "Gold is often considered a stable alternative currency and a safe haven, especially during times of economic uncertainty."

Priorities for recovery identified by the 130 executives quizzed included credit flow (89 per cent) and the start of new infrastructure projects (54 per cent), while 47 per cent expected their prospects to improve this year.

In related news, mining firm Citadel Resource Group revealed this week that its shareholders voted "overwhelmingly" in favour of a A$22 million (£11.1 million) capital raising, which will be used to develop the Jabal Sayid gold heap leach project in Saudi Arabia.

 

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