“The Silver Tsunami is fast approaching,” says a new MRG survey, bringing an executive brain drain, “the likes of which will shake the industry to its very core.”
RENO (MINEWEB) – “In an unprecedented turn of events, only 14% of mining executives now hold a bearish outlook as to the overall strength of the industry over the next 6-12 months,” reported Mining Recruitment Group’s Mining Executive Outlook, Q3 2014 Monday. “This is down remarkably from the 64% of executives who held the same view at this point of last year and the 52% who were bearish as of Q4 13.”
Vancouver-based MRG’s survey, which was distributed the week of June 9th and completed by 232 mining leaders, found, “Not only are executives not nearly as bearish any more, the pendulum in now swinging in a big way in the other direction with 35% of respondents now holding a bullish outlook for the next 12 months.”
“This is a massive reversal in sentiment from the 9% who held the same view at this point last year and the 11% from our Q4 polling,” said the report. “Though the marketed decrease in bears is promising, 51% of executives hold a neutral view for the industry over the short term.”
When asked the same question with a three-year view, “executives appear to be relatively steadfast in their optimism, with 64% holding a bullish view,” wrote Andrew Pollard, MRG president. “This is relatively in line with the 66% of executives who were of the same opinion at this point last year, though down from the 74% of bulls from our Q4 polling.”
“In terms of what commodities will likely see the greatest gains over the next three years, gold and silver came out as the clear winners, with 59% and 57% of the multiple-selection vote, respectively,” said the report. “Coming in as a surprise to the list, with 53% of the executives expecting to see massive gains, was zinc.”
“A mere 27% are moderately-t-extremely concerned with the volatility in commodities prices moving forward, down sharply from 61% in Q4 and 54% from this time last year,” the report observed.
The commodities that executives view as having the highest likelihood of depreciating in value over the next three years are iron ore, uranium and molybdenum, respectively, with 38%, 36% and 28% of the vote.
Only 6% of executives expect the mining sector to perform worse in the next 12 months. “In fact, 65% of executives are anticipating the sector to perform better,” said the report.
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