Boston Consulting Group on Exploration and Mining (current affairs and future trends)

Yes, these are hard times (although I just started a new consulting project today and will likely add another in the next week or so) but it’s time we leave the gloom and doom talking and start thinking (and acting) on ways to improve.
I always like to pick ideas from well thought, well structured texts. I have just come across some recent (2015) BCG publications ( on the current state of affairs in Exploration and Mining:

A couple of other interesting documents are not available in pdf format but you can read them at:

Thanks to BCG for publishing these reports.

Crisis and the gold market in Portugal – Crise e mercado da ourivesaria em Portugal

Kgs Ouro Portugal
Gold (ton) used in jewellery sold in Portugal -rise and fall (blue – jewellery pieces locally manufactured; red – imported jewellery)
Portuguese GDP quarterly annual rate of change (%)
Portuguese GDP quarterly annual rate of change (%)
It’s the crisis, but not the 2008 one. The Portuguese gold jewellery market has shown a marked decrease since it’s heyday in 1999-2000 (either in gold content, USD or EUR value), paralleling the growth crisis of Portuguese economy – clearly unprepared for the EURO currency. Now a small fraction of its volume in 2000, the gold jewellery market seemed to stabilise with last year’s (hopefully) economic turning point.
The 2008 crisis had other effects on the Portuguese gold market, gold savings being traded for cash and generating a close to 1.000 MUSD gold export maximum in 2012. But that is the theme for another post.
Golden years ahead, perhaps, but not soon – neither for the economy nor for the Portuguese gold market.
A crise do crescimento português (gerada pela adopção do EURO, para a qual não nos preparámos) está espelhada no mercado nacional da ourivesaria, quer numa perspectiva de ouro contido – no primeiro gráfico, quer no seu valor (medido em EUR ou USD). Agora uma pequena fracção do seu volume e valor em 1999-2000, o mercado nacional de ourivesaria parece ter estabilizado, um efeito do ponto de viragem (esperemos…) da economia portuguesa.
A crise de 2008 (que muda de nome mas não acaba…) teve outros efeitos no mercado do ouro em Portugal, com a troca das poupanças em ouro dos Portugueses por dinheiro vivo e exportações de ouro que atingiram um máximo de quase 1.000 MUSD em 2012. Mas isto é tema de outro artigo.
Os anos de ouro vão, talvez, voltar, mas não é para já – nem para a nossa economia nem para a ourivesaria.