Rob McEwen, chairman and chief owner of McEwen Mining Inc (NYSE:MUX), recently gave an exclusive interview to The Northern Miner, and opined his views on what to expect from the company in 2017.
What to expect from mining industry in 2017?
The year that has gone by, did not offer a pot of good luck to the mining industry. So, what can be expected in the times to come? However, the U.S. elections 2016 have changed the way things worked. According to Rob McEwen, Donald Trump looks a promising person to change the economy and take it to the stronger side.
The mining industry, on the whole, might expect easy regulations, lower taxes; approval of capital investments at a faster speed and repatriating incentives as far as offshore profits of U.S. localities is concerned.
Gold trading in narrow band
The price of gold is largely affected by the political scenarios in the country. We had earlier witnessed that the gold was ruling the market in 2016, expecting Democrats to take away the victory band. However, with Republicans emerging as the clear winners, gold prices started dwindling. Rob McEwen explains that since the U.S. elections, gold has shown a downward trend. The prices zero in at European and Asian markets, while finally squashing at the American markets.
According to Rob McEwen, the “gold price outlook is US$1,800 by year-end 2017.”
Innovation to improve revenues for miners
Mining industry, on the whole, may prove to be vital for the future of Canada. From what was learnt from the interview of McEwen Mining Inc CEO, there is a huge prospect of miners winning the game in 2017, provided they go for innovations. By infusing new technologies at work and engaging inter or intra industry people so as to cross-fertilize the mining industry, it may turn out to be a game in favour of miners this year.
