Bucharest, 10 December 2013 – After a very poor performance in 2012 and 2013, when the price of gold plummeted from the peak reached in 2011 of $1,900 per ounce to around $1,200, gold producers are mildly optimistic that the price of the yellow metal will make a modest comeback next year. 47% of gold producers expect the price to increase in the next 12 months, compared to 88% a year ago, according to PwC’s new Gold, silver and copper price report.

The worst performing metal this year was silver – with prices plummeting 40%. But silver miners are optimistic for 2014 with only 9% anticipating the price of silver to fall further next year.

Copper prices fell too, from $3.70 per pound at the start of the year to around $3 currently, but are expected to be stable in 2014 with nearly two-thirds of respondents (62%) predicting copper prices to remain around current levels.

“While 2013 has been a tough year for miners, the industry has faith that fundamentals will recover.

Gold, silver and copper may not reach record levels in the near future, but expect prices to increase alongside a stabilising global economy”, stated John Webster, Partner, Assurance Leader, PwC Romania.

Managing costs and finding financing are among the top priorities for miners amid less optimistic future price expectations. According to the report:

 Two-thirds (66%) of mining companies cite managing their spending as one of the most important business imperatives in 2014

 More than half (54%) of miners say raising financing is critical

 One in five (20%) of respondents highlight mergers and acquisitions as something they plan to pursue

For the coming year, 53% of miners said they anticipate going to the equity markets to raise capital, while 29% expect to raise project financing, and another 14% plan to rai