Paul Thomen

Thursday, 1 November 2012

West Africa Mining Report Q1 2013

West Africa’s mining sector is set to grow rapidly as investment pours into the region’s phenomenal
mineral wealth. Much of this growth will be focused on iron ore and gold as the region has untapped and
high-grade reserves of both metals. We expect the bulk of the growth in the mining sector to be towards
the end of the forecast period as many of the projects are still in their early stages of development.

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We expect West Africa, particularly Sierra Leone and Guinea to exhibit some of the fastest rates of
growth in iron ore production over the coming years which will make both countries major global
exporters by 2016. Elsewhere we see strong growth in gold production in Ghana, Côte d’Ivoire, Mali and
Burkina Faso as elevated prices and an improved business climate attract investment.
The key risks to this bullish outlook are the region’s perennially weak infrastructure with power supplies
and road and rail routes struggling with current demands, let alone the rapid growth we forecast.
Furthermore we expect governments to increasingly see their mining sectors as ‘cash cows’ and will seek
to raise revenues from their mining sectors, and we highlight Guinea and Mali as most at risk from higher
taxes and greater government intervention.

Report Details:

Published: Oct 2012

No. of pages:86

Price: Single User License: US $1175    


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