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Namibia Mining Report Q1 2010

Latest News In December 2009, Namibia established a state-owned mining company, Epangelo Mining, to explore for minerals across its territory. The move comes as Namibia seeks to claim a greater share of its mineral wealth. Epangelo Mining will look at mining opportunities across all strategic mineral sectors, according to Mining Commissioner Erasmus Shivolo. In November 2009, Australian prospector Avonlea Minerals confirmed an 11.5km iron ore deposit within its Nail and Bronzy prospects. Avonlea has been exploring for iron ore in Namibia since July 2009, through its 95%-owned Eris Mining subsidiary when it received five exclusive prospecting licences. The company also possesses an exclusive reconnaissance licence, meaning that it has access to explore some 12,000 square km of Namibia. New Data For 2010, BMI has made significant changes to the way in which we forecast mining data. As well as using local statistics agencies and associations, we now also draw on the expertise of the UN's Industrial Commodity Statistics Database, the US Geological Survey and the World Bureau of Metal Statistics for our historical export and production data. We then forecast this data using our own proprietary econometric model. Human intervention also plays a necessary and desirable role in our mining forecasting; experience, expertise and knowledge of industry trends and developments ensuring that we can spot likely future changes and anomalous data that a purely mechanical model would not. Country Overview Namibia is richly endowed with natural resources; in particular uranium and diamond deposits. The country is the world's fourth-largest producer of uranium and among the largest gem-quality diamond producers in value terms. It also features among the top five nations around the globe for its zinc, copper and lead reserves. To expand the revenue earning potential of its mining industry, the Namibian government is making fervent efforts to establish a strong domestic market for diamond cutting and polishing. Taken together, these factors underscore the importance of the Namibian mining industry for its economy. The Namibian mining industry needs to gain a foothold in certain areas to further enhance its prospects, particularly as diamond production appears to slow down. Lack of water resources is a key factor that discourages investments in the mining industry. As a result of the nation's underperforming infrastructural facilities, mineral exploration has been slow, thus constraining the growth of the Namibian mining industry. On the other hand, recognising the vital role uranium is set to play in the country's future, processes have been initiated to revise and amend the Minerals Act, to align regulations that allow judicious exploitation of the resource. Industry Forecast After a challenging 2009, there are reasons for cautious optimism on the Namibian mining sector as we enter 2010. Demand for diamonds should pick up over the course of the year and the country's burgeoning uranium sector should continue to grow strongly. We also now feel that the outlook for the copper sector is better than it has been for some months. BMI believes the Namibian mining sector can reach an average annual growth rate of 4.79% over our forecast period to 2014, reaching a value of US$0.864bn.
Published on: Mar 3, 2016
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Transcripts - Namibia Mining Report Q1 2010

  • 1. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email!Namibia Mining Report Q1 2010Published on January 2010 Report SummaryLatest NewsIn December 2009, Namibia established a state-owned mining company, Epangelo Mining, to explore for minerals across its territory.The move comes as Namibia seeks to claim a greater share of its mineral wealth. Epangelo Mining will look at mining opportunitiesacross all strategic mineral sectors, according to Mining Commissioner Erasmus Shivolo.In November 2009, Australian prospector Avonlea Minerals confirmed an 11.5km iron ore deposit within its Nail and Bronzyprospects. Avonlea has been exploring for iron ore in Namibia since July 2009, through its 95%-owned Eris Mining subsidiary when itreceived five exclusive prospecting licences. The company also possesses an exclusive reconnaissance licence, meaning that it hasaccess to explore some 12,000 square km of Namibia.New DataFor 2010, BMI has made significant changes to the way in which we forecast mining data. As well as using local statistics agenciesand associations, we now also draw on the expertise of the UNs Industrial Commodity Statistics Database, the US Geological Surveyand the World Bureau of Metal Statistics for our historical export and production data. We then forecast this data using our ownproprietary econometric model. Human intervention also plays a necessary and desirable role in our mining forecasting; experience,expertise and knowledge of industry trends and developments ensuring that we can spot likely future changes and anomalous datathat a purely mechanical model would not.Country OverviewNamibia is richly endowed with natural resources; in particular uranium and diamond deposits. The country is the worldsfourth-largest producer of uranium and among the largest gem-quality diamond producers in value terms. It also features among thetop five nations around the globe for its zinc, copper and lead reserves. To expand the revenue earning potential of its miningindustry, the Namibian government is making fervent efforts to establish a strong domestic market for diamond cutting and polishing.Taken together, these factors underscore the importance of the Namibian mining industry for its economy.The Namibian mining industry needs to gain a foothold in certain areas to further enhance its prospects, particularly as diamondproduction appears to slow down. Lack of water resources is a key factor that discourages investments in the mining industry. As aresult of the nations underperforming infrastructural facilities, mineral exploration has been slow, thus constraining the growth of theNamibian mining industry. On the other hand, recognising the vital role uranium is set to play in the countrys future, processes havebeen initiated to revise and amend the Minerals Act, to align regulations that allow judicious exploitation of the resource.Industry ForecastAfter a challenging 2009, there are reasons for cautious optimism on the Namibian mining sector as we enter 2010. Demand fordiamonds should pick up over the course of the year and the countrys burgeoning uranium sector should continue to grow strongly.We also now feel that the outlook for the copper sector is better than it has been for some months.BMI believes the Namibian mining sector can reach an average annual growth rate of 4.79% over our forecast period to 2014,reaching a value of US$0.864bn. Table of ContentExecutive Summary ....6SWOT Analysis............8Namibia Mining Report Q1 2010 Page 1/4
  • 2. Find Industry reports, Company profilesReportLinker and Market StatisticsNamibia Political SWOT....... 8Namibia Economic SWOT .... 9Namibia Business Environment SWOT .... 10Special Focus: Outlook For Global Mining..........11Table: Biggest Chinese Acquisitions In Australia Since 2005 12Industry Trends And Developments ......15Overview ...... 15Regulatory Structure And Developments . 16Key Projects .18Copper ......... 18Manganese ... 18Lead, Zinc And Silver.......... 19Uranium ....... 19Minerals ....... 21Diamonds ..... 21Business Environment ....23Africa Mining Overview...... 23Table: Africa Mining Business Environment Ratings...... 24Namibias Mining Business Environment Ratings .......... 25Political Environment26Industry Forecast Scenario ............29Aluminium Price Outlook ... 29Table: BMIs Aluminium Price Forecast, 2009 And 2010 ..... 29Table: Aluminium Outlook, 2005-2010 .... 31Copper Price Outlook......... 31Table: BMIs Copper Forecast, 2009 And 2010 ............. 31Table: Copper Outlook, 2005-2010 ......... 34Commodities Outlook ......... 34Table: BMIs Gold Forecast, 2009 And 2010 ... 34Global Industry Overview... 36Regional Overview 37Namibias Mining Industry Forecast ....... 40Table: Namibia Mining Industry Data and Forecast, 2007 2014 ...... 40Competitive Landscape ...42Table: Key Players In Namibias Mining Industry......... 42Company Monitor......43Diamond Fields International .... 43Namdeb Diamond Corporation (Namdeb) ........ 44Rössing Uranium .. 46Appendices ..47Appendix A: Global Assumptions ............. 47Table: Global And Regional Real GDP Growth, 2008-2011 (%) ......... 47Table: Global Assumptions, 2008-2014 ... 48Table: Developed Market Exchange Rates, 2008-2011 (average) ........ 49Table: Emerging Market Exchange Rates, 2008-2011 (average) ......... 49Appendix B: Business Environment Ratings Methodology ..... 50Table: Mining Business Environment Indicators ............ 51Table: Weighting Of Components ............ 52Namibia Mining Report Q1 2010 Page 2/4
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