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Namibia Mining Report Q2 2010

Weatherly Sells Tsumeb Smelter To Dundee In January 2010, Weatherly International sold the Tsumeb Custom Smelter to Canadian concern Dundee Precious Metals for some US$33mn. Dundee has already announced plans to double the capacity of Tsumeb to 240,000 tonnes per annum (tpa). The doubling of capacity will reportedly be achieved by building a new oxygen plant, which will enable the smelter to take more concentrates at lower unit costs, according to a report by MetalBulletin. As such, the plant will not only be able to take around 120,000 tonnes of material per year from Dundee Precious Metals' Chilopech mine in Bulgaria, but will also be able to refine copper materials from Botswana, Zambia and possibly also the Democratic Republic of Congo, where the company is scoping the potential for deals with copper producers. Regulatory approval for the Tsumeb sale was granted by the Namibian Competition Commission at the end of February 2010. New Data or 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 very challenging 2009, when the industry shrank significantly, 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 key copper sector is better. BMI believes the Namibian mining sector can reach an average annual growth rate of 3.23% over our forecast period to 2014, reaching a value of US$0.74bn.
Published on: Mar 3, 2016
Published in: Business      Technology      
Source: www.slideshare.net


Transcripts - Namibia Mining Report Q2 2010

  • 1. Find Industry reports, Company profilesReportLinker and Market Statistics >> Get this Report Now by email!Namibia Mining Report Q2 2010Published on March 2010 Report SummaryWeatherly Sells Tsumeb Smelter To DundeeIn January 2010, Weatherly International sold the Tsumeb Custom Smelter to Canadian concern Dundee Precious Metals for someUS$33mn. Dundee has already announced plans to double the capacity of Tsumeb to 240,000 tonnes per annum (tpa). The doublingof capacity will reportedly be achieved by building a new oxygen plant, which will enable the smelter to take more concentrates atlower unit costs, according to a report by MetalBulletin. As such, the plant will not only be able to take around 120,000 tonnes ofmaterial per year from Dundee Precious Metals Chilopech mine in Bulgaria, but will also be able to refine copper materials fromBotswana, Zambia and possibly also the Democratic Republic of Congo, where the company is scoping the potential for deals withcopper producers. Regulatory approval for the Tsumeb sale was granted by the Namibian Competition Commission at the end ofFebruary 2010.New Dataor 2010, BMI has made significant changes to the way in which we forecast mining data. As well as using local statistics agencies andassociations, we now also draw on the expertise of the UNs Industrial Commodity Statistics Database, the US Geological Survey andthe World Bureau of Metal Statistics for our historical export and production data. We then forecast this data using our own proprietaryeconometric model. Human intervention also plays a necessary and desirable role in our mining forecasting; experience, expertiseand knowledge of industry trends and developments ensuring that we can spot likely future changes and anomalous data that apurely 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 very challenging 2009, when the industry shrank significantly, there are reasons for cautious optimism on the Namibian miningsector as we enter 2010. Demand for diamonds should pick up over the course of the year and the countrys burgeoning uraniumsector should continue to grow strongly. We also now feel that the outlook for the key copper sector is better.BMI believes the Namibian mining sector can reach an average annual growth rate of 3.23% over our forecast period to 2014,reaching a value of US$0.74bn. Table of ContentExecutive Summary ..............5SWOT Analysis .7Namibia Mining Report Q2 2010 Page 1/4
  • 2. Find Industry reports, Company profilesReportLinker and Market StatisticsNamibia Political SWOT .......... 7Namibia Economic SWOT ....... 7Namibia Business Environment SWOT ......... 8Industry Trends And Developments .........9Overview ..... 9Regulatory Structure And Developments .... 10Key Projects ....12Metals ............ 12Copper ...... 12Lead, Zinc And Silver ............. 13Uranium .... 13Minerals ......... 14Diamonds .. 14Business Environment .......16Africa Mining Overview ......... 16Africa Mining Business Environment Ratings ...... 16Table: Africa Mining Business Environment Ratings ................ 17Namibias Mining Business Environment Ratings .................... 17Political Environment ..........19Industry Forecast Scenario .20Commodities Forecast Copper ................ 20Table: BMI Copper Forecast . 20Table: Copper, 2005-2011 ..... 22Commodities Forecast Aluminium ........... 22Table: BMI Aluminium Forecast ................ 22Table: Aluminium, 2005-2011 .................... 23Commodities Forecast Lead .................... 24Table: BMI Lead Update ....... 24Table: Lead, 2005-2011 ......... 25Global Industry Overview ...... 25Namibias Mining Industry Forecast .......... 26Table: Namibia Mining Industry Data and Forecast, 2007-2014 ................... 26Competitive Landscape ......28Table: Key Players In Namibias Mining Industry ................... 28Company Monitor ................29Diamond Fields International 29Namdeb Diamond Corporation (Namdeb) .. 31Rössing Uranium ................... 32Global Assumptions Q210 ..33Table: Global Assumptions, 2007-2014 ...... 33Table: Developed States Real GDP Growth, 2007-2012 ......... 34Table: Emerging Markets Growth, 2007-2014 (%) .................. 36Table: Global And Regional Real GDP Growth And Exchange Rates, 2007-2014 . 37Business Environment Ratings Methodology 38Table: Mining Business Environment Indicators . 38Table: Weighting Of Components ............... 40Namibia Mining Report Q2 2010 Page 2/4
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