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New market study, "Tanzania Mining Report Q2 2011", has been published

Recently published research from Business Monitor International, "Tanzania Mining Report Q2 2011", is now available at Fast Market Research

 
PRLog - Apr. 8, 2011 - Strong Results From African Barrick Gold

In February 2011, African Barrick Gold (ABG), Tanzania's largest gold mining concern, announced highly positive preliminary financial results for 2010, although production was slightly lower than expected. The company announced revenue growth of 37.3% y-o-y to US$975mn, while profits were up by a staggering 272%, to US$218mn in 2010, on the back of elevated gold prices.

These stellar financial results came despite the company's relatively poor year in terms of production figures as gold output fell to 700,934 ounces (oz) in 2010, marking a 2% decline from 2009. ABG, which operates solely in Tanzania, saw a decline in output due to falling grades at the Tulawaka mine and reduced production due to fuel thefts at the Buzwagi mine, which accounts for 26.5% of the company's output.

Moving forward, we expect significant growth from ABG, with output set to increase from 700,000oz in 2010 to 1mn oz per annum by 2013. This is based on new projects coming on line and the expansion of existing mines. Over the longer term, the company is also developing the Tusker deposit (which is estimated to hold 2mn oz of high-grade gold), as well as the Golden Ridge project.

Country Overview

The Tanzanian mining industry is relatively small in terms of value, but its importance is highlighted by the fact that mining earns a significant share of the country's export revenues. The mining sector contributes approximately 2.7% to annual GDP, but the government wishes to expand this to 10% by 2025. Major foreign investors in Tanzanian mining include African Barrick Gold (ABG) and AngloGold Ashanti.

Tanzania is home to deposits of many metals and minerals, including: coal, cobalt, diamonds, gold, nickel and uranium. The country has long been a significant producer of gold (currently Africa's fourth largest producer) and diamonds. However, in the coming years, we also expect coal, nickel and uranium production to become key sub-sectors of Tanzanian mining output. Indeed, we have long held the view that coal should become one of the fastest-growing mining sub-sectors in Tanzania over the coming years, as the country looks to coal-fired power stations to offset an energy shortage that is holding back its development. The country could also be in a position to export coal in the future.

Industry Forecast

We are optimistic on the outlook for Tanzania's mining industry, currently forecasting average annual growth of 7.7% over our forecast period to 2015. Gold production should increase as new projects are developed, with large-scale commercial coal and uranium mining also likely to commence over the coming years. Nickel mining should also commence, with two major mining companies developing projects in country.

Lastly, diamond production and exports will fall sharply during 2011, due to the temporary closure of the Williamson mine for redevelopment works. However, once diamond mining resumes in late 2011, we expect diamond output to reach new heights, given mine owner Petra Diamonds' plans to increase output to 600,000 carats per annum over the medium term.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/130622_tanzania_mining_report_...


Report Table of Contents:

SWOT Analysis
- Tanzania Political SWOT
- Tanzania Economic SWOT
- Tanzania Business Environment SWOT
Global Mining Outlook
- Table: Key Developments In The Global Mining Sector
- Table: Key Global Mining Output Developments
Industry Trends And Regulatory Structure
- Overview
- Regulatory Structure And Developments
Key Projects
- Metals
- Gold
- Nickel
- Uranium
- Minerals
- Diamonds
- Coal
Business Environment
- Africa Mining Business Environment Ratings
- Table: Africa Business Environment Ratings
- Tanzania's Business Environment Outlook
- Table: BMI's Business And Operation Risk Ratings
- Table: BMI's Legal Framework Rating
- Table: Labour Force Quality
- Table: Foreign Direct Investment Inflows Into The Middle East And Africa, 2006-2008
- Table: BMI's Trade And Investment Ratings
- Table: Tanzania's Top Export Destinations, 2000-2008 (US$mn)
Political Environment
- Domestic Politics
- Long-Term Political Outlook
Industry Forecast Scenario
- Table: Tanzania's Mining Industry, 2008-2015
Competitive Landscape
- Table: Key Players In Tanzania's Mining Sector
Company Monitor
- African Barrick Gold
- IMX Resources
- Midlands Minerals Tanzania
Commodity Strategy - Metals Update
- Aluminium
- Copper
- Lead
- Nickel
- Tin
- Zinc
- Gold
Global Assumptions, Q211
- Table: Global Assumptions, 2009-2015
- Table: Regional Real GDP Growth, 2010-2013 (% change y-o-y)
- Table: Selected Exchange Rates, 2010-2013 (average)
- Developed States
- Table: Developed States' GDP Growth, 2010-2013 (% change y-o-y)
- Emerging Markets
- Table: Emerging Market's GDP Growth, 2010-2013 (% change y-o-y)
- Consensus Forecasts
- Table: Consensus Forecasts, 2011 And 2012
Business Environment Ratings Methodology
- Table: Mining Business Environment Indicators
- Table: Weighting Of Components

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

# # #

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

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Tags:mining, tanzania, Coal, gold, barrick, ACT, abg, african, tanzanian, atomic
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