New Market Research Report: Zimbabwe Mining Report Q1 2014
New Materials market report from Business Monitor International: "Zimbabwe Mining Report Q1 2014"
[USPRwire, Thu Jan 30 2014] Despite abundant reserves, Zimbabwe will achieve only modest growth over the forecast period to 2017 due to weak global prices and a deteriorating business environment. Platinum production will be the main driver of growth, while growth in diamond output will be modest and the country will remain a very small producer of gold.
Zimbabwe is richly endowed with deposits of chrome, gold, nickel, diamonds and platinum, among other minerals. Its gold reserves are among the largest in Africa, while it has the world's second largest platinum reserves. Another segment that has caught the attention of miners in Zimbabwe is diamonds, following the discovery of a number of significant kimberlites. Zimbabwe's diamond reserves are measured to be the second largest globally after Russia.
The 2013 election victory of ZANU-PF is likely to spell trouble for the future of the mining industry. The possibility of indigenisation without compensation as well as greater political interference in the sector, constitute significant threats to foreign mining companies. We expect investor sentiment to sour towards Zimbabwe, diverting investment to other African countries where the regulatory environment is more attractive.
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