West Africa Mining Report

 Published On: May, 2016 |    No of Pages: 98 |  Published By: BMI Mining | Format: PDF
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BMI View: West Africa's growth outlook will remain weak due to both low mineral prices and countries' inadequate infrastructure over the coming quarters. The region's long-term growth outlook remains promising due to countries' vast untapped mineral reserves, positive foreign investment outlook and infrastructure developments.

Latest Developments & Structural Trends
■ Political risk in Sierra Leone will increase over the next 18 months as allegations over the misappropriation and misuse of funds for combating Ebola reflect badly on President Ernest Bai Koroma as he seemingly looks for an unconstitutional extension to his time in office (see: 'Corruption Will Dent President's Ambitions', March 3).
■ In 2015, Rusal announced the signing of a Multi-User Operation Agreement on existing railway infrastructure at the Company's Dian-Dian project in Guinea. The Agreement allows the transportation of bauxite, including that mined at Dian-Dian, using the existing railway infrastructure in the Boke province and creates an environment for the further development of project transport infrastructure.
■ Guinea's iron ore production will be supported by Rio Tinto's partnership with the Guinean government to construct a maritime terminal and the 'Trans-Guinean Railway'. The railway will link south-east Guinea with the coast along the Southern Growth Corridor and will be essential for iron ore transport from the Simandou mine.

BMI Industry View ... 7
Table: Select Countries - Mining Industry Forecast . . . . . 7
Latest Developments & Structural Trends .. 7
SWOT ...... 9
Industry Forecast .. 11
Guinea Bauxite: Set For Solid Growth ...... 11
Latest Developments . 11
Table: Guinea - Bauxite Production & Growth . . 11
Table: Guinea - New Projects . . 12
Structural Trends ..... 13
Political Risks To Outlook .. 15
Guinea Iron Ore: Recovery To Pick Up By 2017 .. 16
Latest Developments . 16
Table: Guinea - Iron Ore Production & Growth . 16
Table: Guinea - New Iron Ore Projects . . . . 17
Structural Trends ..... 18
Sierra Leone: Growth To Recover In The Long Term ..... 22
Latest Developments . 22
Table: Sierra Leone - Iron Ore Mine Production 22
Structural Trends ..... 22
Table: Sierra Leone - Key Infrastructure Projects . . . . . 25
Mauritania: Gold To Contract, Iron Ore To Be Weak .... 27
Latest Developments . 27
Table: Mauritania - Mine Production & Growth . 27
Table: Mauritania - New Iron Ore Mining Projects . . . 28
Structural Trends ..... 29
Price Weakness To Subdue Investment Outlook .. 30
Infrastructure Weakness To Dampen Growth Outlook .. 31
Côte d'Ivoire Gold: New Projects To Support Growth .... 33
Latest Developments . 33
Table: Cote d'Ivoire - Gold Production Forecast 33
Table: Côte d'Ivoire - Largest Gold Projects . . . . . 33
Structural Trends ..... 34
Liberia Iron Ore: Low Prices And Inadequate Infrastructure To Curb Growth ....... 37
Latest Developments . 37
Table: Liberia - Iron Ore Production Forecast & Growth . . . 37
Table: Liberia - New Iron Ore Projects . . . . 38
Structural Trends ..... 39
Business Environment To Remain Relatively Stable ..... 41
Mali Gold: Growth To Pick Up By 2019 ... 42
Latest Developments . 42
Table: Mali - Gold Production Forecast . . . 42
Structural Trends ..... 43
Ghana Gold: Growth To Be Modest  46
Latest Developments . 46
Table: Ghana - Gold Production & Growth 46
Structural Trends ..... 47
Government Shows No Sign of Easing Taxes ..... 50
Industry Risk Reward Ratings  53
Guinea - Mining Risk/Reward Index  53
Rewards ........ 53
Industry Rewards ..... 53
Country Rewards ..... 53
Risks .... 53
Industry Risks . 53
Country Risks . 53
Liberia Risk/Reward Index ... 54
Rewards ........ 54
Industry Rewards ..... 54
Country Rewards ..... 54
Risks .... 54
Industry Risks . 54
Country Risks . 55
Africa - Risk/Reward Index ... 55
Key Takeaways ........ 55
Latest Revisions ....... 56
Table: Africa - Mining Risk/Reward Index . 57
Regulatory Development ........ 58
Commodities Forecast .. 62
Commodities Outlook . 62
Table: BMI Commodities Price Forecasts . . 62
Competitive Landscape . 63
Table: West Africa: Key Mining Companies' Financial Metrics . . . 64
Structural Trends: .... 64
Company Profile .... 65
Global Company Strategy - Randgold Resources - Q3 2016 ..... 65
Table: Select Commodities Forecasts 67
Company Analysis .... 67
Latest Financial Results ..... 69
Table: Randgold Resources - Key Financial Data . . . . . 71
Global Company Strategy - Rio Tinto ....... 72
Table: Select Commodities - Price Forecasts . . . . 74
Company Analysis .... 74
Table: Rio Tinto - Key Projects . 80
Table: Rio Tinto - Key Financial Data . . . . . 81
Global Company Strategy - AngloGold Ashanti - Q3 2016 ....... 82
Table: Select Commodities - Price Forecasts . . . . 84
Company Strategy .... 86
Table: AngloGold Ashanti - Key Financial Data . 87
Regional Overview  88
Table: SSA - Government Involvement In Mining Sector . . . . 93
Methodology . 95
Industry Forecast Methodology .... 95
Sources  96
Risk/Reward Index Methodology ... 97
Table: Weighting Of Indicators . 98
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