Angola Mining Report Q1 2015

Business Monitor International
November 5, 2014
56 Pages - SKU: BMI5372011
Countries covered: Angola

Angola Mining Report Q1 2015

BMI View: Angola's mining industry is set to reach USD7.5bn in 2018, growing at an average rate of 5.3%a year. The rate of growth will remain stable thereafter, with diamonds providing the main thrust forproduction growth over the medium term. New areas of mining, including iron ore, copper and phosphates,are also receiving increasing international interest from investors and are expected to provide furthermomentum for Angola's mining sector over the long term. That said, we do not expect the mining sector toreceive much attention from the government as the country's burgeoning oil sector attracts the lion's shareof investment. Therefore, problems relating to mining such as poor infrastructure and stringentbureaucracy are unlikely to be resolved in the near term.

Government Aims Too Optimistic

Angola's government wants to boost diamond production by more than 20% in 2015. The potential increaseis attributed to the launch of a major maintenance project on the Catoca mine, which produces 87% ofAngola's diamonds. The country targets 9.5mn carats in production and 550,000 carats in artisanalproduction in 2015, according to Angola Geology and Mining Minister Francisco Queiroz. As yet, we seelittle chance that these aggressive expansion plans will come to fruition in the timeframe, primarily due tothe country's infrastructure impediments. That said, we still forecast significant growth of around 5% inmining output, below the government's targets but still relatively high.



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