Congo Mining Report Report Q4 2012

Executive Summary

The Democratic Republic of the Congo (DRC)'s vast mineral resources will continue to attract greaterinternational interest, given the country's huge untapped and high-grade reserves and an improving,though still very poor business environment. In terms of growth potential, the industry is one of the mostattractive in Sub-Saharan Africa (SSA), as we forecast the sector to almost double from 2010 levels toUS$6.0bn in 2016, mostly driven by copper and gold production. However, while we expect substantialgrowth in mining output, risks to investment remain numerous with security concerns and lack ofadequate infrastructure most pressing.