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CORPORATE FINANCE ADVISORY>>>>>CAPITAL | AFRICA<<<<<INTERNATIONAL BUSINESS DEVELOPMENT |
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CORPORATE FINANCE ADVISORY>>>>>CAPITAL | AFRICA<<<<<INTERNATIONAL BUSINESS DEVELOPMENT |
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Industry - MiningAn overview of the Mining sector in East Africa East Africa has been the major focus of Africa's gold exploration and development over the past five years. Focused primarily in Tanzania, the mining industry has grown about 15% in 2005, a major increase from the previous years' 12%. Up to 15% of Africa's exploration expenditure has been spent in Tanzania, thought to have Africa's largest gold reserves, after South Africa. Diamonds, gold, nickel and gemstones play key roles in East Africa's growing minerals industry. However, nearly all major developments have been seen in the gold sector. 2003 and 2004 have continued to see growth in Tanzania's mining industry, with gold mining exploration and gold production, gem stones mining and trading, as well as, small and artisanal mining activities experiencing a considerable increase. In 2004 the mining sector contribution to GDP rose to 3.2% from 3% in 2003 and the value of mineral exports rose to 17% in 2004 to US$ 672,5 million from US$ 554,1 million in 2003. As is stands, minerals make up over 52% of the country's exports, of which, a large part comes from gold.
Principle players in this sector are Anglogold, Ashanti Goldfields, Barrick Gold, Williamson and Resolute. |