New Materials research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/26/2013 -- We are positive on the outlook for Botswana's mining sector over our forecast period, to 2017. Diamond output will remain the mainstay of Botswanan mining production, boosted by new projects being planned by both Gem Diamonds and Lucara Diamond Corp.; however, key mining projects, such as Discovery Metals' Boseto project, are also being developed in the copper, uranium and coal sub-sectors. Botswana's mining sector is on course for stable growth over the next few years and we forecast the sector to average 3.1% growth from 2012 to 2017, reaching a value of US$5.96bn by 2017.
Diversification The Priority
Botswana has been stepping up efforts to diversify its mining sector, with the government aiming to develop production of non-core minerals, including, coal, copper and precious metals. Our expectation for a continued slow recovery in the US and Europe, two of the main export markets for Botswanan diamond production, will hinder growth in the country.
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One key measure, introduced in recent months, has been the amendments made to the country's tax framework with the level of company tax having been reduced from a minimum of 25% to 22%. Botswana's Minister for Minerals, Ponatshego Kedikilwe, said the measures are aimed at encouraging foreign investment in areas of non-core mining including production of coal, copper and other minerals. Coal mining has enjoyed one of the largest boosts in recent months and the government is in the process of drawing up a national Coal Development Unit (CDU), which will oversee development of mining projects and transport infrastructure and will act as a go-between between the government and private investors.
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