Fast Market Research recommends "Mozambique Mining Report Q1 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 01/01/2014 -- Mozambique will be one of the major growth stories in the global mining sector, as a combination of investment into the country's sizeable coal reserves and a relatively strong business environment coalesce to provide rapid growth in output. We expect the value of the country's mining sector to grow from US$259mn in 2012 to US$724mn in 2017, and increase from 1.8% of GDP in 2012 to 2.9% in 2017.
Mozambique's nascent coal sector is set to take off in the next few years, boosting the country's mining industry. Almost all of the coal produced will be exported and thus Mozambique has the potential to become one of the largest global exporters, with India and China the main destinations. While the outlook for the sector is positive, there are concerns surrounding the capacity of the country's infrastructure to cope with the projected increase in mineral production over the next few years. However there have in fact been positive developments, with Mozambique's Nacala port ready to export its first shipment of coal from December 2013.
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The government plans to implement a revised mining code in a bid to streamline procedures and attract more investment to its booming coal sector. The government has stated that its new mining code will not change royalties or mining taxes, and is purely to speed up the licence process and reduce bureaucracy for mining investment, a move that appears to be wholly positive for the sector. However, the new code's date of implementation remains unknown.
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