Tag Archives | mining sector
Things are looking quite positive for the Zambian economy, which has experienced strong growth in recent years, with real GDP growth between 2005 and 2011 more than 6% per year. Moreover copper – the nation’s economic lifeblood – is doing well, and it appears that Zambia’s copper production may once again outstrip that of the DRC, regifting the former with its long-held title of Africa’s number one copper producer.
Wayne Jansen, global head of mining at KPMG, says that although the mining sector has been in survival mode in recent years, the growth starting to emerge in the global economy gives reason to hope that the situation is set to improve.
The future of mining in Ghana is dependent on the short- to medium- term outlook of the gold price, which will determine whether gold miners in the country are successful, and the government initiatives around tax reforms that have the potential to seriously affect the growth of the industry.
Ghana has been viewed as an investor-friendly mining destination in the past, but this perception may be challenged, says KPMG energy and natural resources advisory practice director and Mining in Africa services head, Ian Kramer.
A KPMG survey entitled Responses to the Climate Change Debate: KPMG Mining Industry Survey covered North America, the Asia Pacific region, Africa, the Middle East, and South America.
Ian Kramer, Director and Head of Mining in Africa for KPMG, says that the report found that less than 20% of global mining sector players believe that climate change is a significant driver for new initiatives in their organisation, with almost 50% of the sector reporting that their organisations had not quantified the potential cost of climate change into their business.
According to mining in Africa director, Ian Kramer, there will be significant opportunities and projects coming on stream in the African mining industry regardless of the decrease in demand experienced by various markets.
“Massive growth will be experienced in the next six months to a year and beyond – for example, investments in the coalfields in Mozambique, as well as the iron-ore market and existing and new investments in Guinea, but these may take longer than a year to come to fruition.”