Gecamines May Make Initial Public Offering By 2015
News: The Democratic Republic of Congo ' s state-owned mining company Gecamines has stated that it may make an initial public offering before the end of 2015 in a bid to raise funds for its development projects, Mineweb reports. The company stated that it is trying to certify around 8mn tonnes of copper reserves to attract investors and that it may go public in the near future.
BMI View: With several large expansion plans on the horizon, we forecast copper output in the Democratic Republic of the Congo (DRC) to grow at an annual average rate of 6.2%, reaching 821 thousand tonnes (kt) in 2017 from 608kt in 2012. The country will remain attractive to investors due to its high-grade reserves, which are among the best in the world. However, significant risks remain, not least regarding security and the political situation.