Minbos Resources To Sell DRC Phosphate Projects
News: Australian exploration and development company Minbos Resources has announced plans to sell its phosphate assets in the Democratic Republic of Congo (DRC) in a bid to focus on its Cacata project in Angola, Mining Weekly reports. The company stated that it has given its DRC joint venture partner Allamanda Trading the first right of refusal for the projects and that it has until the end of October 2013 to make an offer .
BMI View: The Democratic Republic of the Congo (DRC)'s vast mineral resources will continue to attract greater international interest, given the country's huge untapped and high-grade reserves and improving, though still very poor, business environment. In terms of growth potential, the industry is one of the most attractive in Sub-Saharan Africa (SSA). We forecast the value of the sector to rise sharply from 2011 levels to US$2.5bn in 2017, mostly driven by copper and gold production. However, while we expect substantial growth in mining output, risks to investment remain numerous, with security concerns and the lack of adequate infrastructure most pressing.