Mozambique Seeks Diamond Mining Help From Angola
News: Mozambique ' s resources minister Esperanca Bias has stated that the government is keen to develop the country ' s diamond mining industry and that Angola may help it to identify the location of its deposits, Mining.com reports. Bias also stated that she hoped the two countries would work together to ensure any developments adhere d to the Kimberley Process and that a team of government officials would meet with Angolan institutions during H213 .
BMI View: Mozambique will be one of the major growth stories in the global mining sector, as a combination of enormous coal reserves and sound business environment coalesce to provide rapid growth in output. We expect the value of the country's mining sector will reach US$735mn in 2017, from US$178mn in 2011. This growth supports our bullish view for the Mozambican economy and will see the mining sector rise from 1.5% of GDP in 2011 to 2.9% in 2017.