New Market Research Report: MENA Mining Report Q4 2015

The mining sector of the Middle East and North Africa will see strong growth in over the coming year s, especially given easing sanctions on Iran . With low base effects, governmental will to increase non-oil revenues and significant resources it appears the region is set for strong growth. We highlight Turkey and Northern Iraq as key areas for growth. That said, the region will remain peripheral in the global mining sector as it continues to underperform due to political instability in much of the region.

The key issue in the Middle East's mining sector presently is Iran's ongoing negotiations with Western powers. Our core scenario is for sanctions to be eased from Q116 which will have be a game changer for the country's beleaguered mining industry and could make the country a key centre of global mining investment in the coming years.

The key area for growth in the MENA region will be in gold. Although we are forecasting lower average gold prices over the coming quarters, we expect prices to remain elevated by historical standards. Given the relatively low cash costs for gold production, as well as low base effects, we expect to see substantial growth rates over the coming years.

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The majority of capacity additions in phosphates coming years will be coming from Saudi Arabia and Morocco. Ma'aden in Saudi Arabia began diammonium phosphate (DAP) production in 2011 and will reach the steady-state production rate of 3mnt (mn tonnes) DAP by 2015. The Office Cherifien des Phosphates (OCP) will also be adding significant new capacity to the market in 2016. As producers from Saudi Arabia and Morocco generally sit on the left side of the cost curve, some high-cost capacity (typically Chinese producers), who do not have access to lower-cost rock may be displaced.

The MENA Mining Report has been researched at source and features BMI Research's mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values. The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's MENA Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI's independent forecasts and competitive intelligence on the mining industry in Iran, Saudi Arabia, Iraq, Turkey, Egypt, Morocco.

Key Benefits

* Use BMI's independent industry forecasts on Iran, Saudi Arabia, Iraq, Turkey, Egypt, Morocco to test other views - a key input for successful budgeting and planning in this mining market.
* Target business opportunities and risks in Iran, Saudi Arabia, Iraq, Turkey, Egypt, Morocco's mining sector

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