Botswana Market Research
The Botswana Market Research provides facts and figures stating that Norilsk Nickel (which is the biggest nickel company of Russia), will be extending its stay in Botswana. During the course of the economic recession which hi...
Botswana Market Research
The Botswana Market Research provides facts and figures stating that Norilsk Nickel (which is the biggest nickel company of Russia), will be extending its stay in Botswana. During the course of the economic recession which hit almost every nation in 2009, there was much speculation whether Norilsk would pull out of its ventures in Botswana. But now that the market is slowly gaining back to normalcy, recent events have shown that Norilsk will continue with its 85% owned Tati Nickel Company till its estimated deadline in 2016. There was a report in May 2010 which announced that Tati was looking to explore newer ground near the area surrounding its two mines. But this would be dependent on the company generating enough revenue from its nickel work, to carry out fresh exploration work. But things do look good for Norilsk because Tati is one of the largest companies in Russia and Europe, producing an annual turnout of 19,600bn of nickel in 2009.
With the beginning of the new session, The BMI has changed the guidelines on which mining data was forecasted. Apart from the usage of local statistics from agencies and associations, the research will also be using the UN’s Industrial Commodity Statistics Database, the US Geological Survey and the World Bureau for Metal Statistics for compiling corresponding historical or future trend data. All of this data is then compiled and used for observing trends and making estimates for a particular period. However, using mechanical data is not a means of being sure whether the estimates would work or not. More often than not, the research uses human intelligence and experience, which is highly essential to notice trends and forecast future results based on past experiences. Most of the country’s resources are precious stones which fetch them good revenue. Most of its revenue comes from the exploitation of diamonds and other precious stones such as copper and nickel. With the help of this, Botswana earns almost more than 3/4th of its total revenue generation.
The country’s government has been doing a good job of tapping the diamond market to cover up for the GDP. Almost 36% of the GDP and 75% of the merchandise exports and 45% of government revenue is due to the export of the diamond industry. But with the output set to decline, the government has come up with measures which will ensure that there is enough revenue to aid diversification. During the economic recession which hit the country in 2009, there was a sharp decline in the diamond mining industry. Though there has been some revival in the third quarter of 2010, there is still a long way to go before the industry reaches pre-crisis standard. This view-point expressed in the research, has also been summarized by the Botswanan Finance Minister.