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African Mining and Metals Growth in 2009 Will Wait on Global Upturn

JOHANNESBURG--November 6, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Funding for project development has become a rare resource in the aftermath of the credit crunch. Combined with a dramatic fall in prices for base metals and mineral commodities, this makes the outlook for Africa in 2009 just as problematical as it is for miners in Latin America or Australia. One marginal advantage that many countries on the continent have had in the current turmoil is that their banks were not directly exposed to the subprime market and other risky financial products. Some larger companies are able to finance new projects from internally sourced funds.

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Industry Segment: Metals & Minerals
Word Count: 916 Words

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