{"id":7598,"date":"2012-02-03T01:38:21","date_gmt":"2012-02-02T23:38:21","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/africa-money-frontier-africa-may-choke-on-mine-rush\/"},"modified":"2012-02-03T01:38:21","modified_gmt":"2012-02-02T23:38:21","slug":"africa-money-frontier-africa-may-choke-on-mine-rush","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/africa-money-frontier-africa-may-choke-on-mine-rush\/","title":{"rendered":"AFRICA MONEY-Frontier Africa may choke on mine rush"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>By Ed Stoddard<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Feb 2 (Reuters) &#8211; Fancy a bet on the<br \/>\nbest-performing currency of 2012?<\/p>\n<p><span><\/span><\/p>\n<p>If last year is anything to go by it may lie somewhere in<br \/>\nfrontier Africa, scene of a headlong resource scramble by mining<br \/>\ncompanies that threatens to overwhelm small, undeveloped<br \/>\neconomies with a tsunami of cash.<\/p>\n<p><span><\/span><\/p>\n<p>The Tanzanian shilling could be an outside shot &#8211; the<br \/>\neast African country is an up-and-coming gold producer and<br \/>\npromising source of natural gas.<\/p>\n<p><span><\/span><\/p>\n<p>But a stronger contender could well be the leone of<br \/>\nSierre Leone, home to some of the world&#8217;s richest but<br \/>\nleast-exploited iron ore deposits due to a 1991-2002 civil war<br \/>\nthat claimed 50,000 lives and brought the industry to a<br \/>\nstandstill.<\/p>\n<p><span><\/span><\/p>\n<p>That ended last year with the first ore shipment in more<br \/>\nthan two decades, and now the International Monetary Fund is<br \/>\ntalking about economic growth of 50 percent in 2012.<\/p>\n<p><span><\/span><\/p>\n<p>Such eye-popping statistics are sure to be the talk of Cape<br \/>\nTown next week, when investors and mining officials from across<br \/>\nAfrica rub shoulders at the biggest annual industry jamboree on<br \/>\nthe continent.<\/p>\n<p><span><\/span><\/p>\n<p>But they are also a reminder of the wrenching forces that<br \/>\nbig mining investment can unleash in countries in Africa, where<br \/>\nnearly all governments already have a poor track record of<br \/>\ntranslating resource wealth into broad prosperity.<\/p>\n<p><span><\/span><\/p>\n<p>Take war-scarred Mozambique.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ed Stoddard JOHANNESBURG Feb 2 (Reuters) &#8211; Fancy a bet on the best-performing currency of 2012? If last year is anything to go by it may lie somewhere in frontier Africa, scene of a headlong resource scramble by mining companies that threatens to overwhelm small, undeveloped economies with a tsunami of cash. The Tanzanian [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7598","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7598"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7598\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}