Canada's diversified mineral base and its status as a top destination for mining firms seeking to raise funds on capital markets will enable it to remain a major player in the global mining industry. Indeed,the country will remain a top-ten global producer of zinc, lead, iron ore, nickel, copper, gold, silver,uranium and potash throughout our forecast period.

BMI Industry View 7

SWOT 9

Industry Forecast 11

Gold: Exploration & Output To Moderate Due To Lower Prices 11

      Table: Major Gold Projects 12

Financing Difficulties Alleviating, But No Return To Peak 13

      Table: Gold Production Forecast (Canada 2010-2018).14

Iron Ore: Decline In 2014 To Give Way to Tepid Growth 15

Few New Entrants 15

      Table: Current Iron Ore Projects.17

Weak Prices & Continued Glut Pose Challenges 17

      Table: Iron Ore Production Forecast (Canada 2010-2018) . 17

Nickel: Modest Growth Outlook 18

      Table: Select Planned Nickel Projects 20

Risks Weighted To Upside 20

      Table: Nickel Production Forecast (Canada 2010-2018) 20

Zinc: Production Declines In Coming Quarters 20

Minimal Growth Ahead 21

North Presents Opportunities, But Challenges Abound 22

      Table: Canada - Zinc Projects23

      Table: Zinc Production Forecast (Canada 2010-2018) 23

Industry Risk Reward Ratings 24

Risk/Reward Ratings 24

Rewards 24

Industry Rewards 24

Country Rewards 24

Risks 25

Industry Risks 25

Country Risks 26

      Table: Mining Industry Forecasts (Canada 2010-2018).26

Industry Risk Reward Ratings 27

Significant Rewards For Some, But Risks Abound 27

Weaker Prices To Remain Headwinds 28

Modest Shift In Rankings 29

      Table: Americas - Mining Risk/Reward Ratings30

Regulatory Development 31

Latest Updates 32

Local Consultation & Environmental Stewardship Remain Top Priorities 32

      Table: Canada - Political Overview33

      Table: Regional Regulatory Index 34

Commodities Forecast 35

Commodity Strategy 35

Ferrous Metals: 35

Iron Ore: Price Slump Overdone, Stabilisation In Sight 35

Steel: Price Forecast Revised Up 36

Non-Ferrous Metals: 38

Aluminium: Recent Break Signals Multi-Month Strength 38

Copper: Subdued Prices Into Q314 39

Lead: Prices To Strengthen As Deficit Deepens 40

Nickel: H214 Rally Unlikely 41

Tin: More Resilient Than Other Metals 42

Zinc: Sustained Break Unlikely 44

      Table: Select Commodities - Performance & BMI Forecasts 46

Competitive Landscape 47

Improving Financing Conditions, But Challenges To Remain 48

      Table: Canada - Largest Listed Mining Firms. 49

Company Profile 50

Goldcorp 50

Latest Results 52

      Table: Goldcorp - Key Financial Data 53

Teck Resources - Q4 2014 54

Latest Results 56

      Table: Teck - Key Financial Data 56

Barrick Gold 57

Company Strategy 58

Latest Results 60

Financial Data 60

      Table: Barrick - Key Financial Data . 60

Address Details 61

Regional Overview 62

Mexico & Peru To Remain Top Destinations 62

Canada To Lead North American Mining 64

Frontier Markets To See Little Development . 66

. . .But Green Shoots In Argentina? 67

      Table: Estimated 2014 Production For Top Argentine Mines 68

Chinese Investment To Continue 68

Global Industry Overview 70

Capex Cutbacks To Yield Rewards 70

M&A Activity To Pick Up 71

High Grade Opportunities In Iron Ore 72

Shifting Centre Of Growth For Platinum 73

Chinese & Indian Outbound Mineral Investment To Gather Pace 74

Shake-Up For Global Rare Earths Industry 75

Methodology 77

Industry Forecast Methodology 77

Sources 78

Risk/Reward Rating Methodology 79

      Table: Weighting Of Indicators 81

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