Coal is the mainstay of the Czech Republic's mining industry and we expect this to remain the case over our forecast period to 2018. The country also hosts a uranium mine and there is long-term potential for gold mining. We expect stagnation in the Czech Republic's coal production over coming years, ending the declines seen over the past decades.

BMI Industry View 7

SWOT 9

Industry Forecast 10

Coal: Limited Upside For Production 10

Challenging Economics 10

      Table: Czech Republic- Coal Production Forecast 12

Industry Risk Reward Ratings 13

Russia On Top; Kazakhstan Not Far Behind 13

      Table: Mining Risk/Reward Ratings 13

Nordics Lagging 14

Reward Paucity In Germany 14

Corruption & Infrastructure To Remain Key Risks In Russia & Ukraine 15

Weak Commodity Prices Weigh On Rewards 16

Market Overview 17

Coal Mining To Be Main Growth Driver 18

      Table: Czech Republic - Key Mines 19

Declining Uranium Output Weighs On Growth 19

      Table: Czech Republic - Mining Industry Forecasts 20

Regulatory Development 21

Overview 21

Pressing Environmental Issues 22

Tax Regime 22

Elevated Corruption 22

      Table: Europe - Mining Regulatory Outlook 23

Commodities Forecast 24

Commodity Strategy 24

Steel: Subdued Medium Term Outlook 26

Aluminium: Despite Recent Upswing, Underperformance To Persist 27

Copper: No Time To Celebrate Yet 28

Lead: Outperformance On The Cards 29

Nickel: Sideways Movement In Weeks Ahead 30

Zinc: Positive Momentum To Continue 32

      Table: Select Commodities - Performance & BMI Forecasts 33

      Table: BMI Commodities Strategy 34

Competitive Landscape 35

Company Profile 36

Ostravsko-Karvinské doly 36

Regional Overview 38

Europe Overview 38

      1. Coal Production Growth Mainly In The East 38

      2. Iron Ore Mining To Come Under Threat 40

      3. Greater Regulation On The Horizon 42

      Table: Europe: Mining Regulatory Outlook 42

      4. Long-Term Promise For Rare Earths 43

      5. Public Opposition To Present Major Downside Risk 44

Global Industry Overview 45

Methodology 57

Industry Forecast Methodology 57

Sources 58

Risk/Reward Rating Methodology 59

      Table: Mining Risk/Reward Ratings Indicators 61

      Table: Weighting Of Indicators 62

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