The Democratic Republic of the Congo's vast mineral resources will continue to attract international interest, given the country's untapped and high-grade reserves. Growth over the next five years will be driven largely by expansions in the copper sector and the Kibali gold mine ramping up to full production.

BMI Industry View 7

Plenty To Play For, But Downside Risks Lurk 7

SWOT 9

Industry Forecast 11

Copper: Strong Growth But Substantial Risks Ahead 11

Higher Grade Deposits Incentivise Investors 12

      Table: DRC - Copper Projects 12

Plethora Of Risks Await Investors 12

      Table: Copper Production Forecast (Congo (DRC) 2010-2018) 13

Gold: Kibali To Drive Growth 13

      Table: Gold Production Forecast (Congo (DRC) 2010-2018) 15

Industry Risk Reward Ratings 16

Risk/Reward Ratings 16

Rewards 16

Industry Rewards 16

Country Rewards 16

Risks 17

Industry Risks 17

Country Risks 17

Risk/Reward Ratings 18

Botswana On Top 19

      Table: Africa - Mining Risk/Reward Ratings 20

South Africa: Still Ranking Highly 20

Lower Gold Prices Reduce Rewards 21

Regulatory Development 23

Mineral Regulation Structure 23

Unrefined Copper Taxes 24

Licence Cancellations 24

Little Central Control 24

      Table: Democratic Republic of the Congo - Political Overview 25

      Table: Africa - Mining Regulatory Outlook 25

Commodities Forecast 27

Monthly Metals Update 27

Iron Ore: Chinese Stimulus Not A Game Changer 27

Steel: Gradual Rationalisation Insufficient To Boost Prices 29

Aluminium: Recent Rally Unlikely To Persist Into H214 30

Copper: Bearish Forecast Appears Well Placed 31

Lead: Picking Up Autos Sector Tailwinds 32

Nickel: Recent Rise To Fall Back In H214 33

Zinc: Potential Test Of Resistance In Coming Weeks 35

      Table: Select Commodities - Performance & BMI Forecasts 37

Competitive Landscape 38

Company Profile 39

Tiger Resources 39

      Table: Tiger Resources - Financial Data 41

Randgold Resources 42

      Table: Randgold Resources - Key Financial Data 45

Freeport-McMoRan 46

Company Strategy 48

Latest Financial Results 49

Financial Data 50

      Table: Freeport-McMoRan - Key Financial Data 50

Address Details 50

Regional Overview 51

Mining - Africa Overview 51

Key Opportunities 51

      1. West Africa To Become Focal Point Of Growth 51

      2. Asian Investment Undeterred By Cooling Boom 53

      3. Coal Exports Set To Surge In The South 54

Key Challenges 55

      1. Sluggish Infrastructure Improvements To Weigh On Growth 55

      2. Gold Price Weakness Portends Pain 56

      3. Divergent Regulatory Trends To Play Out 57

      Table: Africa - Key Mining Regulatory Developments 58

Global Industry Overview 60

Challenges 60

      Table: Mining - Select M&A Deals 64

Cause For Optimism 67

Methodology 74

Industry Forecast Methodology 74

Sources 75

Risk/Reward Rating Methodology 76

      Table: Weighting Of Indicators 78

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