Botswana hosts one of the best regulated and strongest performing mining sectors in Africa, with diamonds the main commodity. Botswana's mining industry also deals in other metals and minerals including copper, nickel and coal. Additionally, uranium mining is likely to take off over the next decade.

BMI Industry View 7

      Table: Botswana - Major New Mining Projects 7

SWOT 9

Industry Forecast 11

Diamonds: Diamonds Are Forever 11

      Table: Botswana - Main Diamond Projects 13

Power Constraints Should Be Alleviated 13

      Table: Diamond Production (Botswana 2010-2018) 14

Coal: Botswana Begins To Fulfil Colossal Potential 14

Improved Transport Routes To Assist Growth 16

      Table: Botswana - Coal Deposits 16

Coal To Have Huge Impact On Wider Economy 17

      Table: Coal Production Forecast (Botswana 2010-2018) 17

Industry Risk Reward Ratings 18

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

Risk/Reward Ratings 23

Rewards 23

Industry Rewards 23

Country Rewards 23

Risks 24

Industry Risks 24

Country Risks 24

      Table: Botswana - Mining Industry Value & Production Forecasts 25

Regulatory Development 26

Corruption 27

Tax Regime 27

      Table: Botswana - Political Overview 28

      Table: Africa - Mining Regulatory Outlook 29

Commodities Forecast 31

Monthly Metals Update 31

Iron Ore: Chinese Stimulus Not A Game Changer 31

Steel: Gradual Rationalisation Insufficient To Boost Prices 33

Aluminium: Recent Rally Unlikely To Persist Into H214 34

Copper: Bearish Forecast Appears Well Placed 35

Lead: Picking Up Autos Sector Tailwinds 36

Nickel: Recent Rise To Fall Back In H214 37

Zinc: Potential Test Of Resistance In Coming Weeks 39

      Table: Select Commodities - Performance & BMI Forecasts 41

Thermal Coal Outlook 41

      Table: BMI Thermal Coal Forecast 41

      Table: Select Coal Contracts (US$/tonne) 49

      Table: Global - Coal Production Forecasts 49

Competitive Landscape 50

Company Profile 52

Norilsk Nickel 52

Company Overview 53

Company Strategy 54

      Table: Norilsk Nickel - Key Financial Data 55

Anglo American 56

Company Strategy 59

Latest Results 60

      Table: Anglo American - Financial Data 61

Regional Overview 62

Mining - Africa Overview 62

Key Opportunities 62

      1. West Africa To Become Focal Point Of Growth 62

      2. Asian Investment Undeterred By Cooling Boom 64

      3. Coal Exports Set To Surge In The South 65

Key Challenges 66

      1. Sluggish Infrastructure Improvements To Weigh On Growth 66

      2. Gold Price Weakness Portends Pain 67

      3. Divergent Regulatory Trends To Play Out 68

      Table: Africa - Key Mining Regulatory Developments 69

Global Industry Overview 71

Challenges 71

      Table: Mining - Select M&A Deals 75

Cause For Optimism 78

Methodology 85

Industry Forecast Methodology 85

Sources 86

Risk/Reward Rating Methodology 87

      Table: Weighting Of Indicators 89

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