Brazil's mining industry value will see slower average growth to 2018 compared with previous years on account of subdued mineral prices. Nevertheless, mine production will still see growth as both domestic and foreign miners continue to exploit the country's significant reserves of both industrial and precious metals.

BMI Industry View 7

SWOT 10

Industry Forecast 11

Bauxite: Growth Despite Market Weakness 11

Foreign Firms To Dominate Industry 11

Risks To Outlook 12

      Table: Bauxite Production Forecast (Brazil 2010-2018) 13

Gold: Brazil To See Small Gains 13

      Table: Select Greenfield Gold Projects 13

      Table: Gold Production Forecast (Brazil 2010-2018) 14

Iron Ore: Growth To Continue Despite Weakening Chinese Demand 15

Vale To Maintain Top Place 15

Risks To Outlook 18

      Table: Iron Ore Production Forecast (Brazil 2010-2018) 19

Nickel: Growth To Continue 19

      Table: Brazil - Key Nickel Projects 20

Indonesian Restrictions To Encourage Production 20

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

Tin: Brazil To Capture Larger Share Of Market 21

Risks To Outlook 22

      Table: Tin Production Forecast (Brazil 2010-2018) 22

Industry Risk Reward Ratings 23

Brazil Risk/Reward Ratings 23

Rewards 23

Industry Rewards 23

Country Rewards 23

Risks 24

Industry Risks 24

Country Risks 25

      Table: Brazil - Mining Production & Growth 25

Americas Risk/Reward Ratings 25

Significant Rewards For Some, But Risks Abound 25

Weaker Prices To Remain Headwinds 26

Modest Shift In Rankings 27

      Table: Americas - Mining Risk/Reward Ratings 28

Regulatory Development 29

Recent Developments 29

Regulatory Uncertainty Ahead 29

Higher Royalties Would Present Challenges, Though Not Game Changer 30

Licensing & Permitting Challenges Pose Ongoing Concern 30

Tax Regime 31

Corruption To Persist 31

      Table: Brazil - Political Overview 31

      Table: Regional Regulatory Ratings 32

Commodities Forecast 34

Commodity Strategy 34

Ferrous Metals: 34

Steel: Prices To Remain Subdued 36

Non-Ferrous Metals: 37

Aluminium: Price Strength To Continue In Q314 37

Copper: Further Decline By Year's End 38

Lead: Constructive Price Outlook 39

Nickel: Moderation To Continue 40

Tin: Upside Ahead 41

Zinc: Consolidation Before Multi-Year Gains 43

      Table: Select Commodities - Performance & BMI Forecasts 45

Competitive Landscape 46

      Table: Financial Data For Key Firms Listed In Brazil 46

Foreign Firms Stay Away From Iron Ore 47

Golden Opportunities Hit By Lower Prices 47

Company Profile 48

Alcoa 48

Company Strategy 50

Latest Results 51

      Table: Alcoa - Supply Chain Analysis 52

Company Details 53

Anglo American 53

Company Strategy 56

Latest Results 57

      Table: Anglo American - Financial Data 58

Vale 59

Company Overview 61

Company Strategy 62

Latest Results 63

      Table: Vale - Supply Chain Analysis 64

      Table: Vale - Key Financial Data 64

Company Details 65

Regional Overview 66

Mexico & Peru To Remain Top Destinations 66

Canada To Lead North American Mining 68

Frontier Markets To See Little Development 70

. . .But Green Shoots In Argentina? 71

      Table: Estimated 2014 Production For Top Argentine Mines 72

Chinese Investment To Continue 72

Global Industry Overview 74

Capex Cutbacks To Yield Rewards 74

M&A Activity To Pick Up 76

High Grade Opportunities In Iron Ore 76

Shifting Centre Of Growth For Platinum 77

Chinese & Indian Outbound Mineral Investment To Gather Pace 78

Shake-Up For Global Rare Earths Industry 79

Methodology 81

Industry Forecast Methodology 81

Sources 82

Risk/Reward Rating Methodology 83

      Table: Weighting Of Indicators 84

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