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 10

Industry Forecast 12

Diamonds: Diamonds Are Forever 12

      Table: Botswana - Main Diamond Projects 14

Power Constraints Should Be Alleviated 14

      Table: Diamond Production (Botswana 2010-2018) 15

Coal: Botswana Begins To Fulfil Colossal Potential 16

Improved Transport Routes To Assist Growth 17

      Table: Botswana - Coal Deposits 18

Coal To Have Major Impact On Wider Economy 19

      Table: Coal Production Forecast (Botswana 2010-2018) 19

Industry Risk Reward Ratings 20

Botswana Risk/Reward Ratings 20

Rewards 20

Industry Rewards 20

Country Rewards 20

Risks 21

Industry Risks 21

Country Risks 21

      Table: Botswana - Mining Industry Forecasts 22

Africa Risk/Reward Ratings 22

Large Rewards On Offer - With Varying Degrees Of Risk 22

Gold Producers Lag The Pack 23

Largest Quarterly Change In South Africa 24

      Table: Africa - Mining Risk/Reward Ratings 25

Regulatory Development 26

Corruption 27

Tax Regime 27

      Table: Botswana - Political Overview 28

      Table: Africa - Mining Regulatory Outlook 29

Commodities Forecast 31

Commodity Strategy 31

Ferrous Metals: 32

Iron Ore: Bounce Won't Last, Weakness In 2015 32

Steel: Long Road To Price Recovery 33

Non-Ferrous Metals: 34

Aluminium: Elevated Prices In Coming Weeks 34

Copper: Strength To Turn To Weakness By Q414 35

Lead: Price Bounce Underway 36

Nickel: Prices To Cool In Coming Months 37

Tin: Market Tightness To Drive Prices Higher 38

Zinc: Prices To Moderate By Q414 39

      Table: Select Commodities - Performance & BMI Forecasts 41

Competitive Landscape 42

Company Profile 44

Norilsk Nickel 44

Company Overview 45

Company Strategy 46

      Table: Norilsk Nickel - Key Financial Data 48

Anglo American 49

Company Strategy 52

Latest Results 53

      Table: Anglo American - Financial Data 54

Regional Overview 55

Chinese Quest For Minerals Undeterred 55

      Table: Select Projects - Chinese Mining Investment In Africa 55

Look To West Africa For Rapid Growth 56

Tin Mining To Make A Comeback 57

Flurry Of Investment Into Southern African Coal 58

Changing Landscape For Precious Metals 59

Risks & Opportunities In Infrastructure 61

Global Industry Overview 63

Capex Cutbacks To Yield Rewards 63

M&A Activity To Pick Up 64

High Grade Opportunities In Iron Ore 65

Shifting Centre Of Growth For Platinum 66

Chinese & Indian Outbound Mineral Investment To Gather Pace 67

Shake-Up For Global Rare Earths Industry 68

Methodology 70

Industry Forecast Methodology 70

Sources 71

Risk/Reward Rating Methodology 72

      Table: Weighting Of Indicators 74

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