A greater number of state-owned miners will be keen to expand production along with India's growing economy. However, the country's poor operating environment will continue to impede growth in the mining sector. A domestic shortfall in coal production is unlikely to fade away anytime soon, while growth in iron ore production will be restricted by the government's clampdown on illegal mining.

BMI Industry View 7

SWOT 10

Industry Forecast 11

Bauxite: Dragged By Environmental Woes 11

      Table: Bauxite Production Forecast (India 2010-2018) 14

Coal: Imports To Rise With Production Struggles 14

      Table: Coal Production Forecast (India 2009-2018) 20

Iron Ore: Mining Challenges To Continue 20

      Table: India - Select Iron Ore Projects 23

      Table: Iron Ore Production Forecast (India 2010-2018) 23

Zinc: HZL In Driving Seat 23

      Table: India - Largest Zinc Mining Projects 25

      Table: Zinc Production Forecast (India 2010-2018) 25

Industry Risk Reward Ratings 26

Risk/Reward Ratings 26

      Table: Asia - Mining Risk/Reward Index 30

Risk/Reward Ratings 30

Rewards 31

Industry Rewards 31

Country Rewards 31

Risks 32

Industry Risks 32

Country Risks 32

      Table: India - Mining Industry Value & Production Forecasts 33

Regulatory Development 34

      Table: Key Changes In Licence/Lease Granting In 2011 MMDR Bill 36

      Table: Royalty Rates Under Proposed Mining Bill 36

      Table: Asia - Mining Regulatory Scorecard 39

      Table: Political Overview 39

Commodities Forecast 42

Monthly Metals Update 42

Iron Ore: Chinese Stimulus Not A Game Changer 42

Steel: Gradual Rationalisation Insufficient To Boost Prices 44

Aluminium: Recent Rally Unlikely To Persist Into H214 45

Copper: Bearish Forecast Appears Well Placed 46

Lead: Picking Up Autos Sector Tailwinds 47

Nickel: Recent Rise To Fall Back In H214 48

Zinc: Potential Test Of Resistance In Coming Weeks 50

      Table: Select Commodities - Performance & BMI Forecasts 52

Competitive Landscape 53

      Table: India - Select Listed Mining Companies 55

Company Profile 56

Coal India Ltd (CIL) 56

      Table: Coal India Ltd - Key Financial Data 59

Hindustan Copper 60

      Table: Hindustan Copper - Key Financial Data 62

NMDC 63

Vedanta Resources 66

Latest Financial Results 68

      Table: Vedanta Resources - Key Financial Data 70

Regional Overview 71

Asia - Q3 2014 71

Challenges 71

Opportunities 74

Global Industry Overview 79

Challenges 79

      Table: Mining - Select M&A Deals 83

Cause For Optimism 86

Methodology 93

Industry Forecast Methodology 93

Sources 94

Risk/Reward Rating Methodology 95

      Table: Weighting Of Indicators 97

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