Angola's mining industry is set to reach US$3.0bn in 2018, growing at an average rate of 5.3% a year. The rate of growth will remain stable thereafter, with diamonds providing the main thrust for production growth over the medium term. New areas of mining, including iron ore, copper and phosphates, are also receiving increasing international interest from investors and are expected to provide further momentum for Angola's mining sector over the long term.

BMI Industry View 7

SWOT 9

Industry Forecast 10

Diamonds: Growing Investment To Drive Output Growth 10

Further Upside To Production Forecasts 11

      Table: Angola - Diamond Production (mn carats, unless stated otherwise) 11

Industry Risk Reward Ratings 12

Risk/Reward Ratings 12

Lower Gold Prices Reduce Rewards 12

      Table: Africa - Mining Risk/Reward Ratings 13

Reduced Rewards For Copper Mining 13

Mixed Rankings For West Africa 14

Substantial Rewards In Southern Africa 14

Lack Of Uniformity In Regulatory Development 15

Political & Infrastructure Risks Lurk 16

Country Highlights 17

South Africa: Deteriorating Environment For Mining Companies 17

Mozambique: Mining Sector Set To Boom 18

Botswana: All Round Outperformer 18

Market Overview 19

      Table: Angola - Mining Industry Value & Diamond Production 22

Regulatory Development 23

      Table: Angola Political Overview 25

Commodities Forecast 26

Commodity Strategy 26

Steel: Locked In Secular Downtrend 28

Aluminium: US$1,800/tonne To Provide Strong Support 28

Copper: Bearish View In Place Despite Some Recovery 29

Nickel: Despite Recent Gains, Downside Risks Dominate 31

Zinc: Channelling Support 33

      Table: Select Commodities - Performance & BMI forecasts 34

      Table: BMI Commodities Strategy 35

Competitive Landscape 36

Company Profile 38

Endiama 38

Regional Overview 40

Africa Overview 40

Key Opportunities 40

      1. Asian Investment Inflows To Continue 40

      2. Iron Ore Production In West Africa To Boom 41

      3. Southern Africa To Become A Key Coal Exporter 42

Key Challenges 43

      1. Gold Crunch To Gain Traction 43

      2. Lack Of Infrastructure A Major Hurdle 44

      3. Regulatory Environment In Flux 45

      Table: Africa - Key Mining Regulatory Developments 46

Global Industry Overview 47

Methodology 59

Industry Forecast Methodology 59

Sources 60

Risk/Reward Rating Methodology 61

      Table: Mining Risk/Reward Ratings Indicators 62

      Table: Weighting Of Indicators 63

冶金工业信息标准研究院