The Tanzanian mining industry will experience stagnation over the forecast period to 2017. This will largely be a result of minimal gold production growth. Although gold is the current mainstay of the sector, there are plans to diversify into nickel and uranium production in the long term.

BMI Industry View 7

SWOT 9

Industry Forecast 10

Gold: Stagnation To Take Hold 10

      Table: Tanzania - Gold Production 12

Industry Risk Reward Ratings 13

Risk/Reward Ratings 13

      Lower Gold Prices Reduce Rewards 13

      Table: Africa - Mining Risk/Rewards Ratings 14

      Reduced Rewards For Copper Mining 14

      Mixed Rankings For West Africa 14

      Substantial Rewards In Southern Africa 15

      Lack Of Uniformity In Regulatory Development 16

      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: Tanzania - Main Mining Projects 20

Government Intervention To Weigh On Sector 20

      Table: Tanzania - Mining Industry Value & Production 21

Regulatory Development 22

Tax Regime 23

Corruption Concerns To Continue 24

      Table: Political Overview 25

      Table: Africa - Regulatory Outlook 25

Commodities Forecast 27

Commodity Strategy 27

      Iron Ore: Prices To Head Lower In 2014 28

      Steel: Reprieve Unlikely To Last 29

      Aluminium: Weakness Resuming 29

      Copper: Continued Weakening 31

      Lead: Modest Secular Uptrend To Remain Intact 31

      Nickel: Can't Catch A Break 32

      Tin: Outperformance To Continue 33

      Zinc: Likely To Hold Up 34

      Table: Select Commodities - Performance & BMI Forecasts 35

      Table: BMI Commodities Strategy 36

Competitive Landscape 37

      Table: Tanzania - Main Mining Companies' Performance 38

Company Profile 39

Barrick Gold - Q1 2014 39

      Company Strategy 41

      Latest Financial Results 42

      Financial Data 42

      Table: Barrick - Key Financial Data 42

      Address Details 43

Regional Overview 44

Africa Overview 44

      1. Chinese Investment Inflows To Continue 44

      2. Lack Of Infrastructure A Major Hurdle 45

      3. Regulatory Environment In Flux 46

      Table: Key Regulatory Developments 47

      4. Gold Crunch To Gain Traction 47

      5. Iron Ore Production In West Africa To Boom 49

      6. Southern Africa To Become A Key Coal Exporter 50

Global Industry Overview 51

Global Overview 51

      Downturn To Continue Into 2014 51

      1. China Slowdown To Drive Mining Moderation 51

      2. Frontier Mining Increasingly Challenging 52

      3. Mining Services Firms Facing Tough Outlook 54

      But Opportunities Still Exist 56

      1. Asian Outward Investment Continues 56

      2. Private Equity Entering The Mix 58

      3. Global Thermal Coal Demand Still Growing 59

Methodology 62

Industry Forecast Methodology 62

Sources 63

Risk/Reward Rating Methodology 64

      Table: Mining Risk/Reward Ratings Indicators 65

      Table: Weighting Of Indicators 66

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