The export ban on raw minerals will have a decisive impact on the fortunes of Indonesia's mining industry. While no official announcement has been made, our core view remains that the export ban will eventually be rolled back due to mounting economic headwinds and practical consideration.

BMI Industry View 7

SWOT 9

Industry Forecast 11

Bauxite: Output To Recover As Export Ban Eases 11

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

Coal: Expanding, But Risks Lurk 15

      Table: Indonesia - Select Coal Projects 18

      Infrastructure Development A Boon 20

      Table: Coal Production Forecast (Indonesia 2010-2018) 21

Copper: Growth To Cool 22

      Table: Indonesia - Largest Copper Projects 26

Nickel: Temporary Collapse 27

      Table: Indonesia - Largest Nickel Projects 29

      Table: Nickel Production Forecast (Indonesia 2010-2018) 31

Tin: Rising Prices To Support Production 32

      Table: Tin Production Forecast (Indonesia 2010-2018) 36

Industry Risk Reward Ratings 37

Asia - Risk/Reward Ratings 37

      Australia Leads, Frontier Markets To Remain Laggards 37

      An Improving Regulatory Landscape 38

      Largest Quarterly Change In Laos 39

      Table: Asia - Mining Risk/Reward Index 40

Indonesia - Risk/Reward Ratings 41

      Rewards 41

      Industry Rewards 41

      Country Rewards 41

      Risks 42

      Industry Risks 42

      Country Risks 42

      Table: Indonesia - Mining Industry Value & Mineral Production Forecasts 43

Regulatory Development 44

Key Developments 44

Policy Moderation On The Cards 44

      Table: Indonesia - Export Restrictions On Select Commodities 44

New Mining Law of 2009 46

Tax Regime 47

Corruption To Remain Key Concern 47

      Table: Asia - Regulatory Outlook 48

      Table: Political Overview 48

Commodities Forecast 50

Commodity Strategy 50

      Ferrous Metals: 51

      Non-Ferrous Metals: 54

      Aluminium: Prices To Remain Elevated Following Recent Dip 54

      Copper: Chinese Weakness To Create Further Headwinds 55

      Nickel: No Sustained Rally Ahead 57

      Zinc: Subdued Short-Term Outlook Before Multi-Year Gains 60

      Table: Select Commodities - Performance And BMI Forecasts 61

Competitive Landscape 63

Key Players 63

      Table: Financial Data For Key Mining Firms Listed In Indonesia 64

Company Profile 65

PT Antam 65

      Table: PT Antam - Key Financial Data 68

PT Bumi Resources 69

      Table: Bumi Resources - Key Financial Data 72

PT Indo Tambangraya Megah Tbk (ITMG) 73

      Table: ITMG - Key Financial Data 77

PT Timah 78

      Table: PT Timah - Key Financial Data 81

Regional Overview 82

Asia Overview 82

Global Industry Overview 88

Capex Cutbacks To Yield Rewards 88

M&A Activity To Pick Up 90

High Grade Opportunities In Iron Ore 90

Shifting Centre Of Growth For Platinum 91

Chinese & Indian Outbound Mineral Investment To Gather Pace 92

Shake-Up For Global Rare Earths Industry 93

Methodology 95

Industry Forecast Methodology 95

Sources 96

Risk/Reward Rating Methodology 97

      Table: Weighting Of Indicators 99

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