Although mine production will generally rise in the coming years, the outlook in terms of growth is dismal compared with the previous decade. We expect declining ore grades and rising environmental standards to increase costs for mining operations. This will encourage significant investment in overseas mines, particularly for iron ore, copper and gold. Increased thermal coal production will not provide strong upside for mining industry value as prices fall.

Key View 5

SWOT 8

Mining SWOT 8

Industry Forecast 9

Coal Mining Forecast 9

Bauxite Mining Forecast 17

Copper Mining Forecast 21

Gold Mining Forecast 27

Iron Ore Mining Forecast 32

Nickel Mining Forecast 36

Tin Mining Forecast 39

Lead Mining Forecast 42

Zinc Mining Forecast 45

Lithium Mining Forecast 48

Industry Risk/Reward Index 52

Mainland China Mining Risk/Reward Index 52

Asia Mining Risk/Reward Index: Still High Rewards 54

Regulatory Development 63

Market Strategy 65

Monthly Commodities Strategy: Key Themes For 2023 65

Competitive Landscape 78

Company Profile 81

Shandong Gold 81

China Shenhua Energy 84

Global Company Strategy 87

Aluminum Corporation Of China (Chalco) 87

Regional Overview 92

Asia Mining Key Themes 92

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