Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.
Ivanhoe Mines (TSE:IVN) received a bit of unwanted publicity on Sunday when it was revealed that the wife of CEO Lars-Eric Johansson is facing criminal charges for throwing a water bottle at a flight attendant on an Air Canada flight.
Dozens of mines closed last year but another 175 million tonnes will have to drop out to neutralize 2015 output growth, which unlike copper is de-risked.
The report, based on responses from 108 buyers and decision-makers across 100 mines in 16 African countries, shows most plan to acquire equipment and maintenance services.