Australian Resources Expertise Helping Drive Africa’s Mining Boom At Indaba 2008

Australia’s role in Africa’s mining sector will be showcased at Mining Indaba 2008, one of the world’s largest mining conferences, to be held in Cape Town next week (4-7 February).

The Australian Government will once again promote a major Australian presence at the Australian Lounge to showcase Australian mining capability. A joint initiative of Austrade and the Department of Foreign Affairs and Trade, the Australian Lounge and associated networking events will also be backed by major mining icons, including the world’s largest diversified resources company, BHP Billiton.

Australian Senior Trade Commissioner to South Africa, Johannesburg-based Greg Hull said: “Australian mining expertise is making a substantial contribution to the development of Africa’s resource sector, a sector vital for Africa’s future”.

Australian High Commissioner to South Africa, Philip Green said: “Trade with Africa has grown by more than 10 per cent per year over the last five years, which is faster than Australia’s trade with any other continent.”

“Australian mining and resources investment in Africa is estimated at around $US15 billion, with a large proportion of new ventures on the continent featuring Australian involvement,” he said.

Major Australian mining projects are underway in countries as diverse as Burkina Faso, Senegal, Mozambique and Tanzania. Gold, copper, nickel, coal, mineral sands and uranium are among the resources being mined.

According to the Austrade’s Chief Economist, Tim Harcourt, the resources boom in Africa represents significant potential for Australian exporters in mining, mining-related technology, infrastructure development and skills formation.

“The resource industry is pivotal for Africa’s future - how well it is managed will largely determine whether the prosperity sought in Africa, over coming decades, can be achieved. The Australian mining industry is bringing to Africa not only high standards in mining itself and in advanced mining technologies, but also in the delivery of environmental protection, corporate social responsibility and community development,” Mr Harcourt said.

“Australia’s trade with South Africa leads the way with two-way trade worth over $3.7 billion and Australian exports growing at over 17 per cent per year on average since the end of apartheid,” Mr Harcourt said.

“South Africa’s pre-eminence in terms of Australian trade is borne out by Austrade research, showing there were 2226 Australian companies exporting to South Africa in 2006-07, well ahead of other African countries”.

Mining Indaba 2008 presents the Australian mining sector with a unique opportunity to access influential African government and business representatives, including an anticipated 20 African government delegations and over 3000 industry participants.

“Mining Indaba 2008 is specifically focused on investment in the African mining sector. Over 400 Australian delegates will attend the conference this year, representing mining companies, as well as mining services and supply companies,” Mr Hull said.

A total of 34 Australian entities, including BHP Billiton, the Export Finance and Insurance Corporation (EFIC), the Queensland Government, and the Australia-Africa Business Council, will sponsor the initiative.

Source: Austrade

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