Tapping into the African mining boom

Australia's role in Africa's mining sector will be showcased at Mining Indaba 2008, one of the world's largest mining conferences, held in Cape Town this week

The Australian government is promoting the nation's mining capabilities at the Australian Lounge — a joint initiative of Austrade and the Department of Foreign Affairs and Trade.

The lounge and associated networking events are also backed by major mining icons, including the world's largest diversified resources company, BHP Billiton.

"Australian mining expertise is making a substantial contribution to the development of Africa's resource sector, a sector vital for Africa's future," said Australian senior trade commissioner to South Africa, Greg Hull.

Australian high commissioner to South Africa, Philip Green said: "Trade with Africa has grown by more than 10% 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 including Burkina Faso, Senegal, Mozambique and Tanzania. Gold, copper, nickel, coal, mineral sands and uranium are among the resources being mined.

According to Austrade's chief economist, Tim Harcourt, the resources boom in Africa represents significant potential for Australian exporters.

"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," he said.

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