Committed and planned investment by Australian companies in African resources projects is over $50 billion, according to the Department of Foreign Affairs and Trade. Australian companies now have more projects in the country than in any other region.
“There are now at least 230 Australian companies with approximately 650 projects in mining exploration, extraction and processing, spread across 42 countries in Africa,” said Australian High Commissioner, Ann Harrap, at the Mining Indaba Conference in Cape Town in February. “And the total current and projected investment is estimated to be well over US$50 billion.”
Come this August 29-31st, Australia's Paydirt will host the Africa Down Under Conference to bring together African Mines Ministers, business leaders and executives from the mining services industries to encourage and discuss the surge of business conducted between the two continents. As a world leader in the mining, Australia is making strategic moves to share its expertise to help resource-rich countries in Africa overcome challenges the mining sector presents.
SEE OTHER TOP STORIES IN THE ENERGY DIGITAL CONTENT NETWORK
Countries previously considered no-go areas, such as Angola, the Democratic Republic of Congo and Mozambique, will start to see a new wave of international investors, explorers and miners. The use of new technologies and modern techniques, coupled with a strong demand for commodities from China, has created much of the surge nearly all African countries are seeing today.
For the last nine years, the Africa Down Under Conference has sought to drive communication between Australia's involvement in tapping one of the world's greatest treasure troves that has yet to be comprehensively explored. Leaders of the event are confident that the changing face of Africa will bring about positive, sustainable change to surrounding communities and economies involved in new resource exploration.
Last year, the conference attracted over 2,000 delegates, 166 exhibitors and three days worth of top-notch speakers. As interest continues to spread, this year's attendance list is expected to be much bigger.
Over the next month, Energy Digital will continue to cover the event as more information is released.