Australian mining companies are increasing their investment in African mines. The Foreign Affairs Minister Kevin Rudd said in a pre-recorded message to more than a thousand delegates at a mining conference in Perth that Australia was committed to sharing its mining experience.
Kevin Rudd said that 230 Australian resource companies now held an interest in 650 projects in 43 African nations. Out of these 20 companies and 100 projects were added in the current year of 2011. About 40% of Australian overseas investment in mining was in Africa. Australian resources companies have well and truly discovered Africa, said Mr Rudd.
Africa was young and was urbanising, technology was changing societies he added. There were about $20 billion worth of investments in mining in Africa already in the pipeline. Mr Rudd said that Africa was changing for the better. Democracy, accountability and governance in many countries across the continent were improving.
Special Minister of State Gary Gray said that many Western Australia based mining companies were investing in Africa as they had the best mining practices, the best practitioners and the best environmental standards to support development. He added that they had the skills, they had the technology and they were sharing those skills and expertise with Africa.