The Foreign Minister Bob Carr says Australia remains committed to supporting the rapid growth of Africa's burgeoning resources sector.
He has told hundreds of mining executives and government officials gathered in Perth there are more than 200 Australian companies undertaking more than 650 projects in 37 countries.
Senator Carr says Africa now hosts 40 per cent of overseas Australian resource projects.
"In the spirit of co-operation and in our own national economic interest, Australia is committed to developing a long term partnership with Africa," he said.
He says there has been an almost tenfold increase in the level of foreign investment in African resource projects.
The Minister told delegates the coming decades will show whether Africa can deliver on its potential to match the economic transformation of Asia.
"What we've seen since 2000, it could well be the African century," he said.
"It isn't a question that can be answered by looking one year ahead or five years ahead but by daring to look decades into the future." With Australian companies engaged in billions of dollars worth of projects across Africa, Senator Carr says the pessimism about instability and risk has been progressively displaced by optimism.
He says with improved security and more stable government, along with a growing skilled middle class, Africa has the potential to match the economic transformation of Asia.
Senator Carr says companies such as Rio, BHP, Paladin and others are also combining business investment with community aid projects, funding basic services such as schools and water supplies.
The Minister says the government will provide $5 million to fund the establishment of the African Minerals Development Centre, to help guide the sustainable development of Africa's mineral reserves.
The Africa Downunder conference was attended by senior Australian government figures and mining executives, as well as more than 27 African government delegations.
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