company presentation

Africa is hot at the moment as is Phosphate. This from todays Herald Sun...all good for BON


THE resources boom has pushed Africa into second place as the destination with the second highest growth for Australian trade and investment behind Asia.

Department of Foreign Affairs and Trade high commissioner to South Africa Philip Green said actual and prospective investment by Australian mining companies in Africa's sub-Saharan resources sector had climbed to $US20 billion ($A23.9 billion) from almost nothing nearly 10 years ago.

This was up from "very little at the turn of the decade", he said, citing research by foreign policy think-tank The Lowy Institute.

"That investment flow (now) is massive," Mr Green said at the Paydirt Africa Down Under Conference in Perth yesterday.

"Australia's trade and investment relationship with Africa is growing fast . . . and has outpaced its growth with just about every other region in the world," he said.

"Since 2003, our trade with Africa has grown by an average of more than 10 per cent each year.

"Only with Asia has our trade grown faster -- that has grown by nearly 12 per cent (each year)."

Australian and Canadian mining companies had increased their footprint in Africa in recent years. They had been drawn by its rich resources such as uranium in Namibia and copper in the Democratic Republic of Congo.

"Mining investment is bringing new vigour to the commercial relationship between the two continents, opening up new strands in bilateral relationships and delivering benefits to the Australian economy," Mr Green said.

He said Australia's exports to Africa had grown by 53 per cent since 2003.

"It's hard to track how much of that is attributable to mining, but I am confident that a substantial share of that 50 plus per cent increase in exports is a result of the increasing investment by Australians in the African mining sector.

"Trade typically follows investment," he said.

"Australian investors tend to contract the services of Australian providers, purchase Australian-made or sourced equipment and hire Australian labour.

"That's clearly happening in the resource sector in Africa."

Mr Green said Australia had a deservedly high reputation in African mining circles and consistently scored well in international surveys of business integrity.

"The respected NGO Transparency International rates Australia the 11th least corrupt - out of some 180 nations - in its corruption perception index.

"But we are not complacent . . . and are keen to maintain and enhance our reputation.

"We are also committed to promoting better governance and transparency in resource-rich developing countries.