M a r k e t N e w s

Africa gaining ground on Australia as an attractive mining destination

Posted on : Tuesday, 13th September 2016

 Australia risks losing its investment edge over Africa for mining projects in coming years if it does not stay “match fit”, one of Australia’s leading resources and energy lawyers warned today. 

Addressing the second day of the three day Paydirt 2016 Africa Down Under mining conference in Perth today, Gilbert + Tobin Partner, Mr Phil Edmands, said today the “playing field” between Australia and Africa was becoming much more level – and will continue to lean to towards Africa if changes are not made. 
“Compared with Africa, Australia attracted a disproportionate share of international resources investment relative to its resources endowment during the last boom, partly as a result of its greater stability and development,” Mr Edmands said. 
“But the playing field will be much more level going forward,” he said. 
“Australian and Western Australian Government initiatives to improve competitiveness, administration and governance of mining in Africa is not only laudable, but economically rationale – both for Africa and Australia. 
The pie will grow for both of them – but there is a catch. “As Africa develops, so its sovereign and operating risk will diminish, and its infrastructure will improve. Australia’s luck will ultimately run out unless it can stay match fit.”

Source : www.mineweb.com
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