South Africa is looking to ease legislation to further encourage Australian mining companies to invest in the continent, South Africa Director General for Minerals and energy Sandile Nogxina told delegates at an Australian conference today.
During the Australian Down Under Conference at the Sheraton in Perth, WA, Australian Ambassador to South Africa Philip Green said that Australia is keen to grasp any opportunity the government can offer.
"Mining is transforming Australia/Africa relations," Green said, according to a recent report.
Africa has operations from 130 Australian mining firms already on its shores and, according to Green, many more are eager to join.
The Ambassador said a dozen new mines were currently being built by Australian mining companies and more are in the pipeline.
Nogxina says Africa is preparing for a new ''upsurge'' in mining and exploration – buoyed by the quality of minerals available and the current mining boom.
He says a 5.6% increase in investment from 2005 can already be seen.
A recent announcement by African Energy Resources (Australia) confirms the enthusiasm for African mining opportunities.
The company announced it has approved $1.24m for a pre-feasibility study looking into the commercial development of uranium mining in Zambia.
The Njame and Gwabe deposits are believed to contain 1.4 million pounds of uranium oxide concentrate per year.
Reported by staff writer
