A new report has argued Australian companies are international leaders but lack the recognition they deserve from investors, commentators and the Federal Government.
Sharing the Benefits: enhancing Australia’s global leadership in the mining value chain was a joint effort between the University of Queensland, the University of Western Australia and the Sustainable Minerals Institute.
Co-author Professor Ian Satchwell described Australian resources companies as a “formidable global enterprise” with diverse expertise. “A survey by Austrade in the five years leading up to 2013 shows those companies made three and a half times the value of discoveries outside of Australia than inside Australia,” he said.
“It also found that more than half of the mining companies they surveyed are operating offshore as well as in Australia, in some cases those companies operate offshore only.”
Australian mining companies have a very strong presence in Africa, with an estimated 38 companies working in the 54 African countries.
The figure is almost 200 when exploration and service businesses are included.
“In just five years they’ve uncovered more than $2 trillion worth of resources in Africa and elsewhere,” Professor Satchwell said.
Despite this, he believes the Australian Government is not capitalising on the efforts in the way the Canadian Government is.
“In Canada they very much understand what their mining companies are doing here and abroad, and they have an economic diplomacy program to support Canadian mining companies wherever they operate.
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