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Business News of Friday, 16 November 2012

Source: GNA

Austrade Mission arrives in Ghana to explore business opportunities

Dr Craig Emerson, Australia Minister of Trade and Competitiveness said Austrade-led mining mission, (Australian businesses) is in Ghana to explore trade and investment opportunities in West Africa.

A statement signed by Dr Emerson copied to Ghana News Agency on Thursday noted, “fast-growing countries of West Africa offer business opportunities to Australian exploration, mining and mining services companies.”

The statement said demand for skilled workers in mines, as well as in agriculture and infrastructure sectors pointed to a potential role for Australia's international education institutions.

"Australian mining services companies recognized the opportunities of Africa, but this mission gives them actual exposure to the mines and broader market conditions.”

It said, "This is in keeping with the refocusing in Austrade on emerging and frontier markets where Australian companies often have more difficulty with market access and intelligence.”

"Companies taking part in this mission will meet mine managers and see for themselves the potential for their goods and services," he said.

The statement said West Africa was enjoying a period of stability and prosperity, recognizing this, the potential of the region for Australian businesses; the Australian Government was expanding its presence in the sub-region.

It said, “Dr Emerson in March announced Austrade would open a post in Accra, Ghana.”

The statement said Australian companies have about 90 resource projects in West Africa and that Australian investment in Africa stood at more than US$50 billion.

It said Austrade and Austmine, which represents Australia's mining equipment, technology and services industries, were the organizers of the 10-day business mission.

The statement said delegates of the mission would visit the mines in Ghana and Burkina Faso and be briefed on the mining sector and other aspects of commercial life in West Africa.

Ghana is Africa's second-largest gold producer after South Africa, and has more than 10 operating gold mines.

Burkina Faso's six operating gold mines make it Africa's fourth-largest producer of gold.

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