commonwealth mining network
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Commonwealth Mining Network. Peter Longworth Director-General & CEO, CBC November 2012. About CBC. - PowerPoint PPT PresentationTRANSCRIPT
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Commonwealth Mining Network
Peter LongworthDirector-General & CEO, CBC
November 2012
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About CBC
• The Commonwealth Business Council (CBC) was established in 1997 with a direct mandate from Heads of Commonwealth Governments to promote trade and investment amongst 54 member nations and increase economic linkages with non‐member countries.
• CBC’s goal is to achieve economic empowerment for shared global prosperity through the enhancement of private sector contribution to social and economic development.
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Commonwealth members in international groupings:• 1 permanent member of the UN Security Council• 2 members of the G8• 3 members of the EU• 5 members of the G20• 20 members of the AU• 2 members of ASEAN• 5 members of SAARC• 12 members of CARICOM• 1 member of OPEC
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• 54 member countries account for 30% of the world’s population and about 20% of international trade• IFC Doing Business Report 2010: 5 Commonwealth countries in world top 10: Australia , Canada, New
Zealand, Singapore, UK• IFC Doing Business Report 2010: 17 of the top 20 places to do business in Africa are in the
Commonwealth
The Commonwealth in the Global Economy
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Top 10 Mining Companies
Out of the top 10 mining companies in the world, 8 of them are listed in Commonwealth countries.
Company Market Cap (USD) Listed
BHP Billiton 182.0 B UK & Australia
Rio Tinto 97.2 B UK & Australia
Vale 56.8 B Brazil
Xstrata 46.5 B UK & Switzerland
Anglo American 41.7 B UK
Glencore 39.3 B UK & Switzerland
Barrick Gold 39.0 B Canada
Freeport - McMoRan
37.0 B USA
PotashCorp 35.0 B Canada
Goldcorp 34.6 B Canada
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• Canada is a global mining giant and is one of the world’s leading mining nations.
• 58% of the world's public mining companies are listed in Toronto.
• In 2011, 90% of all mining equity financings were completed on the Toronto Stock Exchange (TSX) and its sister Venture Exchange (TSX-V), representing 40% of all mining equity capital raised worldwide.
Commonwealth Mining Potential
Canada
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Australia• The number of small cap IPOs on the
Australian stock exchange increased by 10% in 2011 to 92 listings (of which 78 were from junior mining companies).
• Last year export earnings from minerals and energy commodities reached $175 billion and accounted for 60% of Australia’s total goods and services exports.
• In 2012 they were forecast to reach $215 billion – an increase of 21%.
Commonwealth Mining Potential
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London
• London is the world’s biggest centre for investment in the minerals industry.
• Nearly 40 mining companies are listed on the Main Market, London Stock Exchange, including some of the world’s largest mining corporations.
• Approximately 160 mining companies are quoted on the AIM. • Over US$ 28 billion was raised on LSE markets by mining companies in
the last five years, including $10 billion by Glencore in 2011.
Commonwealth Mining Potential
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Africa
Africa produces more than 60 metal and mineral products and is a major producer of several of the world’s most important minerals and metals including Gold, PGE’s, Diamonds, Uranium, Manganese, Chromium, Nickel, Bauxite and Cobalt.
Source: http://africaanswerman.com
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Mining Potential in Commonwealth Africa• Botswana• Cameroon• Ghana• Kenya• Malawi• Mozambique• Namibia• Nigeria
• Rwanda• Sierra Leone• South Africa• Swaziland• Tanzania• Uganda• Zambia• (Zimbabwe)
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Case Studies on the Development Impact of the Mining Industry in Africa
Ghana
• Increased mining investment since mid 1980’s contributed to the advancement of the national economy.
• Income poverty levels were reduced at national and local levels. The greatest poverty reduction was in the four mining regions – lower than the remaining 112 districts in Ghana, outside of Accra.
Tanzania
• Research indicates that by 2017, 6 -8 % of all government tax revenue will be made up of five major gold mines.
• Gold mining is responsible for US$750 million of Tanzania’s export earnings. Botswana
• Mining contributes 34.2% of the country's GDP and 50% of its tax revenues, representing a dramatic growth in the mining industry since Botswana’s independence, where mining contributed just 1% to GDP.
• Botswana’s mining industry provides employment for approximately 13 000 people.
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Canada in Africa • Africa accounts for about 17 % of
Canadian mining assets abroad. • Next to South African investments,
companies registered on Canadian stock exchanges now represent the most important source of investment in mining in Africa.
• Canadian mining investment in Africa nearly quadrupled between 2005 and 2010, from C$6.0 billion to over $23.6 billion.
Source: http://crossedcrocodiles.wordpress.com
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Australia in Africa
• Committed and planned investment by Australian companies in African resources projects is more than $50 billion
• There are now at least 230 Australian companies with approximately 650 projects in mining exploration, extraction and processing, spread across 42 countries in Africa.
• Australian mining companies are the third-largest group of miners in Africa.
Source: http://www.bdlive.co.za
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The Commonwealth Mining Network
• Founded at the Perth Commonwealth Business Forum in October 2011. • Welcomed as an “important initiative” by the Australian Prime Minister,
Julia Gillard, and endorsed by other Commonwealth Heads of Government at the Perth Commonwealth Heads of Government Meeting.
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CBF Mining Sponsors
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The CMN’s Aims• To provide a Commonwealth-wide platform to support cooperation
between mining and mining service companies, mining chambers, Governments and NGOs with mining interests.
• To provide a bridge between the major mining and financial centres of the Commonwealth.
• To provide a platform for engagement between developing countries and NGO’s on mining development matters.
• To raise pan-industry standards for safety, sustainability, value addition,
technology transfer, training and skills and local content development.
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Role and ImplementationCommonwealth Mining Network services: • Top Level Policy Dialogue - facilitating discussion on policy issues of interest to
the public and private sector.
• Market-led Approach - Business Development and Matching - development of structured partnerships between companies and institutions through country mining missions, investment roundtables and a managed project database.
• Facilitating access to a range of services provided by members including: – Capacity Development– Sharing knowledge of best practice– Advisory and technical services for all aspects of mining
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Founding Supporters of CMN
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What We Are DoingCBC is currently developing an active programme for theMining Network: • During 2012 we have held investment promotion activities with the Heads of
Government and Mining Ministers from Ghana, Kenya, Mozambique and Zambia.
• Algy Cluff addressed a Commonwealth Mining Network Breakfast in London
on opportunities in Africa. • CBC hosted a delegation of Australian Rare Earth exploration companies and
research institutions led by the Chamber of Minerals and Energy from Western Australia.
• CBC is supporting the work of the International Mining for Development
Centre in Australia.
• We are working with a number of Indian companies looking for coal assets.
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What We Want to Do in 2013 • Establish a mining training centre in Mozambique.
We are working with the Curtin School of Mines on this.
• The Mozambique Government have asked us to organise a delegation of Mining Service companies to visit in early 2013.
• The Nigerian Government have asked for our help in encouraging more exploration companies to invest in Nigeria.
• We want to hold a high level African Mining Summit in London in July 2013.
• Look beyond Africa to other Commonwealth Mining
Centres.
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What We Need• CBC has unrivalled access to governments
and many of the major Commonwealth mining companies. But we need stronger relationships with the wider industry and mining financers.
• To make the CMN fully operational we are seeking seed funding from Commonwealth governments and looking at other options.
• We would be grateful for any ideas you had on how we could develop the CMN..............?