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Resources investment opportunities across the vast region of Latin America will be in sharp focus next week when Perth plays host to the Latin America Down Under mining investment conference for the first time.
Now in its fifth year, the 2016 Paydirt Latin America Down Under conference moves to Australia’s mining capital in response to investor interest and government support for the two-day forum.
Conference Convenor, Mr Bill Repard, said today that while Australia and Latin America were geographically wide apart, they shared remarkably similar levels of mineral endowment and this had created an initial corridor for mining investment.
“Latin America is already established as one of the world’s great mining regions but its untapped potential is heightening the expectations of visiting delegates and Australian investors ahead of the conference next week,” Mr Repard said.
There are an estimated 200-plus Australian explorers, miners, cornerstone investors and suppliers intimately linked currently with Latin American-based mineral resources projects.
But the desire to lift Australian involvement has attracted to Perth next week a record seven Ministerial delegations from across the Latin American region as well as Australian Heads of Mission in the region and executives of the Australian-Latin American Business Council.
Mr Repard said this high level of government interface was not surprising, given the 20% per annum growth rate in trade between the two regions in the past 15 years. However, with countries such as Cuba and Argentina returning to the international fold after years in relative isolation, the opportunity to further expand trade in areas such as resources, education, agriculture and tourism is driving current policy.
“A clear message from the first four years of Latin America Down Under has been that there are natural synergies between Australia and Latin America. By using shared skills-sets and knowledge bases, private and public interests in both regions can develop mining interests together,” Mr Repard said.
“However, Australia has been left with a clear message that it could do well to be more eager to lift its participation, or lose these emerging business opportunities to regions such as South East Asia which is rapidly embracing Latin America’s mining potential.”
The trade exchange between Australian and Latin America was worth US$500 billion in 2014 with expectations it will break the US$750 million barrier by just 2020.
The Conference will be opened by WA Mines Minister, the Hon. Sean L’Estrange followed by a video address by Federal Resources Minister, the Hon Josh Frydenberg.
