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Australian Mining Companies Investing Locally and in Latin America

Australian Mining Companies Investing Locally and in Latin America

Australia is world famous for its mining prowess, and strong peripheral equipment, technology and services industries (known locally as METS). Australian mining investments are showing promising signs of growth, both locally and abroad, in spite of competitive global conditions. As Australia achieves greater connectivity with key Latin American partners, opportunities present themselves for the country’s miners to expand abroad and invest in mining projects in the naturally wealthy region. Much like Australia, Latin America’s vast biodiversity holds significant deposits in highly sought-after minerals and metals. We explore investment activity from some of Australia’s top mining actors, both in their home country and in Latin America. Overview: Australia mining sector Much like Australia, Latin America’s vast biodiversity holds significant deposits in highly sought-after minerals and metals. Australia demonstrates world-class capability for mining productivity and innovation. It’s diverse landscapes house significant reserves in coal, copper, gold, and iron, among others. Mining represents 10% of the country’s overall GDP, making one of the highest-contributing sectors to the nation’s economic outputs. Australia plays a key role in technology and innovation in mining, with services industries that steadily growing, and have potential to become world leaders. Leading industry body Austmine supports and promotes some 600 companies in the METS sector that offer crucial value to Australia’s humming mining operations. While Latin America’s mining sector shows promise but lacks...

Closer Chile-India Ties Good News for Business

Closer Chile-India Ties Good News for Business

The global economic context is undergoing significant change in terms of emerging and shifting powers and trade conflict. As such, nations are poised to seek new, enduring partnerships to diversify trade channels and make the most of new potential. Chile and India demonstrate such opportunistic behaviour. Though the two established formal trade relations back in 1956, these countries didn’t place their bilateral relationship under the magnifying glass again until 2016, where a Preferential Trade Agreement saw them wipe a significant amount of tariffs from each other’s exported goods. Now, they're looking at a further refresh of their partnership, to enable greater commercial and human connectivity. This is good news for companies considering preliminary expansion options into Chile, or India. History Chile-India relations Chile was India’s first formal Latin American connection. They signed a bilateral trade agreement in 1956, but it wasn’t until 2005 that the two signed another agreement on a framework for further cooperation. This framework included a Preferential Trade Agreement, which was also finalized in 2005, coming into effect in 2007 for both countries. From there, the next milestone for the two regional powers came in 2016, when Chile was India’s third-largest trading partner. They set an ambitious target of expanding their Preferential Trade Agreement to significantly widen the scope for concessional duty rates on goods traded between them. At this time, India was importing US$1.96 billion worth of goods to Chile, and exporting around $0.68 billion, totalling...

Consider your Next Mining Venture in Ecuador

Consider your Next Mining Venture in Ecuador

Ecuador is a naturally rich country in essence. Not only does it possess a great variety of microclimates that allow it to have a great amount of animal and plant species, but it also has soils and waters with a very high mineral level. It’s not a novelty that Ecuador has been the target for the commercial and extraction operations of many of the largest companies of non-renewable energy resources. With oil being the most relevant sector in this regard, there are new horizons for investments in Ecuador for those who are searching of interesting business opportunities, given that oil is no longer the commodity leading the race. We are talking about mining. On June 12th, 2019, The Ministry of Energy and Non-Renewable Natural Resources of Ecuador announced the discovery of an underground mine with great potential for the exploitation of gold, copper and silver and that, due to its size, would be included among the largest in the world. Brief history of mining in Ecuador Although mining has been part of the Ecuadorian economy for the last decades, there has not been the expected boom in this sector. This is especially because of the geographic limitations of exploration and logistic problems. In old days, the Zaruma area in “El Oro” province at the south of Ecuador, was home to historic artisanal mining. With most of the most important mines in the country, Zaruma became a reference of mining in Ecuador. However, its scales of production and extractions never reached an internationally competitive level. However, a few years ago this changed. In 2014, one of the largest...

Opportunities for Service Companies in Chile’s Copper Sector

Opportunities for Service Companies in Chile’s Copper Sector

If you think about Chile’s economy, the first thing that probably comes to your mind is the mining sector, and with good reason. Chile possesses 29% of the world´s reserves of copper, 16% of molybdenum, 15% of silver and 54% of the world's lithium reserves. Nowadays, mining represents more than 60% of the country's exports and contributes around 13% to the national GDP. Also, the direct or indirect contribution of the mining sector to total employment is around 11%. In fact, historically, Chile has been known for its richness in natural resources, but it was not before the late 20th century that Chile became the world leader in copper exportation.     Latin America is known as a key mining region; with the region as a whole having a diverse abundance of natural resources. Chile stands out as a leader in the region and has an attractive legal framework, aimed at attracting foreign investment in the region. While Chile has greatly diversified its portfolio of sectors over the years, mining still remains a great contributor to the national economy. World mining leader, Australia, has a strong bilateral relationship with Chile, with both regions sharing skills and expertise in mining, in addition to other sectors such as agriculture. In fact, the two regions signed a Free Trade Agreement (FTA) in 2009, showing a strong commitment to strengthening commercial ties. Mining is one of the key components of this relationship. This relationship has provided the platform for Australian companies in the mining sector to enter the Chilean market-place and be part of the regions mining...

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