AAMEG CEO presents at WAMS Conference in Ghana

AAMEG CEO Roger Staley recently represented AAMEG at the 2023 West Africa Mining Security (WAMS) Conference held from 20-21 September in Accra, Ghana. 

The WAMS Conference was hosted by the Australian High Commission Ghana to provide mining and exploration managers and security professionals with current information on developments to inform security and investment decisions in West Africa.

Mr Staley’s speech focussed on celebrating the investment that Australian companies are making in the African resources sector.

SPEECH BY CEO ROGER STALEY, CHECK AGAINST DELIVERY
20 SEPTEMBER 2023, GHANA

INTRODUCTION

Thank you. Welcome. Akwaaba.

It’s great to be back at WAMS again this year.

Firstly, a little about the organisation I’m proud to represent, the Australia-Africa Minerals and Energy Group.

Since incorporation in 2010, AAMEG has become the peak body representing Australian explorers, operators, contractors, and service organisations engaged in the development of Africa’s resource industry.

We focus on delivering effective Advocacy on behalf of our members, strengthening Connections between them and all stakeholders, and by sharing Insights that help members successfully operate in Africa.

We also showcase excellence in sustainable development by Australian companies in Africa through the annual AAMEG Africa Awards.

AUSTRALIAN RISK MITIGATION FOR MINING IN AFRICA

When we ask our members why they want to join us, there’s a strong theme of risk mitigation. This includes the following five items, all of which will be covered by this conference:

1. Security of people, property and operations – which will dominate proceedings over the next two days;
2. But there is also security of title – and I want this to be considered as well, because there are several current examples whereby an Australian company has met all its operating conditions but suddenly found that their tenement has been made available to third parties;
3. In addition, and often related to the preceding two security items, our members are interested in Government nationalism;
4. Then there is political instability which is ongoing and an important consideration – but to my knowledge no Australian company in the region has had production or development affected by this.
5. And finally, our members are keen to mitigate against illegal mining – which we will also be covering during this Conference.

AUSTRALIAN INVESTMENT IN AFRICAN COUNTRIES

Now, to set the context for the Australian resource companies operating in the nine countries of accreditation for the Australian High Commission in Ghana, I’d like to share some statistics with you.

Last year, when I presented a similar insight to the Australian presence in West Africa, I included all Australian resource companies and their service providers.

This year I am only going to refer to the number of active properties, not the number of companies.

A data set derived last night (19th September, 2023) from S&P Capital IQ tells us that:

• Australia’s current investment in active African mineral resource properties is USD$24.5B across 35 countries.
• About half of this (USD$12.8B) has been invested by Australian mining companies in West Africa.
• Zooming in a bit further to the nine countries of accreditation covered by the Australian High Commission in Ghana, there are 37 active mineral properties held by Australian companies spread across eight of the nine countries. Togo is the only one without any known Australian resource company present.
• A total of USD$11.8B has been spent on the projects in these 8 countries to date. This is considered a conservative estimate because, in contrast to exploration companies that report expenditure in great detail every quarter, mining companies often amortise expenditure internationally for reporting purposes.
• It should also be noted that in the case of Mali and Cote d’Ivoire, Australia is the single largest foreign investor. This is purely the outcome of one Australian mining company’s investment in its projects in those countries.

And finally, if we apply reasonable commodity prices to the stated Resource and Reserves tonnages, the estimated in ground value of the projects being developed by Australian companies in the surrounding nine countries alone is USD$491B – let’s call it half a trillion US dollars.

AUSTRALIAN MINING COMPANIES ARE ALSO BRINGING CHANGE FOR THE BETTER

The companies making these investments are doing much more than digging holes in the ground and making big rocks into little rocks.  They are all ambassadors of Australia and the Australian way of doing the right thing.  As we see at the annual AAMEG Africa Awards, they are all delivering innovative environmental, social and governance programs to their host communities, i.e. bringing change for better.

CONCLUSION

In closing I would like to quote Australia’s Assistant Minister for Foreign Affairs, The Hon Tim Watts MP. He said in July last year – and again at the recent Africa Down Under Conference in Perth, “There has never been a more important time for [a stronger relationship with Africa]”.

He went on to say, “I see immense potential for us to build on the foundations we have, and to chart a pathway to strengthen our relationships with the countries of Africa.  We should redouble our efforts to build the future we all wish to see.”

Let’s hope this is indeed the case.  I really hope we can finish tomorrow with renewed enthusiasm to ensure Australia’s investment in the region is protected and supported.

Many thanks again and all the best to everyone for a rewarding event.

ENDS