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Australia helps developing countries turn mineral resources into wealth

August 10, 2012

Foreign Minister Bob Carr today announced $4.9 million in aid funding for the Extractive Industries Technical Advisory Facility to help developing countries share the benefits from mining.

While visiting the International Mining for Development Centre in Perth today, Senator Carr said Africa’s exports of oil, gas and minerals are worth more than nine times the money it receives in foreign aid.

“This represents an opportunity for developing countries to use their mining wealth to drive their future prosperity,” Senator Carr said.

The Facility helps developing countries to understand, negotiate and analyse the complex financial, legal and environmental aspects of mining agreements.

Australia now joins Canada, Norway, Switzerland, the International Finance Corporation and the World Bank in supporting the Facility.

Senator Carr said the International Mining for Development Centre brings Australia’s world leading expertise in mining to resource rich developing countries through education.

“The Centre is an example of Australian know-how that delivers global benefits,” Senator Carr said.

The Centre is a partnership between AusAID, the University of Western Australia and the University of Queensland, launched by Prime Minister Gillard at the Commonwealth Heads of Government Meeting last year.

By 2015 the Centre will train 2000 people in the management of mineral resources.

3 Comments
  1. Matthew Baird permalink
    August 10, 2012 12:07 pm

    Let us hope that the environmental and social assessment of mining is a key part of this initiative.

  2. Bob Carr permalink*
    August 10, 2012 6:32 pm

    It is, strongly.

    • Wesely permalink
      August 18, 2012 2:48 pm

      And just how are these initiatives to be delivered “strongly” Bob?

      To date Australian aid in this sector has had a near if not negligible impact in changing the negative effects of mining in developing nations, and, the building of a proper and sound foundation for appropriate governance systems and free market based economics.

      PNG is a classic example, where the World Bank/EU and Australian Aid Policy has almost entirely failed to effectively deliver.

      Not a squeak from the touted Extractive Industries Technical Advisory Facility/ International Mining for Development Centre, in Perth.

      This is despite a desperate need and desire for change in the developing world to transparent free market systems of regulatory practice.

      Not only do these governance systems provide a foundation for a properly regulated free market investment base in the developing world but they also tend to eradicate corruption and poor governance practices in other areas.

      I don’t want to appear critical but I believe the Federal Government’s 4.9 million Federal Donation is, with the utmost respect, token and insulting, particularly given the Federal governments heavy taxation on the Mining Industry within Australia.

      Federal politicians (like you Bob) seriously commit to real (as opposed to token) on ground nation/industry/capacity building programs in the developing world the boat people are just going to keep coming.

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