From AAP via Business Spectator

 Australian mining companies operating in Africa have the potential to unlock almost $700 billion of mineral wealth, an industry group says.

Australia Africa Mining Industry Group (AAMIG) chief executive Trish O’Reilly says there are more than 200 Australian companies involved in mining extraction and services activities in Africa, which will boost economic growth throughout the continent.

“Ground discoveries made by Australian companies amount to $687bn of value and it is this mineral wealth that Australia can help unlock and translate into socio-economic growth,” Ms O’Reilly told the Africa Down Under mining conference.

More than 1,000 resources projects were at various stages of development across 38 African countries, she said.

Australia was able to contribute world class technology, mining expertise, governance and community development initiatives, Ms O’Reilly said.

Meanwhile, AAMIG continues to focus on combating bribery and corruption and improving security and transparency in Africa.

“Recently we held sessions to look at bribery and corruption and looked at the real issues on the ground,” Ms O’Reilly said.

AAMIG has also identified cyber security as a key threat to the Australian resource industry in Africa, and plans to hold forums with Australian government intelligence services.

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