Download - Day 2 - Opening Keynote (Emerging Mining Destinations) and Session 4 (Resource Nationalism)
GLOBAL MININGINVESTMENT CONFERENCE 2010
STATIONERS’ HALL ● CITY OF LONDON ● TUESDAY-WEDNESDAY, 28-29 SEP 2010www.ObjectiveCapitalConferences.com
Investment Conferences
Opening Keynote: Emerging Mining DestinationsDavid Hutchins – Fund Manager, Grafton Resources
How are governments responding to the resource crisis Jaakko Kooroshy – Policy Analyst, The Hague Centre for Strategic Studies
Making your jurisdiction attractive to miningStuart Russell – Senior Trade & Investment Manager , Government of Western Australia
DAY 2 – OPENING KEYNOTE: EMERGING MINING DESTINATIONS
– SESSION 4: RESOURCE NATIONALISM
Other sponsors & participating organisations:
GLOBAL MININGINVESTMENT CONFERENCE 2010
Lead sponsors:
Media partners:
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Grafton Resource Investment Limited
A Resources BasedRealisation Fund
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Disclaimer
THIS DOCUMENT IS CONFIDENTIAL AND IS BEING SUPPLIED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BEREPRODUCED, FURTHER DISTRIBUTED TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE.
The information contained in this document (“Presentation”) has been prepared by Newland Fund Management LLP (“Newland”) acting on behalf of GraftonResource Investments Limited (the “Company”). It has not been independently verified and is subject to material updating, revision and further amendment. ThePresentation does not constitute an admission document, listing particulars or a prospectus relating to the Company in any jurisdiction, does not constitute anoffer or invitation to purchase or subscribe for any securities of the Company and should not be relied on in connection with a decision to purchase or subscribefor such securities. The Presentation does not constitute a recommendation regarding any decision to sell or purchase securities in the Company. ThePresentation is being delivered for information purposes only to a limited number of persons who are lawfully permitted to receive it.
Information contained herein is confidential information and the property of the Company. It and any further information made available to any recipient must beheld in complete confidence and may not be reproduced, used or disclosed in whole or in part without the prior written consent of the Company. The Presentationshall not be copied, reproduced or distributed in whole or in part at any time without the prior written consent of the Company.
While the information in here has been prepared in good faith, neither the Company nor Newland Asset Management LLP (“Newland”) nor any of their respectiveshareholders, directors, officers, agents, employees or advisors give or have authority to give, any representations or warranties (express or implied) as to, or inrelation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information madeor to be made available to any interested party or its advisors (all such information being referred to as “Information”) and liability therefore is expresslydisclaimed. Accordingly, neither the Company nor Newland nor any of their respective shareholders, directors, officers, agents, employees or advisors take anyresponsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortuous, statutory or otherwise, in respect of, the accuracy orcompleteness of the Information or for any opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from theuse of this Presentation.
This document is only addressed to and directed at persons in member states of the European Economic Area who are (i) a “qualified investor” within themeaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) (“Qualified Investor”) and (ii) an “eligible counterparty” within the meaning of Article24 (2), (3) and (4) of Directive 2004/39/EC (“MiFID”) as MiFID is implemented into national law of the relevant EEA state (“Eligible Counterparty”).
In addition, in the United Kingdom this document is being distributed only to, and is directed only at Qualified Investors who (i) have professional experience inmatters relating to investments falling within Article 19(5) of the United Kingdom Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 asamended (the “Order”) and (ii) are Eligible Counterparties or Regulated Professional Clients within the meaning given in COBS 3.6.1 & 3.5.2 of the FSAHandbook as at 1st November 2007 (such persons together being referred to as “Relevant Persons”).
This document has not been approved by an authorised person. Any investment to which this document relates is available only to (and any investment activity towhich it relates will be engaged only with) Relevant Persons. This document is directed only at Relevant Persons and persons who are not Relevant Personsshould not take any action based upon this document and should not rely on it. It is a condition of you receiving this document that you warrant to the Newlandthat you are a Relevant Person.
The information contained herein is not for publication or distribution to persons in the United States of America, its territories or possessions or to any US person(within the meaning of Regulation S under the US Securities Act of 1933, as amended). Any failure to comply with this restriction may constitute a violation ofUnited States securities law. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this documentcomes should inform themselves about, and observe, any such restrictions. The securities referred to here are not being registered under the US Securities Act of1933, as amended, and may not be offered or sold in the United States without registration or an exemption from registration.
Certain statements contained in this document constitute "forward-looking statements". Such forward-looking statements involve risks, uncertainties and otherfactors which may cause the actual results, performance or achievements of the relevant entities, or the results, to be materially different from any future results,performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that the results and events contemplated bythe forward-looking statements in this document, will in fact, occur.
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Overview
Grafton Resource Investment Limited (‘Grafton’ or ‘the company’) focuses on developing and realising a small portfolio of selected assets
The company was formed at the end of 2008, by the founders of the successful ‘Resources Investment Trust’, to take advantage of the low valuations of companies in the resources sector
Grafton engages in an active management style and will look to encourage consolidation and other corporate activity.
The company was established as a dedicated resources based realisation fund. It is a closed-end fund with a 5 year life. After this period, cash will be returned to shareholders.
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Overview
Grafton had an NAV per share of $39.05 on the 31st August(1,864,645 shares outstanding)
Grafton has evolved as an incubator in the resources sector. The company is concentrating on marshalling assets (approximately $80m) to develop its portfolio of resource companies to a stage where they can be:
A. Sold to third partiesB. Listed on a recognised stock exchangeC. Developed so that they are cash generative for
the group
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Investment Case
Through some of its main investments, Grafton has a net interest in:
A. 1.20bn bbls of oil (250 million recoverable)B. 33M tonnes of iron oreC. 220,000 oz of JORC gold resourceD. 23,000 hectares of rare fallen lumberE. 50% of Bulgaria's largest independent water project
Excluding the top 6 ventures outlined below, the remaining companies in Grafton’s portfolio are valued at ~ US$14m, with ~61% listed on a recognised stock exchange.
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Grafton Resource Investments Ltd NAV per share
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Grafton’s Assets (31/08/2010)
Company Percentage
Madagascar Oil 28.5%
Hydrostroi Bourgas 16.3%
Phoenix Lumber Co. SA 10.3%
South American Ferro Metals 9.1%
Compostela Mining 3.6%
Kolar Gold 3.4%
Other Unlisted Companies 6.8%
All Listed Companies 10.5%
Termed Deposit 5.1%
Net Current Assets 6.3%
Total 100%
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Grafton Resource Investments Ltd Commodity Breakdown
Precious Metals15%
Energy34%
Base Metals15%
Water and Timber30%
Other6%
Commodities Breakdown (31/08/2010)
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Directors and Management Peter Seabrook – Director
Peter is a graduate of Oriel College, Oxford, and has over twenty years experience asan investment manager. He joined Fleming Investment Management Limited in 1984and became a director of Robert Fleming Holdings Limited in 1994. During histenure there he was appointed UK chief investment officer. In 1997 Peter movedto Societe Generale Asset Management in a similar role, and after leaving in 2002 heheld the post of chairman at Ocean Resources Capital Holdings until 2007.
David Hutchins - DirectorDavid has 20 years’ experience as a resources analyst and fund manager. His careerbegan with the Melbourne Stock Exchange in 1979 and subsequently became anexecutive director of M&G Investment Management. He headed the International Deskat M&G Investment Management from 1995, where he was concurrently responsible forM&G's investments in the precious metals and commodities sector globally. He wasa founding director of Resources Investment Trust plc at the launch in January 2002and is a non-executive director of Rivington Street Holdings Plc and a non-executivedirector of Australian listed SA Metals Limited.
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Kjeld Thygesen – Fund ManagerKjeld is a graduate of the University of Natal in South Africa and has 30 years experience as aresources analyst and fund manager. His resume includes managing a portfolio of South Africanmining companies for African selection trust, working with James Capel and Co. in London as part oftheir highly rated gold and mining research team, and manager of N M Rothschild &Sons' commodities and Natural Resources Department in 1979. In 1987 he became an executivedirector of N M Rothschild International Asset management Limited, subsequently co-founding LionResource Management Limited, a specialist investment manager in the mining and natural resourcessector. Kjeld has been a director of Ivanhoe Mines Ltd since 2001 and served as Investment Directorfor Resources Investment Trust PLC from 2002 – 2006.
David Cather – Consulting Mining EngineerDavid graduated from the Royal School of Mines, Imperial College, and has extensive experience inthe development and management of a wide range of resource projects. He has held seniorexecutive positions at operational and line management levels with both De Beers and AngloAmerican. David is a Chartered Engineer, a member of IoM3, and a Competent Person. He is adirector of Compostela Mining Limited, an exploration company with copper/gold porphyry assets inthe Philippines.
Willie West – ConsultantFormer Partner, Potts West Trumbull, Members of the Australian Stock Exchange. Sold to Prudential Bache 1990. Venture capital investor together with clients in Eastern European start-ups, including $100 million raise for Hungarian Investment Co. Ltd., in conjunction with John Govett in 1990; the provision of $500 million of “seed capital” for the development of early stage resources in Eastern Europe and the former Soviet Union. Latterly a founder of Resources Investment Trust plc and thereafter the development of a $200 million venture capital portfolio in the resource sector.
Directors and Management
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About the Fund
Quoted on the Irish Stock Exchange All securities are held directly to the order of
the fund by BNY Mellon, which is the administrator and custodian.
No prime broker or margin facilities. Sole debt is the convertible loan stock Portfolio contains 38 stocks, but its value is
heavily weighted towards core development projects
The top 6 holdings, accounting for ~80% of the portfolio, are outlined below
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Madagascar Oil (MOL)
Oil exploration company in Madagascar with PSC’s over two major blocks -Bemolanga and Tsimiroro
DeGoyler & McNaughton and Netherland Sewell have produced independent assessment of the resources for Bemolanga and Tsimiroro respectively
Bemolanga contains an estimated resource of 9.8bn bbls of bitumen (2.5 bn bbls recoverable). Madagascar Oil owns 40% after farming out 60% to TOTAL for $100m.
Tsimiroro contains an estimated resource of 5.5 bn bbls of which 0.94 bn bbls classified as “Contingent”. MOL owns 100% of the field.
MOL therefore has a net reserve of 1.94 bn bbls. Grafton own 12.71% of MOL and so can be said to ‘have a net interest in ~ 0.25bn bbls of recoverable heavy oil.
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Hydrostroi Bourgas
Partially built water reservoir near Bourgas, Bulgaria – a water stressed area
Asset acquired by H-B. Debt finance being arranged for completion of
dam, water treatment plant and infrastructure First sale of water anticipated in Q2/11. Annual
volume average 6.5mm3. NPV12 = €34.6m. Annual free cash flow
estimated at €5m. On 8x multiple, this gives a FV of €40m.
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Phoenix Lumber Company SA
Phoenix Lumber Company SA (Phoenix) have, under licence and option, 50,000 hectares of the hurricane hit North-West region of Nicaragua, from which they are extracting rare hardwood timber
Phoenix expects the project to conclude by 2015, with cash returned to investors. Total cash flow for the project is estimated at circa $100m
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South American Ferro Metals
South American Ferro Metals (SAFM) has, through its fully owned subsidiary, acquired the rights to the Ponte Verde property in Minas Gerais, Brazil
The Ponte Verde property has been partly drilled with the geology well understood, and contains an estimated 150 Million tonnes + of hematite rich itabirite, grading 39% in situ, increasing to 65% on beneficiation
A further drilling programme will bring the resource to JORC standard in 2010
Based on a price of US$ 40 per tonne at the mine gate, cash costs of around US$ 12.0 per tonne and an output of 3.0 Mtpa, this generates an estimated enterprise value of US$ 250- 300 million
RTO agreed with ASX listed Riviera Resources
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Compostela Mining
Gold exploration project adjacent to infamous Mt Diwalwal gold rush area, Mindanao, Philippines
Unique “Operating Agreement” implemented over 950 ha of tribal land
Drilling commenced in Q4/09 which has confirmed high sulphidation mineralisation associated with gold and base metals. Initial set of assay results imminent.
Viewed as similar potential to Medusa Co-O Mine –50km to north. 100kozpa. Market cap of $600m.
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Kolar Gold Plc Data regarding the Kolar gold fields, located in
southern India, indicate a world class gold asset, with an estimated resource of ~10Moz Au
Kolar Gold Plc (KG) has a JV with the United Mine Employees Co-operative Society with the first and last right to acquire the mining leases and assets of the Kolar gold fields
Short term cash flow is possible through a low capex tailings project, and a JORC resource of 10Moz would be worth over $500m
Kolar is also pursuing a deal with Geomysore Services India to take a stake in several high potential exploration projects around the region of Karnataka, India
Grafton owns approximately 15% of KG
Other sponsors & participating organisations:
GLOBAL MININGINVESTMENT CONFERENCE 2010
Lead sponsors:
Media partners:
THE NEW POLITICAL ECONOMY OF RARE METALS
Global Mining Investment ConferenceLondon, September 29, 2010.
JAAKKO KOOROSHY
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INTRODUCTION
The Hague Centre of Strategic Studies (HCSS)
•Independent think-tank providing strategic orientation and navigation services•Clients range from national governments, transnational organizations to private companies & NGOs•Young, rapidly growing organizations with excellent European and trans-Atlantic ties•“Natural resource scarcity”(= political economy of commodity markets) among key topics•Focus on the political economy of rare metals with much in-house expertise, an excellent track-record and strong networks
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SCARCITY: AGE OLD FEAR & FASCINATION
I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, "A quart of wheat for a dinares, and three quarts of barley for a dinares”
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WHY COMMODITIES MATTER AGAIN…
• “new economy” (1995-2001) >> “revenge of the old economy” (2004) >>“revenge of the old political economy” (2008) >> “new normal” (2009-?)
• Commodities key part of the story, with
• high price levels and strong volatility• tight markets and supply side constraints• states and their proxies (SWFs, SOEs, regulatory bodies) as key actors in markets• added factor Climate Change debate
Intense politicization and securitization of commodity markets
Commodities as key strategic issue in a multipolar world
Emerging nexus of environmental, economic & security policy
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WHY COMMODITIES MATTER AGAIN...
AGRICULTURAL CROPS
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Base Metals Index
Food
Energy
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GOVERNMENT INTERVENTION IN RARE METALS MARKETS
•Rare metals are especially prominent in the resource debate due to:• Western import-dependence & crucial role of China • indispensability for high- & green-tech applications• inelasticity & concentration of supply• fast-growing & highly volatile demand
This creates supply security concerns and makes (some) metals
into “strategic” resources!
The strategic value & political economy of each metal is
unique, evolving rapidly, and …
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GOVERNMENT INTERVENTION IN RARE METAL MARKETS
•In response to supply security concerns, importing countries• designate particular rare metals as “critical”• actively monitor supply and demand• create stockpiles & develop domestic supply• diversify & secure supply • regulate trade and consumption
•Authorities of exporting countries seek to• increase profits through taxation, licensing, nationalization• control valuable downstream industries through preferential supply or export restrictions• use rare metals as strategic bargaining chips.
… this can matter greatly for the success of business ventures
and investments in the market for a given rare metal!
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•Raw Materials Initiative (RMI) led by DG Enterprise & Industry resulted in the 2008 Communication with focus on non-energy mineral resources:
•Ensure equal access for European industry globally•Promote supply expansion from European sources•Boost resource efficiency and recycling
•Follow-up EU criticality study released June 2010:•Examines 41 minerals and metals with 14 labeled as “critical”•Recommends to tailor policy responses for each critical material•Extensive consultation process has just been wrapped up
• Watch out! A new Commission Communication on latest developments and the progress of the RMI at the end of this year
EUROPEAN POLICY RESPONSE TO RARE METALS DEBATE
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Source: European Commission, DG Enterprise and Industry “Critical Raw Materials for the EU” Brussels, 2010.
EUROPEAN POLICY RESPONSE TO RARE METALS DEBATE
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EU 2020 strategic targets:
•20% less carbon emissions•20% energy savings•20% green energy supply
•The Joint Research Commission (JRC) is examining rare metals supply chain bottlenecks that might prevent realization of 2020 Targets
•Will list metals that provide serious obstacles to deploying high-priority energy technologies
•Includes concrete recommendations how to ensure adequate supply
•HCSS, Oakdene Hollins, and Namtec in the lead
•Part of the European policy formulation process, study to be published Spring 2010
COMMISSION RESEARCH INTO RARE METAL SUPPLY CHAIN BOTTLENECKS
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•Close cooperation between various ministries, BGR & corporations, with a new “Rohstoffagentur” as central actor •Strengthening of bilateral cooperation with resource-rich developing countries •International engagement to lower market distortions and promote global investments through “ungebundene Finanzkrediete” (UFK)
MEMBER STATE RESPONSES: GERMANY
A driving force behind the EU Raw Materials Initiative (RMI)
Following ongoing “Rohstoffdialog”, the German government is currently finalizing its new “Rohstoffstrategie”. Key elements are:
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•The announced creation of a “Comité pour les metaux strategiques” (COMES) has been delayed
MEMBER STATE RESPONSES: FRANCE
•Key elements of the plan:
•Exploration for REEs (€ 6 mil.)
• R&D around gallium, germanium, niobium, PGMs & REEs (€140 mil.)
•Recycling of rare metals(€ 250 mil.)
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•Treasury Department (2008) has promoted laissez-faire approach
•Earlier criticality study followed up by a new study with AEA in the lead, commissioned by DEFRA
•New UK government yet to take a stance on the issue
MEMBER STATE RESPONSES: UK
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• EU is stepping ahead with member states’ responses still fragmented:
•Germany is in the lead•Strong French response has been somewhat delayed•UK is still looking to develop a coherent policy
•Compared to US and Japanese efforts to ensure supply security:•No stockpiling •No establishment of domestic / Western supply chains for rare metals•Little government investments as of yet
This might change very fast!
CONCLUSION: WHERE DOES EUROPE STAND ON RARE METALS?
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SHORT RECAP
•Like other commodity markets, the markets for metals have become subject to intense politicization and securitization
•In times of the “new normal”, the unique political economy of each metal market creates specific threats and opportunities for miners and investors
•Grasping, anticipating and navigating this political economy is rapidly becoming a key determinant to business success in the world of mining
•HCSS is a reliable partner in strategic orientation & navigation
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SHORT RECAP
•Questions???•Please get in touch!
Other sponsors & participating organisations:
GLOBAL MININGINVESTMENT CONFERENCE 2010
Lead sponsors:
Media partners:
Making your jurisdiction attractive to mining(while at the same time driving Australia’s economy!)
Stuart RussellSenior Trade & Investment Manager
Government of Western Australia – European OfficeGlobal Mining Investment ConferenceLondon, 29 September 2010
Broad policy objectives in Western AustraliaThe policies: Designed to encourage the continued
responsible development of the State’s resource industries.
Key priorities:1. To improve the State’s legislative and regulatory
framework2. To support exploration and development3. To put an emphasis on safety and sustainability4. To maximise the benefits from the minerals and
petroleum industries to the Western Australian community.
About Western Australia
Nation’s largest state, covering one third of the continent.
Population of 2.2 million.
Abundance of natural resources: minerals, energy and agriculture
Relaxed lifestyle with high quality infrastructure.
Gateway to Asia
World Leader in Mineral and Energy Production Oil & Gas
Lead/ZincBauxite
DiamondIron Ore
Nickel
Perth
Titanium MineralsOil & Gas
Oil & GasSalt
Iron Ore
NickelGoldGold
Iron OreCopper/Zinc
Nickel
BauxiteTitanium Minerals
GoldManganese
Chromite
Nickel
CoalTantalum
Tantalum
Big State provides wealth of opportunities
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Zircon
Tantalum
Salt
Rutile
Nickel
LNG
Iron ore
Ilmenite
Gold
Garnet
Diamonds
Alumina
SELECTED WA COMMODITIES RELATIVE TO WORLD PRODUCTION ENDING
2009, BY QUANTITY
Western Australia Rest of Australia
Source: DMP, ABARE and USGS
Western Australia’s resource production is both world scale and world class
Top ten export destinations (2009-10)
Source: Australian Bureau of Statistics
Investor-friendly State Government
Since coming to office in late 2008, the new State Government has:
Created a new department to focus on the mining and petroleum sector
Accelerated approvals relating to mineral titles Now allows uranium exploration and mining Welcomes investment in small to large mineral and
energy projects Implemented an Exploration Incentive Scheme
Exploration Incentive Scheme assists explorers
An $80 million package that provides: A drilling subsidy to innovative explorers
A stimulus for applied research relevant to exploration
Complete coverage of WA by 400 metre line spacing airborne magnetic and radiometric surveys
Major gravity surveys and deep seismic lines
New online systems for industry to lodge applications relating to mineral titles and track their progress through approvals processes
0
500
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1,500
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Expl
orat
ion
expe
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re ($
mill
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Valu
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($ m
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OTHERSALTCOALDIAMONDHEAVY MINERAL SANDSGOLDALUMINANICKELIRON OREPETROLEUMMinerals + Petroleum Expl Expend
Resource production depends on exploration
Mineral exploration expenditure in WA (2009–10 dollars)
0%
10%
20%
30%
40%
50%
60%
70%
0
200
400
600
800
1000
1200
140019
64–6
5
1966
–67
1968
–69
1970
–71
1972
–73
1974
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1976
– 77
1978
–79
1980
–81
1982
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1994
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1998
–99
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–01
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–03
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WA
/Aus
t %
WA
annu
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xplo
ratio
n ex
pend
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($ m
illio
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WA/Aust %
Uranium exploration expenditure, Western Australia
0
10
20
30
40
50
6019
79–8
019
80–8
119
81–8
219
82–8
319
83–8
419
84–8
519
85–8
619
86–8
719
87–8
819
88–8
919
89–9
019
90–9
119
91–9
219
92–9
319
93–9
419
94–9
519
95–9
619
96–9
719
97–9
819
98–9
919
99–0
020
00–0
120
01–0
220
02–0
320
03–0
420
04–0
520
05–0
620
06–0
720
07–0
820
08–0
920
09–1
0
Ann
ual e
xpen
ditu
re ($
mill
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Oakajee Port, Rail and Industrial Estate – A$10 Billion+ project
“the single most important project for Western Australia’s economic development over the next 50 years”Premier Barnett, March 2009.
Existing Ports in Western Australia
Site for proposed Oakajee Port
Anketell Port & SIA
This project includes the development of the Anketell Port and Strategic Industrial Area (SIA) to: Facilitate future mining
development in the Pilbara Develop a multi user deep
water port and industrial area that will cater for the project proponents as well as future users
The Anketell project will be managed by a single foundation proponent – yet to be determined
RSPT - MRRT?
Source: AME, Wood Mackenzie, ANZ
Coking Coal Import Demand (million tonnes)
India jumps to largest coking coal importer in 2015
2009 20152009 2015
2009 2015
2009 2015
2009 2015
2009 2015
2009 20152009 2015
USA
CHINA
Brazil
JapanEurope
Taiwan
Korea
32
53
30
5 10
49
66
1727
1225
6 834
62
76
INDIA
Perth is an Attractive Base for Companies and Talent Shift in corporate influence to the West driven by Perth’s strategic
location - access to natural resources, capital, and a quality lifestyle.
Perth is home to more than a dozen listed companies with market value greater than AU$1 billion – including Woodside, Shell, BHP Billiton, Rio Tinto, Chevron, Newmont Mining, Fortescue Metals Group, Wesfarmers.
It is also home to major petroleum and mineral resources sector research and development facilities and industry bodies including the Association of Mining & Exploration Companies.
Since 2007, Perth has become home to 80 more companies. The total of 783 extends the lead over Sydney (672), Melbourne (362) Brisbane (183) and Adelaide (95).
Australia was ranked 6th in the 2009 World Quality of Life IndexSource: UWA Committee for Perth Study, September 2009
IMD World Competitiveness Online 1995-2009; Austrade
Where to from here?…..
Follow up to obtain information on opportunities in Western Australia by: Joining in various conferences & exhibitions –
MPES 2010 Mine Planning & Equipment Selection, Fremantle1 December 2010 (www.ausiim.com.au)
AJM’s 14th Annual Global Iron Ore and Steel Forecast Conference, Perth22 March 2011 (www.globalironore.com.au)
Visiting Perth independently or as part of a Business Mission 16-18 December 2010
Follow up with our Office
Contact details
Stuart RussellSenior Trade & Investment Manager
Government of Western AustraliaEuropean Office5th Floor, Australia CentreCorner of Strand and Melbourne PlaceLondon WC2B 4LG – United KingdomTel: +44 20 7395 0564 | Fax: +44 20 7240 6637Email: [email protected]: www.wago.co.uk
Other sponsors & participating organisations:
GLOBAL MININGINVESTMENT CONFERENCE 2010
Lead sponsors:
Media partners: