Helping developing countries manage their own resources
The Minister for Resources and Energy Gary Gray today released a new report that will provide guidance on how Australia can give a helping hand to developing nations to manage their own mineral and energy resources.
The Geoscience Australia report, commissioned by AusAid, details the known mineral and energy resources of 138 developing countries, along with insights into other factors that can influence investment including political, operational, security and terrorism risks.
In releasing the report, Minister Gray explained how many of Australia's development partners are endowed with substantial mineral and energy resources that could help propel them on a path to inclusive and sustainable development.
"Supporting the progression of this sector in developing nations assists poverty reduction and accelerates economic development by increasing government and community revenues, generating jobs and improving infrastructure," Mr Gray said.
"When developing nations have improved understanding of their often substantial mineral and energy resource potential, better skilled workforces and stronger governance practices, the likelihood of attracting mining exploration and investment is also vastly improved," Mr Gray added.
The assessment, provides crucial background and baseline information for the Australian Government's Mining for Development Initiative, announced by the Prime Minister, the Hon. Julia Gillard MP, in October 2011.
The Assessment of Mineral Potential, Geoscience Survey Capacity, Risk and Geological Aid in Africa, Asia, Latin America, and the Pacific is now available for download.