Government announces resources management assistance
The Federal Government has unveiled a new plan of how it intends to assist developing nations sustainably develop their mineral and energy resources.
Prepared by Geoscience Australia, the report details the known mineral and energy resources of 138 developing countries, along with insights into other factors that can influence investment in their resources sectors, such as optical, operational, security risks.
Minister for Resources and Energy, Gary Gray, was recently in Sydney last week for the release of the report for the global conference of Extractive Industries Transparency Initiative (ETIT) and bilateral meetings with miners from Iraq, Mozambique, East Timor and Mongolia.
"Supporting the progression of this sector in developing nations assists poverty reduction and accelerates economic development by increasing government and community revenues and this revenue can generate jobs and improve infrastructure," Mr Gray said.
"Poor management of resources can initiate a wave of economic stagnation, corruption, and conflict – resulting in what is known as the 'resource curse'.
"Australian development assistance can assist developing countries grasp the opportunities afforded to them through mining.
"Australia is a world leader in using environmentally responsible mining practices, and one of the world's largest exporters of minerals and energy commodities.”
The full report can be found here