Mauritius will play host to the first Mines and Money conference to bring the spotlight on Africa, and help raise capital for African mining projects.
The inaugural Mines and Money Access Africa event will be held from 23-25 June, 2014 at The Intercontinental hotel in Balaclava and will be co-hosted by the Board of Investment (BOI), Mauritius.
The forum, dedicated to investment and capital raising for African mining projects, is designed to be the only event that links mining companies with Chinese and international investors in exclusive private meetings.
Held in Mauritius, the bridge for investment from Asia into Africa, this forum provides investors with the chance to take advantage of Mauritius’ investment protection and tax treaties while meeting with Asian investors and mining companies in a neutral location.
Incidentally, Finance Minister Xavier-Luc Duval; Sunil Benimadhu, CEO, Stock Exchange of Mauritius; James Benoit, CEO, AfrAsia Bank; Richard Arlove, CEO, Abax Mauritius; and Ben Lim, CEO, Intercontinental Trust, Mauritius, are confirmed speakers for the event from Mauritius.
Africa represents the top 6 fastest growing economies in 2014, with sub-Saharan Africa achieving a GDP growth rate of 6%. Africa also boasts the most attractive risk/reward ratios of any region in the world.
With $21.23 billion of foreign direct investment from 2005-2012 by China and a recent commitment to invest $2 billion by Japan in mining and energy projects, Asia’s interest in Africa is certainly not understated. This is all positive news for the mining sector, particularly as an IMF study in 2011 found 29% of all of China’s FDI was in the mining sector.
However, investment into Africa is risky. Even though Chinese FDI into Africa doubled between 2009 and 2012 there are many concerns on the minds of investors from resource nationalism to tenure security. This is why Mauritius, which has 19 investor protection treaties and 17 double taxation avoidance agreements in place with Sub-Saharan African governments, provides an ideal location to base the inaugural Mines and Money Access Africa conference and exhibition.
Mines and Money Access Africa is set against the backdrop of these treaties and mechanisms. As a centre for investment flows between Asia and Africa, the event will provide a true opportunity to meet with Asian investors, with a specific focus on Africa.
“When Chinese firms consider investment destinations around the world, Africa is always top of mind,” says Dr George Fang, Head of Mining and Metals in Asia, Standard Bank (Beijing).
Accordingly, some of China’s largest state-owned enterprises (SOEs) and active buyers of natural resource projects will attend Mines and Money Access Africa 2014.
China Africa Development Fund, China Guangdong Nuclear Power Group, China Investment Corporation, China Jinchuan Investment Holdongs Co. Ltd, China Mining United Fund, China Nonferrous Metals Co. Ltd., China Railways Materials Co. Ltd, Chinalco Resources Corporation, CNNC International Ltd, CPI International Mineral and Investment Co. Ltd and Shenhua Overseas Development and Investment Co. Ltd are some Chinese SOEs which have already confirmed participation.
Besides, India’s ESSAR Steel Ltd and JSW Steel Ltd will also participate in the forum.
Thus,at this event, African mining developers have the opportunity to meet with Chinese SOEs and Indian private firms to promote new projects and raise funding, while investors get the chance to speak directly to senior mining executives to assess and compare an extensive range of investment opportunities Africa has to offer.
Mines and Money is the leading international event series for capital-raising and mining investment, where investors and developers come together to network, hear market analysis, compare investment options and share knowledge. It is held globally across London, Hong Kong, Beijing and Australia.
Image (Mines and Money): This forum provides investors with the chance to take advantage of Mauritius’ investment protection and tax treaties while meeting with Asian investors and mining companies in a neutral location.
More business news on AfricaMoney