Miners in Australia are flocking to Latin American countries in droves, prompted by the allure of a market that has been relatively untouched by junior miners.
According to the Australian Associated Press, mining giants BHP Billiton and Rio Tinto have had operations in Latin America for decades, but the presence of junior miners has remained low. However, as more cross the ocean to perform new exploration studies, the region’s mining sector could see major benefits, such as higher mine services activity.
“They call it the silent industry, because this activity has been going on for some time now, but it’s more a perception issue – people haven’t seen it, haven’t felt it, haven’t heard it,” said David Landers, Austrade Growth and Emerging Markets general manager. “I expect that the primary driver will be the juniors – once they get in there and prove things up, that’s when the non-Latin American majors will get even more active.”
According to Mining Weekly, Australia’s Foreign Affairs Minister Bob Carr says he hopes to build a stronger relationship with the region in order further increase Australia’s presence in Latin America.
At the recent Latin America Down Under conference, Carr said that although both Australia and South America have established mining sectors, each could learn more from each other. Carr added that in the last two decades, the presence of Australian miners has grown to 80 active companies.
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