Australian Mining Companies Obtain Great Profits in Africa
It is reported by Australian Financial Review that, in recent years, Australian Mining Companies has invested in lots of prophase exploration projects in Africa and obtained great profits.
Exxaro, a Steel Magnate in South Africa, plans to purchase 19.99% of an Australian mining company, Cape Lambert’s shares on Mayoko Iron ore Project in Africa. If this project goes smoothly, Cape Lambert will obtain 209% profits. However, recently this was not the biggest mining trade agreements. At present, two Chinese Company are also negotiating with Australian mining companies about the purchase of African projects. All of the above indicate that, although there are lots of disadvantages of investment in Africa, such as the political risk and weak infrastructure, the outside world’s demands for African resources still enlarge.
Now, more than 200 Australian mining companies has invested about AUD 20 billion in Africa and most of them are still eager for much more profits.
