Richard Sellers delivers keynote address at Mines and Money Asia 2016
|Date:||Thursday, 07 April 2016|
There's never been a better time to invest in Western Australia.
That's the message Department of Mines and Petroleum Director General Richard Sellers delivered this week to Asia's biggest mining investment conference and exhibition in Hong Kong.
Mr Sellers is leading a DMP team to Mines and Money Asia 2016 that includes Geological Survey of Western Australia Executive Director Dr Rick Rogerson and Mineral Promotion Manager Gaomai Trench.
The Director General said that Western Australia's recent stellar ranking in the Fraser Institute's 2015 Survey of Mining Companies would be a great help in promoting investment.
Western Australia is officially the world's most attractive mining investment destination, was ranked first in the Best Practices Mineral Potential Index, destination and finished in the top 10 across a number of other categories.
Mr Sellers, who presented a keynote address, told the audience that gold and nickel deposits in Western Australia had been proved up, gained permits and begun producing within four years of discovery.
"Where else in the world can you do this," he said.
Mr Sellers said that although times were tough in the resources sector at the moment, the global stock market downturn presented investment opportunities because sellers were keen, labour was cheaper and costs were being cut.
The Director General said that there were currently more than 120 significant mining and exploration projects in WA with Chinese investment.
"China is already investing in Western Australia's uranium exploration sector and four uranium deposits are at the pre-feasibility or feasibility stage," he said.
The DMP team's itinerary included a tour of China General Nuclear Power Group's Dayawan Nuclear Power Station in Guangdong Province, meetings with senior executives of CITIC Australia, GOGC Petroleum (China) Ltd, the China Minsheng Bank, and a visit to Sinosteel Corporation in Hong Kong.