WA mining supply companies exploring giant Latin American mining market

9/5/98

Western Australian mining supply companies are gearing up for a major thrust into the giant Latin American mining market.

Twenty-five local companies are leaving Perth to attend the world mining expo for Latin America, Expomin 98, in Chile from May 12-16. The visit is being co-ordinated by the Department of Commerce and Trade and Austrade.

Commerce and Trade Minister Hendy Cowan said Latin America was the world's biggest producer of copper and a significant producer of minerals ranging from gold and silver to iron ore and zinc.

With a portfolio of current and future mining projects valued at US$25 billion, it is potentially a huge market for the supply of mining equipment and services.

The 25 WA companies attending Expomin this year compare with 13 participants in 1996. Some already had established links into Chile but many were new or relatively new players.

Mr Cowan said the Asian economic downturn had underlined the need for all WA exporters to broaden their base, and the State Government was targeting its assistance programs to support companies willing to investigate new markets. Businesses participating in trade expos were key recipients.

He said Expomin was expected to attract more than 2,200 participants from around the world, primarily key decision-makers.

A number of the WA companies would display equipment and geo-technical services ranging from drilling rigs and materials' handling systems to mining software and chemicals in an Australian national pavilion at the expo.

The WA Government would also have a trade promotion and investment booth highlighting the potential for international companies to set up regional headquarters in Perth to service Asian and Australian markets.

Mr Cowan said that coinciding with Expomin, the Western Australia-Latin America Business Association had organised a five-company trade mission to visit Chile and Argentina.

In addition, the Department of Commerce and Trade and four WA companies would be represented on a 10-member mining mission travelling to Peru after the expo. Peru is South America's largest gold producer and second largest copper producer.