Mining is a global industry. The conference is a good example of this, as it's jointly organised by professional associations from Canada, Australia and South Africa, and has attracted speakers and delegates from around the world. I commend the organisers for their initiative. I am pleased to be asked to participate in this panel - although I would hasten to add I see myself as perhaps an informed observer rather than an expert._x000D_
It won't be news to most in this room that Australia's mining sector is booming. As one of the most productive and diversified mineral regions in the world, this activity is also something that has not escaped the attention of Canada's largest mining companies! This means that I follow what is happening in the industry and more specifically what might be occurring here._x000D_
Two-way investment between Canada and Australia stood at $9.8 billion in 2005 with Canada as the seventh largest overall investor in Australia with $8.22 billion in investments. The majority of this investment is by Canadian minerals and metals companies. In recognition of the importance of Canadian investment in this sector in Australia, I maintain close contact with our companies. By way of example, in the past two months I spent a week in Western Australia visiting Perth and meeting with companies for example, like Teck Cominco and LionOre as well as seeing various Barrick Gold operations in Kalgoorlie. I attended the opening of Alcan's new Asia Pacific Headquarters in Brisbane in August and just two weeks ago was in Cowal, NSW for the opening of Barrick's new mine there._x000D_
Having met with BHP Billiton in Vancouver, I'm equally aware of active Australian mining interests in Canada._x000D_
This is not designed to indicate how active I am but rather to demonstrate the dynamism in the mining industry and the diversity of Canadian mining interests in this country and Australian interests in Canada.