Mining Industry : Mauritius geared for explorations
Press Release
Date: April 11, 2019
Dipna Gunnoo, Head of the MCCI Arbitration & Mediation Center (MARC), Jason Harel, Co-Founding Partner of the BLC Robert & Associates, Sunil Benimadhu, Chief Executive of the Stock Exchange Mauritius, Graeme Robertson, Chairman of the Mining and Energy Club, Kareena Neisius, Board Director of the Mining and Energy Club, Robin Smither, Senior Executive Corporate Banking at Afrasia Bank Limited and Kym Fullgrabe, Senior Trade Commissioner, Africa from Australia Trade and Investment Commission.
The Mining and Energy Club (Mauritius) organised a seminar on Thursday 11th April on the African Mining network and its potential for Mauritius. The panel discussion consisting of six speakers elaborated on the vast opportunities for the development and implementation of the mining industry in Mauritius.
‘Mining, The Giant of Africa’ was the theme of the seminar which was held on Thursday at the Labourdonnais Hotel. An initiative of the Mining and Energy Club (Mauritius), the seminar provided an overview of the African Mining network. The panel discussion consisting of six key speakers namely Graeme Robertson, Chairman of the Mining and Energy Club, Robin Smither, Senior Executive Corporate Banking at Afrasia Bank Limited, Jason Harel, Co-Founding Partner of the BLC Robert & Associates, Sunil Benimadhu, Chief Executive of the Stock Exchange Mauritius, Dipna Gunnoo, Head of the MCCI Arbitration & Mediation Center (MARC) and Kym Fullgrabe, Senior Trade Commissioner, Africa from Australia Trade and Investment Commission, elaborated on the opportunities as well as challenges that lie ahead for the introduction of this promising industry in Mauritius.
Graeme Robertson, Chairman of the Mining and Energy Club (Mauritius) (MEC), which was established in November last year through a joint venture with the Singapore Mining Club (SMC), stated that mining is not simply a hole in the ground. “It is in fact a whole range of activities whether it is cement, building, and different materials. All come from the mining energy. Mauritius is so important for the mining industry but no one here really understands much about mining. The reason why the African mining is important for Mauritius is because of education. We have education courses in Mauritius inviting African governments to send their engineers or administrative personnel to study here. It is a very large business.”
POLICY DISSEMINATION
He underlined that the club has been talking to the Colorado School of Mines to bringing in the facilities in Mauritius which will then invite African governments in Mauritius to upgrade their school sets in relation to policy making. Graeme Robertson also highlighted that another important aspect in Mauritius is the policy dissemination. “Mauritius is in a unique position because it has no mines and because it is part of Africa. Every country in Africa has mines except Mauritius. So therefore the island is a new territory.” He added that Mauritius also has a fantastic position for arbitration for Africa and also the fact that there are very few stock exchange mining companies in Mauritius. He trusts that the whole Mauritian economy will benefit from mining industry.
Kym Fullgrabe, Senior Trade Commissioner, Africa from Australia Trade and Investment Commission, stated that mining companies have big foot prints in Africa. He underlined that there are huge changes taking place in the mining industry with the introduction of Artificial Intelligence and use of robotics and he trusts that there exist opportunities for everyone in the implementation of mining in Mauritius. He, however, stated that the major challenges include the fly in and fly out cost to come to Mauritius. “The Mauritian brand is a great one but is mostly about honeymoon and tourism. Australia also had that for a long time. I believe that some works need to be done regarding the Mauritian tourism in order to promote the island not only as a getaway destination,” he stated, but as a land of opportunities.
PROPER STRATEGIES
On his side Sunil Benimadhu, Chief Executive of the Stock Exchange Mauritius stated that Mauritius has a strategic position for the introduction of the mining industry. He, however, uttered that it is important to have the proper strategies. “We are at the early stages of the inception but challenges lie in our ability to find the solution… We need the proper eco-system to get there and a lot need to be done in terms of building these eco-systems.” He explained that mining companies can list on the Mauritian Stock Exchange but they need to be fully operational and that all regulatory frameworks are present in Mauritius for the investment of mining companies. He added that the time is right for Mauritius to have a targeted campaign to attract African talents in Mauritius.
Jason Harel, Co-Founding Partner of the BLC Robert & Associates underlined that mining risks are high on legal regulatory issues, infrastructures, political insecurities, among others, but he trusts that Mauritius can provide solutions to these matters. He trusts that connectivity and knowledge on mining are issues that Mauritius can fix. Dipna Gunnoo, Head of the MCCI Arbitration & Mediation Center (MARC), on her part, emphasised on how Mauritius is an excellent arbitration hub in Africa. “The judicial system is strong. We have the legal expertise and good arbitration practitioners. We are a politically stable country and promote democracy and good governance… Mining industry leads to so many disputes. We need to manage the risks and mitigate them,” she said. She gave several examples of how Mauritius acts as an excellent arbitration platform.
