Technically it is a mining event, but if you were among the crowd at the opening of IMARC today, you might well have wondered whether it was a diplomatic gathering.
Thirty ministers from Governments around the world are here, networking for investment and trade deals. They included representatives from Ecuador (a new darling of the mining community) and an impressively-resourced Saudi team.
All were slated to hear Victoria’s Treasurer and newly-appointed Minister for Resources, the Hon. Tim Pallas, deliver the official welcome.
IMARC – the International Mining and Resources Conference – was created to enhance Melbourne’s reputation as a regional mining hub. Melbourne is headquarters for firms representing around 75 per cent (by market capitalisation) of the Australian mining industry. It is also the point from which billions of dollars is directed each year to projects around the world.
And, as Victorian Government representatives were quick to point out, there is massive flow-on activity in terms of finance, research, engineering, training services and equipment. By many counts mining (barely visible to much of the population) is Victoria’s biggest money spinner.
If that was the message to be spread, it was reaching the ears of several hundred of the world’s most senior mining executives today. Small wonder that IMARC is now considered the “Fourth Major” of world mining and resource gatherings.
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