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REGIONAL ROUNDUP

Africa unlocked

by Mark Andrews

In late June, GMJ and Paydirt hosted Paydirt Unlocked, the first traditional networking lunch in the
mining space since lockdown measures were implemented in Australia in March. Such was the
enthusiasm, the event sold out in just a few days, showing the eagerness of the resources sector
to get back out and connect.

Perseus Mining Ltd managing director Jeff Quartermaine, Sandfire Resources Ltd managing
director Karl Simich and Resolute Mining Ltd managing director John Welborn were chosen by
Paydirt and GMJ editor Dominic Piper to share their thoughts on what its like to operate in Africa.

With restrictions in Western Australia loosened, the next Paydirt
Unlocked event will be open for more people to attend

urisdictional risk is one factor weighed up by investors when as a benchmark and [try to] achieve it.”
Jmaking a call where to put their money. Welborn used the example of Randgold’s success in creating
Companies operating in Africa are believed to be marked value from mining gold in places such as DRC and Mali during
harder in the market, as historical legacies of political turmoil periods of political upheaval that were more challenging than
and unrest in some parts keep investors cautious; a sentiment current day situations.
Resolute managing director John Welborn disagrees with. “They did that by operating responsibly and returning to host
“I don’t believe there is any jurisdictional discount,” he said. governments and host communities, so I don’t think there was
“Capital is mobile, minerals are defined; if there is a discount an African discount. There might be a lack of understanding but
I think it is because we have been outperformed by other operational performance and returns to all stakeholders is what
companies and I think the Australian gold mining scene has matters,” Welborn said.
incredibly successful principles and smart management teams “We see nothing but opportunity in Africa and operational
doing really great work. The challenge for any operator whether performance, operating responsibly and sustainably to provide
in Australia, Nevada, Ghana, Cote d’Ivoire or Mali, is to see that returns to all stakeholders in our business, is the key to

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