and the potential for iron rich regions of Africa to undergo a
similar transformation. The obvious similarity is the presence
of large high quality resources, with Africa estimated to hold
more than 30% of the world’s iron ore. He also points to powerful
political drivers, firstly the improving stability and governance
of emerging African economies and a key force behind that
–
the role of China.
John Welborn’s view is crystal clear. “China is shaping
an economic transformation of Africa and is actively investing
billions of dollars. A decade or so ago, a newly appointed Chinese
premier visited Australia, signed bilateral trade agreements
with our government, and China subsequently became our
largest trading partner. Recently, new Chinese President
Xi Jinping made his first foreign visit to a number of countries
in Africa, including the Republic of Congo, where he signed
bilateral trade agreements.”
The correlation between the Pilbara and Africa is pinpointed
in the emerging iron rich northern Congo area where
Equatorial’s Badondo iron project is located amongst a cluster
of world-class, large-scale iron projects.
John Welborn believes the key to unlocking the potential
of this new Pilbara region of Africa is the cooperation of
mining companies operating in the area in the development of
infrastructure. “Similar to the Pilbara 50 years ago, the Congo
Craton region is abundant in high-grade iron but the challenge
here of course is infrastructure,” he said.
“
There is huge momentum building globally around the
emergence of Africa. Obama speaks that we are now in ‘The
African Century’. China is investing vast amounts of capital
into infrastructure. Africa’s time is coming and with Equatorial
we want to be at the forefront of this transformation.”
John Welborn walks the railway at Mayoko
which runs through Equatorial’s project
Local children in class at Mayoko Primary
School, newly refurbished by Equatorial
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