The Australian Equity Market as a Source of Capital for Pacific Basin Mineral Development (3a17e6c2-1c78-478d-b0d9-ca18b0e87246)

One of the major changes in the resource industry in the nineties has been the re-internationalisation of the industry. The history of the resource business has been one of companies from the developed world utilising the cash flows from their operations to explore and develop mines in less developed regions of the world. This resource development has progressively generated wealth and economic development, which in turn, has led to a new generation of exploration and mining projects. In South America, Chile had led the way in a mining resurgence, now closely followed by Argentina, Brazil, Venezuela and Peru. Although Chile has long had a significant copper mining industry, the pre-nationalisation phase was driven by American capital; the current phase has been spearheaded by R.T.Z. - B.H.P. at Escondida with Canadian junior companies, in particular, providing major speculative impetus. The Australian junior companies have not been significant in South America.