Africa's mining industry can look forward to a decade of possibility, according to Cynthia Carroll.

The Chief Executive Officer of Anglo American said that commodity hungry China and India would provide the mining industry with prosperity as "Africa's time has come".

Speaking at the Mining Indaba conference, she said there would be "troughs and peaks" for the mining industry and demand would strengthen growth.

"Never before in history have so many people been lifted out of poverty.

"The mining sector will and must play a more important role in alleviating poverty," she said.

Ms Carroll said that Anglo American would make decisions on investment in Africa based on energy stability and pricing, water availability, well-maintained infrastructure, skilled workers and supportive Government.

But she recognised that mining companies were investing in partnerships and said: "We too have responsibilities to contribute to countries and the people."

Speaking about Anglo American's future, Ms Carroll indicated that it would focus on Africa saying it was an "unparalleled land for mineral extraction".

According to Mining Weekly 88 per cent of platinum resources were in Africa.

Sources:

Anglo sees a 'decade of possibilities' in Africa, 05/02/08
http://www.miningweekly.co.za/article.php?a_id=126087

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