"WAMPEX is a highly versatile networking platform enabling all stakeholders and decision makers in the mining and power sectors across the ECOWAS countries to explore business and growth opportunities," says John Thomson of Exhibition Management Services, organisers of the event. Over 100 companies in the mining and power sector will showcase their products and services at WAMPEX, from industry-specific equipment, technology and services to consumables.
"India is extremely proud to be the partner country for WAMPEX 2014," says Victor Monteiro, marketing manager of the Confederation of Indian Industry (CII). The CII is a non-government, non-profit, industry-led and managed business association. Founded 118 years ago, CII has over 7,100 private and public sector members. "Its advisory and consultative role aims to create a sustainable environment for the development of India, partner industries, government and civil society. The WAMPEX partnership meshes very well with India's strategic growth and development plan," explains Monteiro.
"The Indian metals and mining industry is expected to more than double - from US$141.9bn in 2011 to US$305.5bn in 2015," continues Monteiro. "India's power sector is one of the most diversified in the world, using coal, lignite, natural gas, oil, hydroelectric and nuclear power, as well as wind and solar energy generation. India has the fifth largest electricity generation capacity globally."
A high-level delegation representing large Indian companies will be participating at WAMPEX, exploring investment and supply opportunities to related industries in West Africa. These companies include Elektrolites Power; Keromiyons Intech; Robot Components; Forech India; Kishore Vadilal; Involute Tooling Corp; New India Electricals and NIE Power & Engineering.
A key focus for India is iron ore, since West Africa has significant high-grade deposits of the mineral, and the region boasts low entry barriers and significant future revenue potential. West Africa is attracting increasing attention from international mining giants such as Rio Tinto and GlencoreXstrata. Research shows global demand for iron-ore will potentially double by 2030, and suppliers like Australia and Brazil are unlikely to meet this massive demand. West Africa, however, looks capable of filling this deficit, with 20 potential new iron ore mines in Liberia, Guinea, Sierra Leone and Mauritania, estimated to produce a combined output of up to 600 million tons a year.
"Mining the resources India needs for its economic development is pivotal to sustaining its remarkable rate of growth in the years ahead," comments Dilip Khanna, a partner at Ernst & Young, India. "The next level of growth for India will come from the African continent."
