The Ifc is addition its role in sustainable development of mining in Asia and this year is focusing on South East Asia, particularly Papua New Guinea, the Philippines and Indonesia.
Ifc senior investment officer Karsten Fuelster, based in Jakarta, says each of these countries has essential mining prospects but they also face challenges such as developing regulatory frameworks and evolving public and environmental standards.
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Ifc is a member of the World Bank Group and its role is to finance hidden sector projects in developing countries. It acts as a partner to accomplish international standards in corporate governance and environmental and public practices. Its objective is poverty alleviation straight through hidden sector investments.
Karsten Fuelster says: "We are seeing at investment opportunities where our global environmental and public expertise can help mining companies implement projects in appealing environments and where we can act as a catalyst in raising task funding."
Ifc finances developed mining exploration as well as mine building and execution straight through a range of financial products ranging from equity, mezzanine, subordinated to senior debt. Ifc also invests in mining services, mine expansion and provides corporate funding. Increasingly, it is seeing to make equity investments in junior companies while the early stages of task development. In these cases, Ifc typically supports the completion of feasibility studies and assists in setting-up community development programs that help to gather a "social licence to operate" among local people.
As an example of the Ifc's focus on sustainable mining straight through early equity investments, Karsten Fuelster says: "We have recently invested in Far East vigor Corporation, a coal bed methane exploration task in China, promoting cleaner vigor technology in a country that seeks to yield vigor in ever cleaner ways."
A sustainable arrival to mining is no longer an altruistic endeavour - it is a company imperative. Ifc points out that mining companies are guests in remote impoverished areas, often for 20-40 years. To ensure long-term success, mining operations must be strategic, transparent and equipped with grand human resources to address the challenge of manufacture mining sustainable in the long-term.
Ifc has developed execution standards for corporations covering public and environment estimation and supervision systems. Effective local stakeholder supervision happens by produce and many problems are avoidable with good planning, beginning as early as while the exploration stage. Karsten Fuelster explains: "The earlier we engage with companies the more we can support their task development and assist in addressing environmental and public issues."
As of June 2006, Ifc's investment portfolio in all manufactures sectors in East Asia and the Pacific stood at Us53 million, with roughly Us00 million in China, Us6 million in Indonesia, Us7 million in the Philippines, Us in Thailand, and Us4 million in Vietnam.
"We are seeing selectively at investment opportunities throughout Asia and are currently talking to a whole of inherent clients. With Ifc's financial, technical, environmental and public in-house expertise, we offer an appealing value proposition to clients," Karsten Fuelster says.
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