Webinar on investment opportunities in Cuba in the oil and mining sectors was held in Australia

Canberra, February 25, 2021.- Today, a Webinar on business and investment opportunities in mining and oil in Cuba was held with the participation of Australian companies, Cuban executives from the Ministry of Energy and Mines (MINEM ), Unión Cuba-Petróleo (CUPET), Geominero-Salinero (GEOMINSAL) and Cubaníquel, as well as the respective ambassadors of Cuba and Australia.

On the Australian side, Remo Moretta, Australian Ambassador to Mexico and Cuba; Kim Prior, Director of Prior Industries; Garry Pinders, Executive Director of ISG Solutions and Andrew Purcell, CEO of Melbana Energy Limited addressed the seminar.

The event discussed the existing possibilities to continue deepening joint businesses in both sectors given the mutual interest and the will to move forward. This was especially demonstrated in 2020 when despite the scourge of the pandemic of COVID-19, the creation of two Joint Ventures and an International Economic Association was possible in the area of ​​mining for the exploration and potential exploitation of gold, copper and nickel deposits in Cuba with Australian investment capital.

A similar interest was seen in the oil sector, where two Australian companies reached new agreements in 2020 to continue and expand their oil extraction and prospecting businesses in our country.

During the closure remarks, the Cuban ambassador to Australia, Ariel Lorenzo Rodríguez, detailed the advantages that Cuba offers as an investment place. He also mentioned the huge efforts made by both countries to materialize the potentialities of cooperation and business in different spheres, mainly in the sectors of mining, energy, oil and biotechnology.

Likewise, he stressed that despite the impact of the Covid-19 pandemic and the negative effects derived from the economic, commercial and financial blockade of the United States, our country is advancing sovereignly and with determination in the process of updating its economic and social development model.


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