India and Australia discuss enhancing cooperation in mining sector

India and Australia today discussed the possibilities of further enhancing cooperation in the mining sector. At a meeting between the Minister of Mines Shri Sis Ram Ola and the visiting Premier of Western Australia Mr. Alan Carpenter here today , the two sides felt the need to encourage mutual investment by the companies from India and Australia. The two leaders reiterated the vast possibilities for projects in untapped mineral sector in India and Australia - particularly Western Australia.

Referring to the MOU between India and Western Australia in this regard, Shri Ola said that a highly conducive atmosphere has evolved between two countries for greater investment. He also pointed out that India has huge potential for prospecting minerals and an investor friendly policy is currently under consideration of the Government. Shri Ola invited investments in both prospecting and mapping/surveys to establish mineral resources with the help of latest technology. He underlined the keen desire of the Government to replace the $ 20 billion worth of mineral imports by domestically prospecting for the same.

Mr. Carpenter also felt the need for taking forward cooperation and informed that Western Australia has vast areas with tremendous potential for finding minerals. The Indian companies could take advantage of this as also the Australian companies could benefit from the possibilities in India. He invited Shri Ola to visit Australia. Shri J.P. Singh, Secretary (Mines) also participated in the meeting alongwith senior officers of Ministry of Mines and Ministry of Coal. Mr. Carpenter was accompanied by a high level delegation including the Australian High Commissioner to India.

Source : Press Information Bureau

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