India seeks investment from Australia in mining sector

Source: PIB, Government of India

Taking the Indo-Australian relationship to yet another height on Thursday, Minister of Mines & Steel Narendra Singh Tomar met his Australian counterpart, Minister for Industry, Science and Resources Ian Macfarlane on Wednesday. Tomar is heading a delegation of Indian mining industry to Sydney for participation in one of the world’s largest mining event, Asia Pacific Mining Exhibition (AIMEX) 2015. Appreciating the enthusiasm shared by both countries in exploring each-other’s strengths and hidden potential, Tomar sought active participation of Australian mining industry in taking the Indian mineral sector to new heights. “Through AIMEX 2015, we want to showcase the mineral richness of India before a global audience. Further, we want to harness Australia’s leadership in mining technology and exploration ability to strengthen mining in India,” Tomar said. “By the end of this year, we will be putting up 82 blocks for auction, which includes minerals like iron ore, gold, bauxite etc. We urge you to identify and encourage Australian companies to participate in these auctions,” the Minister added. Responding positively to Tomar’s proposal to enhance exploration capabilities in the hitherto under-explored India, Macfarlene assured Shri Tomar that all support will be extended to Indian exploration and mining by both Geo Science Australia and Commonwealth Scientific and Industrial Research Organisation (CSIRO) Australia. Macfarlene assured Tomar that he will encourage Australian companies to participate in the upcoming mineral auctions in India. He applauded the legislative reform carried out by the Indian government, agreeing that changes of such scale were indeed more than reform, akin to revolution. “The reforms are happy news for our manufacturing industry because India is their focus,” said Mr Macfarlene. Expressing confidence in the Indian democracy and judiciary, the Industry Minister said that even the Australian private industry would look forward to collaborate with India. This is the third meeting of Tomar with an Australian statesman in his visit to Australia. Prior to this, Tomar met Premier of New South Wales Mike Baird and Minister for Trade and Investment Andrew Robb. The Indian delegation includes Director General of Geological Survey of India, CMD NMDC, CMD MECL, CMD MOIL, CMD HCL and other senior officers of the Ministry of Mines.    

September 03, 2015 | 4:02pm IST.