Action plans signed on Indo-Australian collaboration in mineral sector

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New Delhi, Nov 6 : Australian Minister for Resources, Energy and Tourism Martin Ferguson met Union Minister of Mines Sis Ram Ola here today.

Both the ministers exchanged views on cooperation between the two countries in the mineral sector.

Ola said that a new mineral policy had already been announced and the Government was now working on the necessary amendments required in the Act and Rules. With the new policy initiative, investment in mining and exploration in India would become highly attractive and the mineral concession regime will be transparent and investor friendly.

They also expressed satisfaction on the action plans signed between the two countries in the mineral sector as well as other resources and energy sectors like coal, power, petroleum and new and renewable energy. These action plans set concrete programmes to be undertaken by the two sides for further fostering mutual cooperation.

This Action Plan in Mining and Minerals will facilitate exchange of visits for promoting coordination between the officials, industry delegations, and scientific communities between both countries. It will facilitate cooperation between the public sector organizations of both countries in sustainable mining activities. It also provides for technical interchange between resource experts, geoscientists and mining professionals of the two countries.

Both the Ministers expressed the confidence that the two countries are poised for a strengthened and active relationship in the resources sector which will further boost trade and investment in the time to come.

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