India, Australia discuss enhancing cooperation in mining sector

New Delhi, Feb 22 (UNI) India and Australia today discussed the possibilities of further enhancing cooperation in the mining sector, by encouraging mutual investment by Indian and Australian companies.

Union Mines Minister Sis Ram Ola and visiting Western Australian Premier Alan Carpenter at a meeting here reiterated the vast possibilities for projects in the untapped mineral sector in India and Australia, particularly in Western Australia.

Mr Ola said a highly conducive atmosphere had evolved between the two countries for greater investment following the MoU between India and Western Australia in this regard.

Inviting investments in both prospecting and mapping/surveys to establish mineral resources with the help of latest technology, the Minister said India held huge potential for prospecting minerals and an investor friendly policy was currently under consideration of the Government.

He underlined the keen desire of the Government to replace the 20 billion dollars worth of mineral imports by domestically prospecting for the same.

Responding, Mr Carpenter said there was a need to take forward cooperation and informed that Western Australia had vast areas with tremendous potential for finding minerals which Indian companies could take advantage of this as also the Australian companies could benefit from the possibilities in India.

He extended an invitation to Mr Ola to visit Australia.

Mr J P Singh, Secretary (Mines) also participated in the meeting along with 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.

UNI