India, Australia to ink agreement in mining sector

New Delhi, Aug 31 (IANS) India and Australia are likely to sign a bilateral agreement to prepare a roadmap for using latest technologies in exploration during the four-day visit of union Steel and Mines minister Narendra Singh Tomar to Australia beginning Tuesday.

The agreement would be signed between Geological Survey of India and Geoscience Australia, an official statement said.

Tomar will lead a delegation on the invitation of australia’s minister of trade and investment and the australian high commissioner in New Delhi, to participate in Asia Pacific’s International Mining Exhibition (AIMEX-2015) in Sydney.

To foster bilateral cooperation, Tomar is expected to hold bilateral meetings with New South Wales premier Mike Baird, Australian Trade and Investment Minister Andrew Robb, Australian Industry and Science Minister Ian Macfarlane, and Western Australia premier Colin Barnett.

He would also meet with global leaders in mining sector such as BHP and Rio Tinto, and encourage them to invest in India, especially in the segment of transfer of technology.

During the visit, the union minister would release e-book on exploration, providing full information to mining juniors and other stakeholders on investment opportunities available in India.

He would visit mines in Western Australia during September 3-4 before flying back to New Delhi from Perth, the statement added.

“The visit would enable to have interaction at the ministerial level between the two countries for cooperation in the development of mining sector for mutual benefit.

“The participation of Indian side would provide an opportunity to explore investment opportunities, interaction with mining companies on the possibilities of joint ventures which would help in exploring business opportunities besides highlighting the capabilities of the Indian mining sector,” it said.

Australia is one of the world’s leading mineral producing countries.

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