Australia to encourage companies to participate in mines auction in India

Australia to encourage companies to participate in mines auction in India
Highlights

Australia has assured India on encouraging its mining companies including giants such as Rio Tinto and BHP Bilton to participate in the mines auction scheduled to commence in October-November. The topic was discussed in a meeting held yesterday between Steel and Mines Minister Narendra Singh Tomar and his Australian counterpart, Minister for Industry, Science and Resources Ian Macfarlane, an official statement said today.

Australia has assured India on encouraging its mining companies including giants such as Rio Tinto and BHP Bilton to participate in the mines auction scheduled to commence in October-November. The topic was discussed in a meeting held yesterday between Steel and Mines Minister Narendra Singh Tomar and his Australian counterpart, Minister for Industry, Science and Resources Ian Macfarlane, an official statement said today.


Tomar is leading a delegation of the Indian mining industry to Sydney for Asia Pacific Mining Exhibition (AIMEX) 2015, one of the world's largest mining event. Other members include Director General of Geological Survey of India, CMD NMDC, CMD MECL, and other senior officers from PSUs and Mines Ministry. "Through AIMEX, 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 in the statement.

The minister added that by year end, India will put up 82 blocks for auction, which includes minerals such as iron ore, gold and bauxite, among others. "We urge you (Macfarlane) to identify and encourage Australian companies to participate in these auctions," Tomar said.

Responding positively to Tomar's proposal for enhancing exploration capabilities in the hitherto under-explored India, Macfarlene assured him 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 also applauded the legislative reform carried out by the Indian government, the statement said. "The reforms are happy news for our manufacturing industry because India is their focus," the statement quoted 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 between Tomar with an Australian statesman during his visit to the island nation. Prior to this, he met Premier of New South Wales Mike Baird and Minister for Trade and Investment Andrew Robb.
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