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Australian
Firms Keen on
Investing
in Mineral Exploration
in India
A number of Australian
mining companies
are interested
in investing in
mineral exploration
in India, Australian
Minister for Resources,
Energy and Tourism
Martin Ferguson
said in Kolkata
ahead of a Global
Mining Summit
being held in
the city.
”India has
huge resources
of mining and
most of them are
still untapped.
We're keen to
go for partnership
with Indian companies
and would also
like to invest
directly in the
minerals and resources
sector,”
he told reporters.
Ferguson said
many Australian
companies are
now trying to
maximise the resource
development with
their Indian counterparts,
using advanced
technologies and
their expertise.
According to Tracey
Winters, secretary
to Ferguson, the
minister had a
scheduled meeting
with West Bengal
Chief Minister
Buddhadeb Bhattacharjee
on enhancing economic
cooperation between
the countries.
“The minister
(Ferguson) will
share views about
the investment
opportunities
of Australian
companies in this
part of India
- especially in
the mining exploration
sector. The minister
would also welcome
a number of Indian
companies to participate
in the similar
economic activities
in Australia too,”
she said.
Winters said Australia
is open to foreign
investment in
the coking coal
sector. She said:
“Already
a few Indian investors,
including Gujrat
NRE Coke and the
Aditya Birla Group,
have invested
in Australia and
several others
are now evaluating
the opportunities.”
The Aditya Birla
Group has acquired
a copper mine
in Australia,
Queensland's Mt
Gordon Copper
Mine, for a gross
consideration
of $21 million.
Australia is participating
as the Focus Country
in the 9th International
Mining and Machinery
Exhibition (IMME)
2008, to be held
here Nov 5-8.
A delegation of
50 Australian
companies will
participate in
the trade show.
The event will
showcase Australia's
global leadership
positioning in
mining technology
and services.
According to a
rough estimate,
over 60 percent
of the world's
mines operate
with Australia-designed
mining software
and mine management
system.
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