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English Release 1-September 2014
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Previous Date

 
Ministry of Steel04-December, 2012 20:43 IST
Australian Minister Calls upon Minister of Steel to Discuss Cooperation in Mining and ORE Exploration

The Union Minister of Steel, Shri Beni Prasad Verma met with the Minister for Resources, Energy and Tourism, Government of Australia, Mr. Martin Ferguson here today when the latter called upon the Steel Minister to discuss issues related to greater co-operation in mining and steel sector.

During the interaction, the Steel Minister said that Australia is a very important partner for India. He said that there is great deal of co-operation between Indian and Australian steel and mining companies and the relationship is beneficial for both the countries. He mentioned that Indian companies source 80% of coking coal used by Indian Steel Industry from Australia while Australia is dependent on India for trade in many sectors including steel and mining. Shri Verma stressed on Australian Government’s assistance in developing investment opportunities in the resource sector.

Speaking on the occasion, Mr. Ferguson assured help to Indian companies in areas of steel and mining. He also said that there is a need from India to facilitate policy measures to ease business between the two countries. Mr. Ferguson showed interest in the National Steel Policy and the growth, the country has achieved in the steel sector.

Shri C.S. Verma, Chairman Steel Authority of India Limited and NMDC said that SAIL is scouting for coking coal properties in Australia. He also mentioned that there is a need to facilitate development of port infrastructure and look into application of the force majeure clause in Australia.

Also present during the course of the interaction was the Secretary, Ministry of Steel Shri D.R.S. Chaudhary, and other senior officials from the Steel Ministry along with members of the Australian delegation.

****


NSK/DB
(Release ID :89936)

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