Australia keen on developing gold mines in India

Australia today expressed interest in developing gold mines in India, as the two nations seek to strengthen bilateral cooperation in minerals and energy sectors.
"We have special interest in developing gold mines in India, considering Western Australia produces 150 tonnes of gold annually and India produces only 25 tonnes of gold despite geological similarity," said Premier of Western Australia Colin Barnett.
A high-level delegation headed by Barnett today discussed various issues with meeting with Minister of Mines and Steel Narendra Singh Tomar here.
Tomar said the MMDR Act amendment has simplified the process of doing mining in India.
"National Mineral Exploration Trust has been proposed considering the urgent need of enhancing exploration in the country. We seek cooperation from Australia in taking further the exploration work in India," he said.

Australia was looking forward to the operationalisation of changed rules in the mining sector, Barnett said.

Taking up the concerns of domestic steel makers, Tomar also urged Australian officials to help evolve faster coal loading facilities in Australian ports, an official release said.
Most of the coking coal used by Indian steel makers is imported from the mineral-rich island nation.
He also stressed upon the need to build a versatile rail and port network for faster and cheaper transportation of raw material in Australia, and thereby enhance the profitability of Indian companies which have established raw material linkages in Australia.

The talks also focused on inter-country cooperation in mineral sector and technology transfer, the release added.
The India-Australia Joint Working Group on Energy and Minerals was established in the year 2000 to enhance bilateral cooperation in the energy and mineral sectors.
"Today's meeting is an important step ahead in fulfilling the ambitions of this Working Group," the release added.