A high-level delegation led by Steel Minister Beni Prasad Verma is on a five day visit to both the nations.
"The visit has been planned to boost cooperation in the areas of mining and coal supply," said an official statement here.
The delegation is set to discuss various areas of cooperation with Government of Australia and the State Government of Queensland, it said.
The statement added: "Verma will meet Simon Bridges, Minister of Energy & Resources, Government of New Zealand. The two leaders are expected to forge bilateral relations in areas of mining."
Verma is also scheduled to meet Minister of Industry and Resources, Government of Australia, Ian Macfarlane, Minister of Natural Resources & Mines, Government of Queensland, Andrew Cripps and Deputy Premier, Government of Queensland, Jeff Seeney.
The delegation comprises Chairman of SAIL, NMDC and ICVL C S Verma; Joint Secretary, Ministry of Steel S Abbasi; CMD, MOIL G P Kundergi; Director Technical NMDC, N K Nanda and CEO, ICVL, Ajay Mathur.