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Australia seeks more mining alliances

Campbell Newman (left) in Calcutta on Tuesday. Picture by Kishor Roy Chowdhury

Calcutta, Dec. 4: Australia today sought closer ties with India in the mining business.

India can avail itself of the country’s expertise in mineral exploration, mine engineering and construction, mine development and ore processing, while Australia will benefit from investments.

Investments worth almost Rs 23 lakh crore have been made in mineral exploration and development in Australia on the back of huge demand for minerals in the Asia-Pacific region.

“We have a long-term stable mining policy in place. Mining comprises 50 per cent Australian exports. We export about 407 million tonnes of iron ore and 143 million tonnes of thermal coal. Our liquified natural gas exports is expected to increase 300 per cent to 260 million tonnes by 2016-17. There are opportunities in new greenfield development,” said Campbell Newman, the prime minister of the Australian state of Queensland, at the Australia-India mining business forum here today.

About 25 Australian companies will showcase technology and expertise at the 11th International Mining and Machinery Exhibition, starting tomorrow in the city.

Some of the Indian companies with operations in Australia include Adani, GVK Industries, Tata Group, Reliance Industries and Jindal Steel.

 
 
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