ARCHIVED MEDIA RELEASE
PA/05/2006 1 February 2006
Australia-India Coal and Mining Forum to boost bilateral business links
The India-Australia Coal and Mining Forum, which opened today in New Delhi, promises to boost bilateral trade in energy and resources, as well as promote increased collaboration and investment in the sector.
Participants in the two-day forum include senior level government and corporate representatives working in energy and resources from India and Australia, including India’s Minister of State (Coal and Mines), Dr Dasari Narayan Rao, and Australia’s Parliamentary Secretary for Industry, Tourism and Resources, Mr Bob Baldwin MP.
“We hope that this Forum will further promote the development of this important relationship. From Australia’s perspective, we want to showcase Australia’s capacity to act as a reliable source of energy and mineral commodities to meet India’s growing demand,” said Mr Baldwin.
“Australia and India already have a Joint Working Group on Energy and Minerals and a Trade and Economic Framework has been proposed to further encourage cooperation in sectors such as resources and mining” added Mr Baldwin.
“Energy and resources are the drivers of the bilateral relationship,” said Mr John McCarthy, Australian High Commissioner to India. “Gold is Australia’s main export to India and we now supply 25% of India’s gold market; Australian coking coal is used in more than 50% of steel produced in India; and Indian companies have purchased two copper mines in Australia in the past year or so.”
“India's projected energy and resources requirements are enormous. India's mining sector contributes only a small percentage of GDP at present. It has great potential, but needs further investment. India is the world's sixth largest energy consumer and its energy needs are growing exponentially in both oil and gas, and coal imports are increasing," noted the High Commissioner.
The India-Australia Coal and Mining Forum is a joint initiative by the Indian and Australian governments. The Forum aims to enhance the collaborative relationship between Australia and India to stimulate increased information exchange and joint projects, provide an opportunity for industry to showcase expertise and capabilities and bring Australian and Indian industry, research institutions and governments together.
The Forum will focus on topics of shared interest including investment, regulation, sustainable mining, mining technology services and equipment, coal blending and washing facilities, clean coal technologies, coal mine methane, technical cooperation, skills development and education.
It will also provide members of the coal and mining industries an opportunity to showcase their expertise and capabilities, and explore bilateral investment opportunities.
Following the Forum, Australia and India have planned several events to encourage further collaboration including a technical seminar and site visits to Indian mines.
The India-Australia Coal and Mining Forum will be held on 1-2 February 2006 from 10:00am-6:00pm at Hotel Taj Mahal, Mansingh Road, New Delhi.
For further information, please contact Ms Victoria Walker, Counsellor (Economic), Australian High Commission, on 4139-9996 or Mr Michael Moignard, Senior Trade Commissioner, on 4139-9901.