By Rakhi MazumdarRakhi Mazumdar, ET Bureau
KOLKATA: South Australia, home of the some of world's richest mineral deposits, is keen to invite Indian partners to develop joint mining projects. Billed as the 'El Dorado of the future', the Australian state home to the world's biggest copper gold and uranium mines, wants more and more Indian companies to invest in the state.
"We have had a number of Chinese companies including, the likes of Sinosteel. In the last few year, more and more Indians companies are looking at sourcing deals with our mines. This has led to a 62% jump in mineral exports from south Australia. We also want joint venture partners and investors from India to develop mining projects in South Australia," Mike Rann premier of South Australia said.
He was speaking at an event organised by the Confederation of Indian Industries on Tuesday.
Apart from 30 new mines expected to come up in the next one year, Olympic Dam, is one of Australia's significant new copper-gold mines. Being developed at an investment of US $ 1.4 trillion , it will also have the largest uranium mine globally.
In addition, the state which built up a reputation as a leading manufacturing base for defence industry, has also received nod from federal government of Australia to make use of the Woomera defence area which was so far prohibited for mining. South Australia also offers opportunities in exploration of iron ore, nickel and heavy mineral sands in downstream processing, refining.
"We have taken a conscious decision to encourage mining and hence decided to create a climate of certainty for long term investors in the mining sector. In step, we invested $30 million in Plan for Accelerating Exploration (PACE) focused on new technology for mineral and energy exploration and development of best practices in mine assessments," the premier added. "For smaller foreign mining companies including those from India who are interested to take part in developing South Australia's resources, we want to serve as honest brokers and try to match their interests with similar sized local companies with exploratory licenses who are also looking for partners, Mr Rann said.
In addition to mining, renewable energy, bio technology, education and manufacturing are other sectors, where South Australia is also inviting prospective Indian investment.
"We have had a number of Chinese companies including, the likes of Sinosteel. In the last few year, more and more Indians companies are looking at sourcing deals with our mines. This has led to a 62% jump in mineral exports from south Australia. We also want joint venture partners and investors from India to develop mining projects in South Australia," Mike Rann premier of South Australia said.
He was speaking at an event organised by the Confederation of Indian Industries on Tuesday.
Apart from 30 new mines expected to come up in the next one year, Olympic Dam, is one of Australia's significant new copper-gold mines. Being developed at an investment of US $ 1.4 trillion , it will also have the largest uranium mine globally.
In addition, the state which built up a reputation as a leading manufacturing base for defence industry, has also received nod from federal government of Australia to make use of the Woomera defence area which was so far prohibited for mining. South Australia also offers opportunities in exploration of iron ore, nickel and heavy mineral sands in downstream processing, refining.
"We have taken a conscious decision to encourage mining and hence decided to create a climate of certainty for long term investors in the mining sector. In step, we invested $30 million in Plan for Accelerating Exploration (PACE) focused on new technology for mineral and energy exploration and development of best practices in mine assessments," the premier added. "For smaller foreign mining companies including those from India who are interested to take part in developing South Australia's resources, we want to serve as honest brokers and try to match their interests with similar sized local companies with exploratory licenses who are also looking for partners, Mr Rann said.
In addition to mining, renewable energy, bio technology, education and manufacturing are other sectors, where South Australia is also inviting prospective Indian investment.
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