Thaindian News

By Gurmukh Singh
Toronto, July 2 (IANS) Close on the heels of India and Canada signing a memorandum of understanding (MoU) in mining last week, India’s mines minister Bijoy Krishna Handique will visit Canada next week to invite leading mining companies to India. Canada is home to the largest number of mining companies in the world.

During his visit from July 8 to 13, Handique will hold talks with his Canadian counterpart and mining industry leaders eying the Indian market.

The minister, who will be accompanied by a big delegation, will sign a memorandum of understanding with Ontario province which is home to a large number of nickel, gold and diamond mines.

At a meeting organised by the Canada-India Business Council for his interaction with leading Canadian companies July 9, the Indian minister will invite them to India as the country unveils its new mining policy shortly.

Handique will also visit the major mining centres of Sudbury and Thunderbay in Ontario province to get a first-hand knowledge of Canada’s technical knowhow in the sector.

Later, he will visit Montreal where he is likely to sign an MoU with the government of Quebec province which has a large number of gold, zinc and copper mines.

Currently, only about a dozen Canadian mining companies operate in India, selling equipment and offering technical knowhow.

“But with the signing of the MoU by the two prime ministers Sunday, big Canadian players are now only waiting for the new mining policy by India. There will be a rush to India once the policy is unveiled,” Hemant Shah, director of sales for mining equipment maker Cubex Ltd, told IANS.

Officials from the Geological Survey of India, the Indian Bureau of Mines, Mineral Exploration Corporation Ltd and National Aluminum Company Ltd will accompany the Indian minister.

(Gurmukh Singh can be contacted at gurmukh.s@ians.in)