The Ministry of Mines, Government of India and the Ministry of Land & Resources of the People's Republic of China signed here today a Memorandum of Understanding (MOU) for cooperation in the mining sector. The MOU is expected to establish a comprehensive framework to promote cooperation on research in the field of metallic and non-metallic minerals, formulation of mining regulation policies, technical assistance and training programmes and also undertaking joint ventures in other countries. Mines Minister Shri Sis Ram Ola signed the MOU on behalf of Government of India and Minister of Land & Resources, Mr. Sun Wensheng signed on behalf of the People's Republic of China. Shri Ola said that it has opened a new chapter in friendly relations and cooperation between the two countries. The MOU will herald new opportunities for investment in the mining sector benefiting both the countries.
The MOU will be the basis of mutually beneficial exchange of information on mining investment legislation, projects on mineral exploration and exploitation, trading of mineral products, service and technologies. The areas identified for cooperation include sustainable development of mining industry, mineral resources assessment, technology transfer, training programme on geological mapping, development of geological database, mineral economics and environmental aspects related to mining. These goals will be achieved by scholar exchanges, joint training programmes, formation of a workgroup for joint research, exchange of databank and digitized maps. The relevant organizations nominated by both sides shall sign agreements on technical assistance and collaboration to determine specific terms and conditions for implementation.
The Minister of State for Coal and Mines, Dr. Dasari Narayana Rao, the Secretary, Mines, Shri A.K.D. Yadhav and senior officials of the Ministry were present.
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DS/SB
(Release ID :12027)