India, Canada to cooperate in mining & steel sector

New Delhi, Jan 14 (KNN)  In an effort to foster cooperation between India and Canada in the mining and steel sector, Union Minister of Steel, Beni Prasad Verma has signed a deal with Canadian Minister of Natural Resources, Joe Oliver. 

“…Verma held discussions with the Canadian minister which aimed at expanding and strengthening bilateral relations between the two countries and also identifying areas of cooperation and assistance where India could be benefitted from Canada, endowed with a huge wealth of natural resources especially coking coal,” said an official release.

A Letter of Intent (LoI) was signed between the two countries to further supplement the dialogue of co-operation in the iron and steel sector.

“Through the LoI, both countries plan to develop and expand mutual co-operation, inter-alia, through information exchanges in areas of mutual interest including iron-ore, coking coal and other steel making raw materials and encourage bilateral investment opportunities in iron and steel related business,” it said.

The agreement would ensure raw material security and forge alliances with global entities for tapping new market.

“They exchanged their views on prospects and growth of the iron and steel industry, as well as investment opportunities in raw materials, including pelletization plants and other associated industries in both the countries,” it said.