India and Ontario Sign Mineral Accord
McGuinty Government Promotes Ontario’s Mineral Sector
A Memorandum of Understanding between the Government of Ontario and the Republic of India’s Ministry of Mines will help promote opportunities for mineral development and investment between the two jurisdictions.
The agreement considers ways the two jurisdictions can work together on a broad range of mineral sector activities of mutual interest. They include geoscience development, mineral exploration, mine development, mines rehabilitation, health and safety, and value-added processing.
The agreement was signed during a visit led by the Honourable B. K. Handique, Indian Minister of Mines. The Indian mission is visiting Ontario and Quebec over the next few days to seek areas of cooperation and collaboration to help foster growth within Ontario’s and India’s respective mineral development sectors.
QUOTES
“This agreement provides a solid framework for Ontario and India to strengthen existing business relationships and develop new relationships in a number of areas in the mining sector. Our Open Ontario Plan is creating a climate where businesses like those in our mining sector can continue to thrive, create jobs and build innovative new services and products for the world markets like India’s.”
— Michael Gravelle, Minister of Northern Development, Mines and Forestry
“We are looking for advance technology in terms of mining equipment and related value chain including machinery, information technology in mining, mining communication and mineral beneficiation and processing. We are interested in introducing of advanced technology in geophysical survey and exploration. We also seek assistance in exploration and mining of high value, deep seated minerals like gold, nickel and platinum group elements in India.”
— Honourable B. K. Handique, Indian Minister of Mines.
QUICK FACTS
- Ontario is Canada’s largest producer of non-fuel minerals accounting for an approximate value of about $6.3 billion in 2009.
- India’s economy is the fourth largest in the world.
- Current trade between Ontario and India is valued at about $1.7 billion.
LEARN MORE
- Find out how MNDMF supports mineral development
- Learn about Ontario’s cluster of mineral related industries and organization
