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India and Poland on Friday explored the collaborative opportunities in the mining sector in India and abroad for raw material security.
“I am confident that Poland will make use of the provision for 100 per cent foreign direct investment in Indian mining industry, and our PSUs will collaborate with their Polish counterparts for securing and optimizing raw material resources,” said the Union Minister of Steel and Mines Narendra Singh Tomar at a meeting with a Polish team.
Senior Polish delegates met with representatives of different States and heads of steel and mining PSUs. The meeting comes ahead of amendments in MMDR Act to simplify law related to mining and plan to ramp up steel production from the present level of 90 million tonnes (mt) to 300 mt by 2025.
According to Steel Secretary Rakesh Singh Indian miners were looking forward to technical collaboration in deep underground mining.
SAIL’s Chasnalla underground coking coalmine in Jharkhand employs technology from Poland. Polish State Minister of Economy, Jerry W Pietrewicz, expressed keenness of Polish firms in partnering Indian companies in modernizing mines.
The delegation also discussed the recent acquisition of coal mines in Mozambique by a joint venture of five Indian PSUs, International Coal Ventures Limited (ICVL).
Polish Minister mentioned that similar opportunities were being opened in Poland as some mines were scheduled to be put up for sale.
He also said that Poland was already in talks with Mozambique for mutual business opportunities, and that he looked forward to partnering ICVL there.
Vice Chairman of JSW S.A., the largest coal mining company in Poland Jerzy Borecki and other heads of Poland mining firms showed willingness to participate in the upcoming auction of coalmines in India.
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