New Delhi, Jan 23 (IANS): India's mining industry, which is set to reach $36 billion by 2016, is gearing up to host a mega conference - the 5th International Mining, Exploration, Mineral Processing Technology, Metals & Machinery Exhibition - Feb 13-16 at the Salt Lake Stadium Ground in Kolkata.
It is organised by the Mining, Geological & Metallurgical Institute of India. The conference will have over 300 exhibitors, 600 delegates, with the participation of over 30 countries.
There will also be a high-level Polish trade delegation and group participation with 20 companies, and the Czech Republic national pavilion with 10 companies.
"One of the bright spots in the mining industry scenario is the fact that an increasing number of Indian companies are venturing overseas to secure stable, long-term supplies of minerals like coal and iron ore," T.K. Lahiry, chairman-cum-managing director of Bharat Coking Coal, said here Thursday.
"The large-scale conference will have the participation of leading mining equipment and machinery manufacturers from Asia, Africa, America and Europe. It will be the ideal platform for displaying and launching new initiatives in the mining sector, as well as showcasing products and technologies, establishing JVs, developing and renewing international and regional contacts," he said.
India has raced ahead in the mining industry to reach a place among the top five global producers, and has reached ahead of South Korea and Germany, once leaders in this field. The country hosts a wide range of globally significant mineral resources, including four fuel minerals, 11 metallic minerals, 22 minor minerals, and 52 non-metallic minerals.
With foreign direct investment in the mining sector for all non-atomic and non-fuel minerals being fully opened up to 100 percent through the automatic route, including for diamonds and precious stones, the mining sector is in the right place to create considerable global interest.
The new Mining Policy also seeks to develop a sustainable framework for optimum utilization of the country’s natural mineral resources for the industrial growth in the country.
The concurrent fifth edition of the Asian Mining Congress would be held during the same period at Hotel Hyatt Regency in Kolkata.