Mineral Sector Opportunities in India and Canada
ICCC-Thunder Bay Chamber of Commerce & Thunder Bay Community Economic Development Commission roundtable
The growing cooperation and the potential for future growth between Canada and India in the mining sector were discussed at a roundtable conference on Thursday October 22, 2012, in Thunder Bay (Northern Ontario). The Mineral Sector Opportunities in India and Canada conference was organized jointly by Indo-Canada Chamber of Commerce (ICCC) with Thunder Bay Community Economic Development Commission (CEDC), and Thunder Bay Chamber of Commerce (TBCC).
Addressing the roundtable, Naval Bajaj, President, ICCC, explained that the discussion was being organized under the aegis of the Chamber’s Canada-India Mining Committee (CIMC) formed earlier this year with the objective to serve as a focal point for promoting trade and investments between Canada and India and provide a collaborative platform for networking and sharing market intelligence.
The roundtable is a small but important step in achieving our objectives, which include promote the export of transformative mining technologies from Canada to India. Naval Bajaj noted, “This roundtable is a small but important step in achieving our objectives, which among other things, include promoting export of transformative mining technologies from Canada to India and encouraging investments from India to Canada."
The CIMC team comprises
Indira Singh, Principal Mining Consultancy International Inc., and Chair of the committee
Naval Bajaj, President, ICCC
Satish Thakkar, Immediate Past President, ICCC
Glen Nolan, President, Prospectors and Developers of Association of Canada (PDAC)
Sampat Poddar, President Byrex Gems
R.K. Sharma, Secretary General Federation of Indian Mineral Industries
Tushar Pandey, President and Country Head, Yes Bank
Aditya Rebbapragada, Lawyer with Norton Rose LLP
Recent major investments by Indian firms in Northern Ontario have demonstrated that our large scale opportunities in the region may yield foreign direct investment
The regional roundtable provided collaborative platform for relationship development and business development and to become aware of the emerging opportunities in the mining sector both in Ontario, Canada and in India. The Canadian partners included mining services and supply providers and mining companies with mineral deposits (gold, iron and palladium) to be mined for which they are looking export market, joint ventures and partnerships. The Indian partners provided information on export opportunities for mining equipment and technologies and other investment opportunities for the Canadian companies in India.
Harold Wilson, President of the Thunder Bay Chamber of Commerce, noted “Our Chamber was pleased to work with the ICCC to provide the intelligence on the opportunities for mining supply and service companies into the growing mining sector in India. Moreover, recent major investments by Indian firms in Northern Ontario have demonstrated that our large scale opportunities in the region may yield foreign direct investment.”
Echoing his sentiments, John Mason, Project Manager, Mining Services, Thunder Bay Community Economic Development Corporation (CEDC) observed, “India and Canada host world class mineral resources for a variety of commodities; a strengthening relationship between the two countries will unlock downstream supply chain business opportunities and new mine development.”
Participating from India, Tushar Pandey, President and Country Head, Strategic Initiatives, Government & Advisory, who was invited to the round table through teleconference, said, “There tremendous opportunity to unlock in the Indian Mining Sector, but there are also several challenges. Canadian Mining Companies need to build on their strengths to harness this potential, particularly in exploration by introducing their technology, zero waste mining, maximizing the mined minerals, R&D including establishment of Centre of excellence, facilitating exchange of faculty, students and knowledge as well.”
As a follow up to this roundtable, the Indo-Canada Chamber of Commerce would be holding a conference on mining in Toronto on December 7, 2012.
