Source - Business Standard

Mr Ganesan Natarajan whole time director and president of Kolkata’s Ennore Coke Ltd is in Australia to attend the Commonwealth Business Forum held in conjunction with the Commonwealth Heads of Government Meeting in Perth.

During a brief stopover in Sydney, Mr Natarajan, who is part of a CII delegation, spoke exclusively on India’s growing engagement with the island continent in the mining sector.

Q - What would you be highlighting at the round table on mining?

A - I am part of the India Australia CEO forum, which was formed in May this year. I am here representing my country more than my own company. I want to make certain key points, especially on the coal industry. I will be emphasizing on Indian policies and the liberalization of FDI up to 100% in the mining areas, mining operational areas.

India gives a lot of potential for Australian companies to operate the underground mines if they are well developed and equipped. We lack in underground mining because most mines in India are open-cast. But most of the reserves are located below the city. So, underground mining has to start and Australian expertise would be very useful in that. I will emphasize on FDI not just in coal, but iron ore, bauxite and other minerals also.

More than 85% of Indian coking coal imports are happening from Australia. Also, the way the power deficit is happening in India, most of the projects are coal based. Domestic production is coming down so the Australian imports are going to increase. By 2013-14, we will be importing close to 100 million tonnes of thermal coal per year from Australia.

To read full transcript, please visit www.steelguru.com