NEW DELHI - The Province of British Columbia and the government of India signed a memorandum of understanding (MOU) on co-operation between the two governments for mineral exploration and mining.
"British Columbia's world-class mineral resources can help India fuel their growing economy," said Premier Christy Clark. "Our mining expertise will build new opportunities for trade and investment in both countries that will help create and protect B.C. jobs."
This MOU outlines mutual government cooperation on sustainable development, revenue sharing, training, geologist exchanges, mineral tenure, investment, health and safety, technology and research related to mineral exploration and mining activities. It will allow both British Columbia and India to learn from each other about the mineral industry and build stronger relationships.
The MOU was signed by Additional Secretary Srivastava and Deputy Minister Dana Hayden. Premier Christy Clark and the Honourable Minister Dinsha Patel witnessed the MOU signing with other senior industry and government representatives in attendance.
On Nov. 11, 2011, a mining roundtable was held in New Delhi and attended by state-level government representatives and industry. At this roundtable, Additional Secretary Srivastava expressed India's serious interest in mining partnerships with B.C.
British Columbia has some of the best mining products in the world, including coal, copper, gold, molybdenum, silver, lead and zinc. British Columbia is the second largest coal exporter in the world. It has enough coal resources to meet the world's growing demand.
India is one of the major steel-making countries in the world. Indian companies are interested in British Columbia's potential to supply high quality steel-making coal to support their operations.
As part of 'Canada Starts Here: The BC Jobs Plan', the Province expects to see eight brand new mines and another nine mining expansions operational in British Columbia by 2015.
This growth is anticipated to generate an increase of additional mine-operation revenue estimated at $1.6 billion per year once these projects are fully operational and create approximately 1,800 new and sustain more than 5,000 direct-mining jobs in the province.
The vast majority of jobs are anticipated to be high paying, given the average wage in the mining sector reaches well over $100,000 annually.
Today, all of B.C.'s mines are profitable, tax revenues are rising and direct mining jobs are increasing.
As part of the BC Jobs Plan, Premier Christy Clark is leading the largest trade mission in the province's history to promote B.C. as a safe harbour for investment. The Jobs and Trade Mission is focused on strengthening existing relationships between B.C. and Asian markets, opening doors for new relationships and setting the stage for future opportunities in China and India.
Delegates from more than 130 companies and organizations are accompanying the Premier as part of the effort to defend and create jobs here at home.
Deputy Press Secretary
Office of the Premier
Ministry of Jobs, Tourism, and Innovation
250 413 7316 (cell)
Ministry of Energy and Mines