India, Argentina to sign pact for mineral cooperation

at 4:24 pm
File photo of Union Cabinet meeting

New Delhi (NVI): The way has been paved for cooperation in mineral exploration and development between India and Argentina, with the Union Cabinet today approving signing of a bilateral pact in this regard.

The Memorandum of Understanding (MoU) will be signed between the Ministry of Mines, Government of India and the Secretariat of Mining Policy of the Ministry of Productive Development of the Argentine Republic, said an official statement after the proposal was approved at a meeting of Cabinet chaired by Prime Minister Narendra Modi here.

“The objective of MoU is to strengthen the activities involved like cooperation for encouraging minerals exploration and development, including extraction, mining and beneficiation of lithium, it said.

“The MoU would also extend the possibilities of forming joint venture in the field of base metals, critical and strategic minerals for mutual benefit and exchange of technical and scientific information and interchange of ideas and knowledge,” the statement added.

The training and capacity building and promotion of investment and development in the area of mining activities, would serve the objective of innovation, it said.