Press Information Bureau

Government of India

Ministry of Steel

07-February-2013 13:39 IST

A delegation led by the Union Minister of Steel, Shri Beni Prasad Verma, met with the President of Uruguay, Mr. José Mujica in Montevideo on 6th February, 2013. The Union Minister of Steel and the President of Uruguay discussed points to improve co-operation in the mining sector between the two countries. Also present during the meeting were the Minister of Industry, Energy and Mining, Government of Uruguay Mr. Roberto Kreimerman and other ministers.

The President of Uruguay welcomed the Indian Steel Minister and thanked him for visiting Uruguay. Both expressed their strong desire to increase trade turnover in the coming years.

The Steel Minister invited the Uruguayan Trade and Industry to participate in the Indian Trade Exhibitions and conduct roadshows for more joint ventures, transfer of technology and inviting Indian investment for setting up production facilities in Uruguay for exports to other Latin American countries. The Steel Minister thanked the President of Uruguay for showing interest to collaborate with India in the mining sector.

Later on the same day the Minister of Steel met with the Minister of Industry, Energy and Mining, Government of Uruguay, Mr. Roberto Kreimerman in Montevideo. The two ministers discussed various aspects of joint exploration and production of minerals in the Latin American country. Speaking on the occasion Shri Verma said, “There is a huge potential for mining of iron ore, granite, gold and diamond, which can be explored by Indian companies in Uruguay. I believe the two countries can collaborate to utilize each others strength in areas of mineral exploration.”

During the visit a Letter of Intent (LoI) was signed between Mr D.R.S. Chaudhary, Secretary Steel, Government of India and Mr Roberto Kreimerman, Minister, Industry, Energy & Mining, Government of Uruguay to explore and encourage investment opportunity in iron and steel sector and to facilitate exchange of technical knowhow in iron ore and steel related raw materials.

The visit of the Indian delegation was successful in establishing a firm base for mineral exploration and production by Indian firms in Uruguay. The delegation comprised Shri D.R.S. Chaudhary, Secretary Steel, Shri U.P. Singh, Joint Secretary, Shri C.S. Verma CMD, NMDC and other senior officials of the Ministry of Steel, Government of India. During the course of the meeting senior officials from Uruguay were also present.

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NSK

Mining cooperation expands: LoI fosters joint exploration, investment facilitation and technical exchange between the two countries. A ministerial delegation secured a Letter of Intent to explore and encourage investment in the iron and steel sector, facilitate exchange of technical knowhow, and promote joint exploration and production of minerals-targeting iron ore, granite, gold and diamond-to enable industry participation and establishment of production facilities for export.