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news article about aussie miners in india

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    might be of interest to some, from todays West Australian online. I thought a bit more could be said about IRL.



    India's hunger for resources and mining expertise could help Australian firms cushion the blow from the global financial crisis, the Australian Trade Commission says.

    Austrade chief economist Tim Harcourt said Australia's growing exports to emerging markets such as India would alleviate the credit crunch effect in Australia.

    "According to the recent DHL survey of Australian export businesses, our exporters regarded India as the No.2 destination for commodities after China, even in the early days of the global credit crunch," Mr Harcourt said.

    "The low exchange rate together with Australian capability will enhance our international competitiveness."

    Austrade senior trade commissioner in New Delhi Peter Linford said India's growing need for energy and resources gave Australian companies scope to increase their exports.

    India is a growing export market, as the value of Australian goods and services to India increased more than 650 per cent in the nine months to September 30 compared with the same period in 2000, Australian Bureau of Statistics figures show.

    And more demand for resources has opened the door for Australian mining expertise, as more than 50 Australian mining companies will participate at India's largest mining industry event - the International Mining and Machinery Exhibition (IMME 2008) in Kolkata this week.

    Mr Linford said India was better insulated from the global financial crisis than other countries such as China.

    "It's a much more domestically driven economy, relying less on exports as a percentage of the GDP (gross domestic product)," Mr Linford said.

    He said that according to the International Monetary Fund, India's exports as a percentage of GDP were 21.2 per cent - half that of China's at 40.7 per cent.

    India's economy grew at an average nine per cent in the past four years, while it was forecast to grow at 7.6 per cent for 2008, Mr Linford said.

    He said India required more efficient mines to sustain this growth, which had led to demand for Australian mining expertise.

    "We also expect to see increased investment opportunities for Australian companies in India, and most definitely an increased interest from India in investment into Australian resources reserves and assets," Mr Linford said.

    Austrade industry specialist in Kolkata Partha Sen said more environmentally friendly coal mining methods were being looked at in India.

    Mr Sen said Australian firms had shown strong interest about clean coal technology.

    "There's growing acceptance among the Indian industry that it's not only environmentally unsustainable to burn coal with an ash content of around 30 to 45 per cent, but that it's also not economical to transport unwashed coal over large distances," Mr Sen said.

    "So, coal washeries are becoming a major area of opportunity for Australia."

    Our current conquerors on the cricket pitch have hired two Australian mining firms to develop large, underground mines, Mr Sen said.

    "Just in the last 12 months, Australian companies Thiess Leighton India and India Resources have won significant contracts to provide contract mining services," he said.

    AAP
 
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