Commodity Online
NEW DELHI: There exists huge potential for co-operation in technology between mining companies in India, South Africa and Brazil in view of the  environmental concerns being raised globally, according the participants of the Third IBSA Business Summit here.

Chairing the session, Levin Moodley said that since good infrastructure was necessary for any mining activity, huge opportunities were there in South Africa, which was investing heavily to improve its rail, road and port infrastructure. He also emphasised on the need for ensuring suitable rehabilitation of people living in the areas where new mining projects are started.

Similarly, Mr. Roberto Paranhos Do Rio Branco, pointed to the rich mineral deposits in Amazon region of Brazil and said that opportunities were there for Indian mining companies either directly or through joint ventures. Also, because environmental issues were assuming importance, it was important that mining companies from the three countries to share technology that could help minimise environmental damage.

Tracing the growth of the South African mining industry since the end of apartheid in 1994, Robert Applebaum said that the April 2009 deadline for ensuring 26 per cent shareholding to Black South Africans would significantly alter the mining landscape in the region. He said that this presented an opportune time for companies from India and Brazil to invest, given their expertise in mineral processing and surface mining, respectively.

On his part, Dr. S K Saxena, Vice President, Sun International, emphasized the need to source clean coal technologies from South Africa. This was specially important to fertilizer companies in India, which were heavily dependent on coal as their raw feedstock. He also cited how the cooperation between South African and Indian companies for mining rock phosphate mines had resulted in not only infrastructure development as also employment generation.

The two-day summit was jointly organised by Associated Chambers of Commerce and Industry of India (ASSOCHAM), Confederation of Indian Industry (CII), of Indian Chambers of Commerce & Industry (FICCI),Business Unity South Africa (BUSA) and Brazil's National Confederation of Industry (CNI) and supported by the Governments of South Africa, Brazil and India.