A co-operation agreement for mineral exploration and mining signed with India during the premier's trade mission is a "very initial and important step," says B.C. jobs minister Pat Bell.
"We're looking to expand the opportunities with India in terms of ongoing investment," Bell said during a teleconference with media last week. "It is a big one for us in the sense that it's continuing to expand our ability into a new market and create that economic diversity."
The actual agreement, a memorandum of understanding, talks about sustainable development, revenue sharing, training, geologist exchanges, mineral tenure, investment, health and safety, technology and research related to mineral exploration and mining activities.
"It's really an exchange between our two governments in terms of building capacity but it is a very initial and important step for us," Bell said.
India is one of the major steel-making countries in the world and Indian companies are interested in B.C.'s potential to supply high quality steel-making coal to support their operations, according to the provincial government.
Bell, who was not on the India leg of the trip, staying behind in China before returning to B.C. midweek, highlighted another cooperation agreement the provincial government signed with China's National Development and Reform Commission (NDRC).
He said the NDRC is the equivalent of B.C.'s jobs, tourism and innovation ministry, which Bell heads, but on a national level, and characterized the agreement as "high level" and working on future development opportunities, particularly around mining.
"This signing of an agreement with British Columbia as a sub-national government I think is a real testament to the work that we've been doing and the collaboration we've been doing over there," Bell said.
