India has evinced interest in mining iron ore, granite, gold and diamond in Uruguay and has entered into a pact with the Latin American nation for exploring and encouraging investment opportunities in the mineral sector.

“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 utilise each others strength in areas of

mineral exploration,” Steel Minister Beni Prasad Verma, who met President of Uruguay Jose Mujica in Montevideo, said.

Verma is on a visit to the Latin American nation and discussed points to improve co-operation in the mining sector between the two countries, an official statement said here today.

Verma also met Minister of Industry, Energy and Mining, Government of Uruguay, Roberto Kreimerman and discussed various aspects of joint exploration and production of minerals in the Latin American country, it said.

“During the visit a Letter of Intent (LoI) was signed by D R S Chaudhary, Secretary Steel, Government of India and 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 statement said.

Courtesy: moneycontrol.com

The visit of the Indian delegation was successful in establishing a firm base for mineral exploration and production by Indian firms in Uruguay, it added.

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