India, Namibia to ink pact on mineral exploration

India, Namibia to ink pact on mineral exploration

New Delhi: India and Namibia will work together for exploring mineral resources, including gold, diamond and uranium as the government on Thursday approved an agreement to be signed between the two nations shortly.

“The Cabinet today approved an MoU between ministry of mines, government of India and ministry of mines and energy of Namibia to provide an umbrella framework for development of mineral resources and encourage and promote investments in geology and mines in both the countries," information and broadcasting minister Ambika Soni told reporters after the meeting.

The MoU will be for a period of five years unless terminated by any of the nations involved, and will be signed shortly.

“Namibia has good reserves of diamond, copper, gold, uranium and zinc among other minerals and a joint working group with members from both the countries would be working for executing the MoU," the minister said.

The MoU will promote investment in mining and related activities, besides transfer of technology between the two countries, she said.