Monday, August 22 2005 16:52 Hrs (IST) - World Time -

New Delhi: The Mines Ministry has favoured off-loading ten per cent stake in state-run aluminium giant National Aluminium Company (NALCO), but no final decision has been taken in this regard, Mines Minister Sis Ram Ola informed the Rajya Sabha today(Aug 22, 2005).

The Department of Disinvestment had sent a proposal to the Mines Ministry in April this year, seeking its views on off-loading 20 per cent stake in the PSU.

"This ministry has sent its comments to the Department of Disinvestment favouring ten per cent disinvestment in NALCO. No final decision has been taken in this regard," Ola said in a written reply.

Australia has expressed its desire to cooperate with the Indian mining sector in areas of mineral exploration, supply of state-of-the-art technology and providing training to Indian miners, Minister of State for Coal and Mines Dasari Narayana Rao said, replying to a query.

The 15-member Indian mining mission, which had toured Australia from June 28 to July 7 this year had extensive deliberations with the Australian Trade Commission, Federal government, mining institutes and other mining organisations and their proposals and discussions are at initial stages and no agreement had been signed so far, he said.

Majority of project proposals on mining leases get delayed at the state level for want of additional information or clarification from the states.

In case of Jharkhand 16 proposals of mining leases were received by the Centre. Of these, additional information or clarification is awaited from the state while remaining two cases were being processed by the Mines Ministry, Rao said.