India Resources Limited

Published : November 02nd, 2007

INTO COPPER PRODUCTION AHEAD OF SCHEDULE

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MEDIA RELEASE                                                               

 

2 November 2007  

 

INDIA INTO COPPER PRODUCTION AHEAD OF SCHEDULE

 

 

Diversified minerals explorer India Resources (ASX:IRL) has today commenced copper concentrate production at its Surda project in eastern India.

 

The production milestone has completed a rapid period of development for India Resources, which is in production two months ahead of schedule and less than six months since it listed on the Australian Stock Exchange (ASX).

 

India Resources Chairman Michael Kiernan said production of first concentrate at the Mosaboni Concentrator at the Surda project was a significant achievement for India Resources and its shareholders.

 

It follows the hoisting of first ore from the Surda mine in September.

 

“We are into copper production, and are now poised to capitalise on India’s copper potential with leading edge mining techniques, and access to one of the world’s largest markets,” he said.

 

“The Mosaboni plant is fully functional, has produced its first concentrate and will now be ramped up toward full production and our initial annual target of 4500 tonnes of copper concentrate per year,” Mr Kiernan said.

 

India Resources expects full scale mining at Surda to start ahead of schedule in December. The Company has more than 200 people on the ground in India.

 

The Mosaboni concentrator has a total annual capacity of more than 900,000 tonnes of ore. The initial production at Surda is projected at around 400,000 tonnes per year.

 

 

 

For further information, please contact:

 

Michael Kiernan                                 Eoin Rothery                                  Warrick Hazeldine

Chairman                                           Managing Director                         Purple Communications

Tel: +61 (0) 8 9324 7002                     Tel: +61 (0) 8 9324 7009                 Tel: +61 (0) 8 9485 1254

Mob: 0418 904 165                             Mob: 0420 904 332                         Mob: 0417 944 616


 

 

 

About India Resources

 

The company is headquartered in Perth, Western Australia with the primary objective to maximize shareholder wealth by capital growth and dividend through the discovery of economic mineral deposits and the development of profitable mining operations.

 

IRL is applying Australian exploration expertise and cost effective mining techniques to project in India, to capitalise on country huge growth and market opportunities.

 

The Company’s portfolio of assets comprises:

 

Hindustan Copper Limited - Surda Mine

The Company has the benefit of an alliance with Hindustan Copper Limited (HCL - a Government of India enterprise) with the initial focus on identifying existing operations and areas where large-scale mineralisation has been proven. HCL is the sole integrated producer of primary copper in India and is listed on the Mumbai, Delhi, Kolkata and Madras exchanges.

 

IRL, in alliance with HCL, plans to re-open and operate the Surda Mine with an initial objective of delivering annual production of 4,500 tonnes of copper concentrate. The HCL Surda Mine closed in January 2003 and for the six years prior produced a total of 1,473,000 tonnes at an average grade of 0.9% copper.

 

Hindustan Copper Limited – Exploration MOU

IRL has the benefit of a Memorandum of Understanding (MOU) for general exploration on HCL’s various leases including tenure around the Surda Mine, and around HCL’s current operations at Malanjkhand and Khetri. IRL will undertake detailed evaluation of exploration areas to be determined in consultation with HCL.

 

Aravalli Project

Through IRL’s in-country consultants, the Company has acquired two Reconnaissance Permits in Rajasthan (north western India). The permits cover a combined total of more than square kilometers. The Aravalli Proterozoic metamorphic belt is prospective for copper, lead, zinc as well as gold. IRL has recently completed a reconnaissance drilling program with positive results.

 

Coal

As has happened in China, India’s rapidly growing economy is driving a surge in demand for power. IRL is currently seeking suitable projects for rights to explore and develop coal projects in India.

 

Diamonds

The Company’s diamond initiative will focus on the Bhandara Diamond Project which consists of seven granted Reconnaissance Permits in Orissa, as well as three Reconnaissance Permit applications in Chhattisgarh, located in the region of several kimberlite ore bodies.

 

 

Visit: www.indiaresources.com.au

 

 

 

 

 

 

 

 

 

 

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

 

 

India Resources Limited

PRODUCER
CODE : IRL.AX
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India Res. is a zinc and lead producing company based in Australia.

India Res. produces zinc, lead, copper in India.

Its main asset in production is SURDA in India and its main exploration properties are DHAWAR PROJECT, BUNDELKHAND PROJECT, BIHARINATH, ARAVALLI PROJECT, BHANDARA DIAMOND PROJECT and ASKOT MINE in India.

India Res. is listed in Australia. Its market capitalisation is AU$ 2.0 millions as of today (US$ 1.3 millions, € 1.2 millions).

Its stock quote reached its highest recent level on November 05, 2010 at AU$ 0.03, and its lowest recent point on June 10, 2016 at AU$ 0.00.

India Res. has 1 000 590 016 shares outstanding.

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Annual reports of India Resources Limited
Annual Report 2007
Project news of India Resources Limited
12/2/2014Surda mine update
6/10/2008(Surda)Surda Delivers Record Daily Copper Production
Corporate news of India Resources Limited
5/17/2016Quarterly Activities and Cash Flow Report
12/22/2015AGM Presentation
12/22/2015Results of Annual General Meeting
12/22/2015Successful appeal to Indian Tax Assessment
11/2/2015Notice of Annual General Meeting
11/2/2015Appendix 4G Corporate Governance Disclosure
4/11/2015Surda expension project
3/21/2015Half Year Accounts
3/9/2015Shareholder Update
12/26/2014Aravalli Decision
12/2/2014Results of annual general meeting 2014
10/30/2014Quarterly activities report 30 September 2014
10/30/2014Notice of annual general meeting
4/21/2010Quarterly report
11/26/2008Surda Copper Operation - Update
10/1/2008Announces 2008 Results
9/5/2008Working Capital Facility and Project Update
6/25/2008Director Resignation
4/15/2008Secures Future Copper Production Base
2/11/2008boosts Board
1/15/2008DISCOVERS NEW DIAMOND INDICATORS
1/8/2008First copper sales as Surda steams ahead
12/20/2007ACQUIRES STAKE IN INDIAN EXPLORER
12/4/2007BOOSTS DIAMOND PROSPECTS
11/2/2007 INTO COPPER PRODUCTION AHEAD OF SCHEDULE
10/9/2007RAISING $20 MILLION TO DOUBLE COPPER PRODUCTION
8/21/2007COMMENCES DRILLING NEW TARGETS
8/15/2007ACQUIRES DIAMOND LEASES
7/17/2007 To commence Production early 2008
6/6/2007Surda Operations Update
5/20/2007has closed its Initial Public Offer heavily oversubscribed
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