India Resources Limited

Published : November 26th, 2008

Surda Copper Operation - Update

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Keywords :   Copper | Fixed | India | Recovery |
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+ACY-nbsp+ADs-26 NOVEMBER 2008+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal align+AD0-center style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt: auto+ADs-text-align:center'+AD4APA-span class+AD0-SpellE+AD4APA-b+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:20.0pt+ADs-font-family:Georgia+ADs-mso-ansi-language:EN-AU'+AD4-Surda+ADw-/span+AD4APA-/b+AD4APA-/span+AD4APA-b+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:20.0pt+ADs-font-family:Georgia+ADs-mso-ansi-language:EN-AU'+AD4- Copper Operation Update+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal align+AD0-center style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt: auto+ADs-text-align:center'+AD4APA-b+AD4APA-i+AD4APA-span lang+AD0-EN-AU style+AD0-'font-family:Georgia+ADs- mso-ansi-language:EN-AU'+AD4-Operation Now Cash Positive as Production Ramp-up Continues +ADw-/span+AD4APA-/i+AD4APA-/b+AD4APA-b+AD4APA-i+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:20.0pt+ADs- font-family:Georgia+ADs-mso-ansi-language:EN-AU'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/i+AD4APA-/b+AD4APA-i+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:20.0pt+ADs-font-family:Georgia+ADs-mso-ansi-language:EN-AU'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/i+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-India Resources Limited (ASX: IRL) is pleased to report that the ramp-up of copper concentrate production from the +ADw-span class+AD0-SpellE+AD4-Surda+ADw-/span+AD4- Copper Mine in India has passed a significant milestone with the operation now cash positive based on current cash operating costs.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-In the last 30 days, the operation has processed 36,665 tonnes of ore at an average grade of 0.85+ACU- copper, resulting in the production of over 290 tonnes of metal-in-concentrate for delivery to Hindustan Copper +ADw-span class+AD0-SpellE+AD4-Limited?s+ADw-/span+AD4- (+ADw-span class+AD0-SpellE+AD4-HCL?s+ADw-/span+AD4-) nearby smelter. This level of monthly production is significantly above the break-even level for the operation. Production is planned to increase further to a rate of at least 37,500 tonnes per month (450,000 tonnes annually). +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-Concentrate grade and recovery have dipped slightly to 22.4+ACU- Cu and 93.2+ACU- respectively during this period due to commissioning of the new +ADw-span class+AD0-SpellE+AD4-Metso+ADw-/span+AD4- RCS-10 flotation cells that were recently installed at the +ADw-span class+AD0-SpellE+AD4-Mosaboni+ADw-/span+AD4- concentrator plant. However, both key metrics should improve after the +ADw-span class+AD0-SpellE+AD4-Metso+ADw-/span+AD4- flotation system is fully commissioned.+ACY-nbsp+ADs- +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-Grade (0.9+ACU-) is expected to continue to track slightly below budget (1+ACU-) until several new mining areas are opened up early next year. Extra tonnages are being targeted over the next few months to achieve the planned metal-in-concentrate production (4,500 tonnes annually or 375 tonnes monthly).+ACY-nbsp+ADs- +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-The Surda Operation delivers copper concentrate to HCL under a fixed price contract. The pricing arrangement is not affected by the recent falls in the copper price and is very competitive compared to HCL+ADw-span class+AD0-GramE+AD4-?s+ADw-/span+AD4- other supply for the smelter sourced from overseas or interstate.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-The Surda Mine, located in +ADw-u1:PlaceName u2:st+AD0AIg-on+ACIAPgA8-st1:place w:st+AD0AIg-on+ACIAPgA8-st1:PlaceName w:st+AD0AIg-on+ACIAPg-Jharkhand+ADw-/u1:PlaceName+AD4APA-/st1:PlaceName+AD4- +ADw-u1:PlaceType u2:st+AD0AIg-on+ACIAPgA8-st1:PlaceType w:st+AD0AIg-on+ACIAPg-State+ADw-/u1:PlaceType+AD4APA-/st1:PlaceType+AD4APA-/st1:place+AD4-, is India Resources? +ADw-span class+AD0-GramE+AD4-first+ADw-/span+AD4- mine development in +ADw-u1:place u2:st+AD0AIg-on+ACIAPgA8-u1:country-region u2:st+AD0AIg-on+ACIAPgA8-st1:country-region w:st+AD0AIg-on+ACIAPgA8-st1:place w:st+AD0AIg-on+ACIAPg-India+ADw-/u1:country-region+AD4APA-/u1:place+AD4APA-/st1:place+AD4APA-/st1:country-region+AD4- through its alliance with HCL. The Company has been in discussion with HCL on the possibility of opening up several other copper mines located in the Singhbhum Copper Belt. +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4AJg-nbsp+ADsAPA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-EOIN ROTHERY+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs-color:black+ADs-mso-ansi-language: EN-GB'+AD4-Managing 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Data and Statistics for these countries : India | All
Gold and Silver Prices for these countries : India | All

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 $20 MILLION TO DOUBLE COPPER PRODUCTION
8/21/2007COMMENCES DRILLING NEW TARGETS
8/15/2007ACQUIRES DIAMOND LEASES
7/17/2007 To commence Production early 2008
6/6/2007Surda Operations Update
5/20/2007has closed its Initial Public Offer heavily oversubscribed
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AUSTRALIA (IRL.AX)
0.002+0.00%
AUSTRALIA
AU$ 0.002
08/29 10:30 -
0%
Prev close Open
0.002 0.002
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0.002 0.002
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.002 -%
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0 -%
Produces Copper
Develops
Explores for Coal - Copper - Diamonds - Gold - Lead - Silver - Zinc
 
 
 
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