India Resources (IRL)

Shares / Stock Code

IRL

Stock Exchange / Sharemarket

Australian Securities Exchange

India Resources (IRL) was incorporated on 21 August 2006 for the purpose of accumulating a suite of resource assets in India. The company has assembled a mix of projects in a range of commodities and areas on India. The company was listed on the ASX on 6 June, 2007.

India was selected by the company as an investment opportunity on the basis of its favourable geology and culture; its recent rapid growth and relaxation of foreign involvement in mining; and its nascent mining and exploration industry.

One key issue that has historically plagued the Indian resources sector is not its lack of resources, rather the mining methods that results in a high cost base of mining operations in comparison to countries such as Australia. This together with the need for strong exploration expertise provides an opportunity to combine Australian mining and exploration skills with the vast Indian minerals prospectivity.

The Indian mining market will undergo changes in the next 12-18 months following changes from the government based on recommendations from the Hoda Report which looked into the regulations and obstacles of the mining industry in India. The mining sector could become much more important to the Indian economy in years to come if some of the changes now happening come to fruition. India Resources is positioned to immediately benefit by these changes.

The Company has developed a close commercial alliance with Hindustan Copper Limited (HCL, a Government of India enterprise) with two initiatives. Hindustan Copper is the sole integrated producer of primary copper in India and is listed on the Mumbai, Delhi, Calcutta and Madras exchanges. The company operates plants and mines at Khetri Copper Complex in Rajasthan (ore mines, concentrator, smelter and refinery plants), Malanjkhand Copper Project in Madhya Pradesh (ore mine and concentrator), Taloja Copper Project in Maharashtra (continuous cast copper complex) and its Indian Copper Complex in Jharkhand (concentrator, smelter, refinery and wire bar plants).

The second initiative of India Resources is to conduct exploration and ultimately develop several of its prospective copper tenements. These alliances with HCL are a first for an overseas group and are indicative of the Indian resource industry’s willingness to embrace Australian exploration and mining expertise.

India Resources (IRL) Products and Services

  • Exploration of various metal groups in India

India Resources (IRL) Locations and Subsidiaries

India Resources Head Office
989 Wellington Street,
WEST PERTH, WA 6005
Phone: 08 9327 7444
Fax: 08 9327 7499

India Resources (IRL) Share Price

Submitted by ASX Listed Company on 23 April, 2010 - 00:30

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