Astra Mining Ltd Open Office in Mining Hub of Orissa, India
ADELAIDE, AUSTRALIA – Astra Mining Ltd has opened its first Indian office, a vital part of its growth plan incorporating the acquisition of iron ore mines with a special focus on the existing mining hub of Orissa. The office was opened by ceremony according to traditional custom.
Orissa is known for its rich mineral deposits holding 16.92% of the total mineral reserves of the country. India’s richest and biggest deposits are mostly confined to Banded Iron Formations (BIF) of Precambrian age. The Iron Ore Group covers the Mayurbhanj, Keonjhar, Sundargarh and Jajpur districts of Orissa and exhibit the major and high grade deposits of Eastern India.
The Mayurbhanj, Keonjhar, Sundargarh and Jajpur districts from Orissa bear the major high grade (+60% Fe) hematitic deposits from these belts and contribute to the 60% of total Indian iron ore. As per the information available from Director of Geology and Director of Mines, Orissa, the state has 5306 MT of iron ore deposits. Keonjhar being the leading district with a resource base of around 3574 Mt.
“Astra Mining has identified a mining cluster of 10 iron ore mines in the Keonjhar district of Orissa, India adding up to an estimated 500 million tonnes of high grade hematite reserves. All mines identified are operative and ready for expansion. Each has mine has resources of high FE (+63%) content with close proximity to the rail link to Paradip port for export”., said Dr Jaydeep Biswas, Chief Executive Officer of Astra Mining. Alternatively, steel production in India is expected to expand exponentially, thus providing a local market for high grade iron ore. Astra Mining is in the process of acquiring the first of two mines on a cash plus share basis. The high quality iron ore reduces or eliminates the need for beneficiation of products.
The office in Bhubaneswar, Orissa is strategically positioned to be a base for the Astra Mining execution team in India. “Because of the abundant mineral resource base, its strategic proximity to major iron ore consumers in the world market, Orissa offers an excellent investment opportunity for us as we target steel manufacturers both in India and China growth markets.” said Silvana De Cianni, Managing Director of Astra Mining Limited.
“The mining scenario in Orissa compares very favourably with the Western Australian mining industry. The low cost of operation and infrastructure costs enable mines in Orissa to operate very profitably, even at low production rates. Close seaports and ready infrastructure in the state makes exports and imports cost effective and more competitive.”
About Astra Mining Ltd
Astra Mining Ltd is a diversified, operational mining company with iron ore, gold and coal projects in India and Australia and intellectual property for manufacture of high-strength steel
For further information on Astra Mining Ltd, please visit the website located at http://www.astramining.com
- Contact Information
- Jaydeep Biswas
- Astra Mining Ltd
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