Astra Mining Ltd Signs Joint Venture Agreement For Property Development In Rockhampton, Queensland

Adelaide, Australia – Astra Mining Ltd has signed a joint venture agreement with Capricorn Property Developments Pty Ltd, a company headed by Paul Czislowski, an experienced property developer who has previously headed projects throughout the Central Highlands Coal district. This enables the company to begin the proposed development of the Rockhampton region, which focuses on the needs of the growing community and includes projects ranging from housing to commercial developments.

“The joint venture between Astra Mining Ltd and Capricorn Property Developments Pty Ltd is an essential progression for the company in diversifying, yet consolidating itself, as a macro provider of mining related services. Astra Mining Ltd is adding a critical, additional income stream to its business activities by entering into the joint venture,” said Jaydeep Biswas, Chief Executive Officer of Astra Mining Ltd.

Rockhampton, which is connected to the Australian mining hub of the Bowen Basin by rail, is ideally positioned to accommodate the fly in, fly out mining and mining services workforce. This link with the steadily growing mining community, and the increasing demand on the existing infrastructure, is expected to have a large influence on the housing and accommodation needs of the region in the medium term. Astra Mining Ltd, through its interest in the joint venture company Astra Capricorn Investments Pty Ltd, plan on capitalizing on this demand for housing by focusing on developments in locations that provide easy access to both the Bowen Basin and Gladstone.

The effect of mining on the growing population in surrounding regions

Australia is the world’s fourth largest coal producer and, due to the country’s low levels of domestic consumption, it is the largest net exporter. “The global demand for coal is expected to increase exponentially. As this resource is sourced almost entirely from the Bowen Basin, the population in the surrounding regions is also expected to grow as mining in existing operations increases and new mines are created,” said Jaydeep Biswas, Chief Executive Officer of Astra Mining Ltd.

There are currently 54 operating coal mines in Queensland, with 4 mines under construction (3 of which are in the Bowen Basin) and a further 28 projects have mining leases granted or under application.

Increased demand for housing

The mining community is increasingly becoming more reliant on a workforce that work in block shifts, meaning there is a high concentration of the population in regional hubs and larger mining towns. With new developments expected in Rockhampton and its surrounding region, including major mineral and energy projects, skilled workers will be expected to move to the region, if only temporarily, and the demand on infrastructure will only increase. This is the major initiator behind the demand for new housing, and other commercial developments in Rockhampton.

The Queensland Government Office of Economic & Statistical Research projects that 17,200 new dwellings will be constructed in the period of 2011 to 2031, with the Rockhampton regional council stating they have 2,604 hectares available for residential development. This is expected to yield approximately 10,000 dwellings. ‘The supply and demand in the area, which is supported by the smaller mining communities needs for reasonably priced ‘off site’ accommodation, underpins the feasibility of Astra Mining Ltd’s concept for development of the region,’ said Silvana De Cianni, Managing Director of Astra Mining.

For more information on Astra Mining Ltd, please visit the website located at http://www.astramining.com

Contact Information

Jaydeep Biswas

CEO

Astra Mining

Contact via E-mail