Additional Information
Market: ASX
Sector: General Mining - Copper
EPIC: IRL
Latest Price: A$0.00  (0,00%)
52-week High: A$0.01
52-week Low: A$0.00
Market Cap: A$2.55M
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India Resources
www.indiaresources.com.au

India Resources Limited (ASX: IRL) operates the Surda Copper Mine in India.  IRL has developed a close commercial alliance with Hindustan Copper Limited (HCL, a Government of India enterprise). These alliances with HCL are a first for an overseas group. Hindustan Copper is the sole integrated producer of primary copper in India and is listed on the Mumbai, Delhi, Calcutta and Madras exchanges.

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India Resources issues convertible note to La Jolla Cove Investors Inc.

7th Jun 2010, 7:10 am

Copper operating company, India Resources (ASX: IRL) has issued a second convertible note with a face value of US$1.5 million to La Jolla Cove Investors Inc.

India Resources is the only foreign-owned company with a mining operation in India.

It operates the Surda copper mine; under IRL's management the mine achieved record copper production during the month of March 2010.

The Surda Copper Project has a JORC resource estimate of 13,095,000 tonnes of indicated and inferred resource at 1.09% Cu.

Managing director of IRL, Arvind Misra said the La Jolla deal is a part of a larger business relationship that has enabled the company to reduce corporate debt and to continue development of its proposed coal mine activities and to advance exploration programmes.

The company is strengthening its balance sheet with the increased revenue flows from Surda and a significant reduction in debt planned by the end of 2010.

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