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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 achieves new ore production record at Surda copper mine

4th Aug 2010, 8:21 am

India Resources Limited (ASX: IRL) has set a new record for monthly ore production at its Surda copper mine in western India during the month of July, 2010.

The Surda operations produced approximately 308 tonnes of copper for the month with the average feed grade for the month at 0.88% copper. The record copper tonnage from the mine is 313 tonnes.

During July, the Surda mine commenced hoisting of ore from the lower levels of Number 3 Shaft, which has the highest estimated copper grades in the Surda resource.

The contribution from this area was approximately 1,000 tonnes of ore at a grade of 1.2% copper.

Under the mining schedule, the ore production contribution from this area will increase in the coming months which will have the impact of proportionally increasing feed grades.

Importantly, at these production levels the Surda mine generates positive operating cash flows including head office operating costs.

Arvind Misra, managing director, said that the company remained on track to meet its target of producing 340 tonnes of copper in concentrate per month and to deliver increased production levels over the coming years.

The Surda Copper Project is owned by Hindustan Copper Limited (HCL) and operated by India Resources in the state of Jharkhand.

In the medium to long term, IRL is aiming to double production at Surda. The company is initially targeting production of 450,000 tonnes of ore per annum, to deliver 4,500 tonnes of copper concentrate.

Longer term, and with further development, the company’s ultimate production target is 900,000 tonnes (9,000 tonnes of copper in concentrate).

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