India Overview

India is one of the oldest civilisations in the world, and it has a rich and kaleidoscopic cultural heritage. It has achieved multifaceted socio-economic progress since obtaining independence in 1947. It covers an area extending from the snow-covered Himalayan Heights to the tropical rainforests of the south. India stands apart from the rest of Asia, marked off as it is by mountains and the sea which give the country a distinct geographical entity. Comparisons are being drawn between India and the other Asian economies particularly China, and the potential for a dramatic increase in the requirement for industrial products including metals and minerals. The Indian economy offers huge potential for a rapidly expanding industrial base, and a resulting increase in the consumption of a broad range of minerals and metals.

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India has the potential to develop a vast minerals resource base to support its industrial growth, particularly by supplying key products for the production of steel and aluminium. The geological and metallurgical history of India is similar to mineral rich Australia, South Africa and South America, all of which formed a continuous landmass before the break up of Gondwanaland. Whilst India contains many minerals and resources that are known to be in abundant supply and commercially extractable, many are yet to be confirmed as actual reserves or produced on a commercial basis. The net result is that India faces a deficit in many minerals, particularly base metals and hydrocarbons. Considering its growing and future needs, and the need for security of supply, India needs to enhance its resource base through more intensive exploration programs and by improving its recovery and production from existing known resources.

India was selected by the company as an investment opportunity on the basis of its favourable geology, its rapid growth, the relaxation of its restrictions on foreign investment in mining, and its growing and increasingly important mining and exploration industry. One key issue that has historically plagued the Indian resources sector is that its mining methods result 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 India’s vast mineralisation potential.

The 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 presently has a long term contract with Hindustan Copper Limited until September 2014 for operating and maintaining the Surda Copper Mine in the East Singhbhum District of Jharkhand, India. The mine is located in the country’s prime copper producing belt known as the Indian Copper Complex (ICC). It is a zone of major thrusting and later extension shearing called the Singhbhum Shear Zone, of proterzoic rocks to the east over Archean rocks of the Singhbhum Craton to the west. Surda is one of several copper deposits that have been mined since ancient times.

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Our Vision

To be the best employer in India.

# To be an organization which is known, recognized & respected in the corporate world.

# To build an organization that nurtures the talents and enterprise of our people.

# To help employees grow and find fulfillment in an open culture.

Our Strategy

# Use Australian exploration and mining expertise to develop India’s vast resources

# Establish strategic partnerships, such as with HCL, an Indian Government Corporation

# Focus on copper, coal, iron ore and diamonds

# Obtain exposure to multiple commodities with pipeline of projects

# Be exploration focused

# Provide capital to develop projects


Copper in India

Copper was the first metal to be worked by man, and its history provides a fascinating insight into man's ingenuity in utilizing the resources of nature around him. Throughout the ages, this metal and its principal alloys have contributed to the advance of civilization. At the beginning of history copper was employed as a material for primitive weapons of self-protection and cooking utensils; now-a-days it would be difficult to find a field of human activity in which copper or its allows do not play some role.

It is generally agreed that the first major usage of copper was in the kingdoms of the Euphrates and Nile river valleys. Archaeological excavations in the ruins of Ur and Babylon, and the tombs of Egypt, have yielded ample evidence of the place copper had in the life of the people of those days.

The name "copper" goes back to the time of the Romans who called the metal "aes Cyprium", i.e. the metal of Cyprus, where it had been mined from very early days. Appropriately, an Egyptian hieroglyph known as the ankh, the symbol of eternal life, was used as a symbol for copper. As the time went by, "Cyprium" became "Cuprum", and from "Cuprum" the modern chemical symbol for copper (Cu) was derived.

Copper is mined principally in the West and South of the USA, Zambia, the Congo, Canada, Chile, Australia, South Africa, Finland, Scandinavia, Germany, Spain, Yugoslavia, Russia, India and Japan.

Indian craftsmanship in brass and bronze is world-famous. Tanjore bronze and brass plaques, engraved brass sheets and bronze bells are prized both at home and abroad. The variety of copper and bronze decorations found in many temples never fails to evoke admiration.

 

India's Potential Copper Reserves

Copper graph