announcement

First copper sales as Surda steams ahead
Diversified minerals developer and producer India Resources (ASX:IRL) has commenced first sales of
copper concentrate from its flagship Surda project, as mining and processing advances ahead of
target.
The first truck load of concentrate was delivered to IRL’s project partner Hindustan Copper Limited
(HCL) last week, marking another significant milestone for the Surda copper project west of Kolcata.
IRL Managing Director Eoin Rothery said production output from the Surda mine and the Mosaboni
Concentrator was well ahead of target following commencement of mining in November.
“IRL’s December mine production has been 130% above its production targets, with 4,614 tonnes of
ore hoisted at Surda at an average grade of 0.95% Cu,” Mr Rothery said.
“Grade quality is likely to further improve when dilution control measures take effect in coming
months,” Mr Rothery said.
“IRL’s Mosaboni Concentrator Plant has also been operating ahead of target, with 145 tonnes of
copper concentrate produced in December - 83% above the targeted monthly production,” Mr Rothery
said.
Average concentrate grade achieved for December was 24.5%, with an average recovery rate of
89%. Recovery rates are expected to further improve as mill parameters are optimised.
The concentrate is being delivered to HCL’s Moubhandar Smelter, located five kilometres from the
Surda Mine. The Smelter has annual capacity of 18,000 tonnes of copper per annum. By June 2008,
it is expected the Surda project will deliver approximately 25% of Moubhandar smelter capacity, with
IRL ultimately aiming to increase this to 50%.
Mr Rothery said IRL was continuing its planned production ramp up with substantial improvements in
processing capacity underway.
“We are continuing refurbishment and improvement of the mine and milling infrastructure to boost
capacity, and have just commissioned the second ball mill which will increase total mill capacity to
1,200 tonnes per day,” Mr Rothery said.
IRL has set a January production target of 10,000 tonnes of ore, before gradually increasing
production with new equipment and processes to 40,000 tonnes per month by mid-2008.