Thursday, July 14th, 2011 - Astra Mining
Adelaide, Australia – 14 July 2011: Astra Mining, an Australian diversified mining company, says its operations will be largely unaffected by the carbon tax announced by the federal government on Sunday.

Astra CEO Dr Jaydeep Biswas says because of the company’s focus in developing countries and its CO2 reduction technology for its revolutionary steel product, the company could even stand to benefit from the introduction of the tax in the long-term.

“While the carbon tax will have a direct impact on the mining sector locally, most of our mining projects are based in countries where carbon tax is a lower burden,” Dr Biswas says.

“Our coking and thermal coal export projects in Australia will be used for steel mills overseas to produce our revolutionary steel product, T-Steel, so even though we will have a carbon burden here we can potentially offset this through this innovative production technology.

“We all agree for the need to reduce our carbon footprint, however Astra believes the answer lays in developing new technologies such as T-Steel rather than a sledgehammer approach like the introduction of a new tax.”

Astra’s T-Steel technology is significantly stronger than regular steel and provides vast production, operational and environmental benefits.

The basic product, which includes the use of unique alloy based formulas invented over a 30 year period in Hungary, is based on a process which can modify the metallurgical properties of steel at a molecular level. Astra has taken the opportunity with the devolution of the Eastern bloc countries to acquire the technology and roll it out globally.

“T-Steel can be produced by existing steel mills with little or no retrofitting needed, however this can only be done if the mills have access to the T-Steel technology and the correct steel plant operation conditions,” Dr. Biswas says.
A recent independent verification of the steel’s unique properties was delivered last month from one of the University of Miskolc’s leading metallurgical engineers, Professor Emeritus Dr. Farkas Otto.

The expert opinion on a study into the preparation of the production of T-Steel confirms it has better qualities compared to traditional steels and also confirms the CO2 emission in its manufacture can be up to two times less than with traditional steel making technologies, reducing a manufacturing plants carbon footprint.

Astra’s managing director, Silvana De Cianni, says the company is also pursuing a proactive policy to investigate renewable and green energy as part of its global portfolio.

“At our recent EGM the shareholders approved Astra Mining to expand its current business activities to include an environmental and renewable energy focus,” Ms De Cianni says.

“We are an innovative resources company and not investigating green energy opportunities as part of our business plan would be remiss of us to our shareholders and the long-term plans of Astra.

“We are currently working on a renewable energy policy for the company and will shortly announce this along with a number of other CO2 reduction projects driven by technology advancements.”

Astra Mining’s global portfolio includes gold and tin interests in south east Asia and southern India, coal mines in Australia and Africa, iron ore in India and Africa, and the production of the high-strength T-Steel technology.

Astra has also confirmed its plans to list on the Frankfurt Stock Exchange before the end of August.

For more information visit www.astramining.com or email [email protected]