Monday, June 27th, 2011 - Astra Resources
Adelaide, Australia – 27 June 2011: Astra Mining, an Australian diversified mining company, has been granted an exploration license through its Nigeria subsidiary Bingi Commodities Nig. Ltd.

The process is the first step towards a full mining license to carry out work within the Ankpa local government area in the central Nigerian state of Kogi.

Astra CEO Dr Jaydeep Biswas says a works program will be carried out by Bingi Commodities to explore the economic viability of coal and associated minerals.

“Nigerian coal is of excellent quality by international standards and we will explore and evaluate the coal potential mineralization and viability within the Manejo and Odele communities in the Ika district,” Dr Biswas says.

“The total area of exploration is about 46.2 square kilometres
“While this is very preliminary exploration we are excited to be able to have the opportunity to assess the potential of the mineral rich state.”

Astra recently formed Bingi Commodities as a subsidiary of a joint venture between itself and Tirogo Nig. Ltd, which is part owned by the founder and Chairman of the Australia-Nigeria Council, Ade Kukoyi.

Mr Kukoyi is a highly regarded Nigerian national who established the Council to encourage and promote trade and economic opportunities between the two countries.

The joint venture formed a Singapore registered company Muyiwa Pty Ltd (the owner of Bingi Commodities) to take advantage of the favourable tax structure and treaty in place between Singapore and Nigeria.

Bingi Commodities is also the holder of an export licence in respect to mining related products.

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 a new high-strength 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]

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Bruce Nelson

P: 0402 823 343
W: www.astramining.com/

Keywords

Astra Mining, Nigerian Subsidiary, Coal, Joint Venture

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