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A$0.002 0.0  0.0%

Last Trade - 15/08/16

Sector
Basic Materials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £6.32m
Position in Universe th / 1898

BRIEF-India Resources updates on agreement with Hindustan Copper

Tue 7th June, 2016 11:30pm
June 7 (Reuters) - India Resources Ltd  IRL.AX : 
 * Agreement with Hindustan Copper  IRL.AX  
 * Says ongoing detailed discussions have been held with Hindustan Copper 
   Limited 
 * Discussions have resulted in a provisional agreement between the parties 
 * "Potential suspension of operations at the surda mine and the mosaboni plant 
   is now deemed unnecessary" 
 * HCL agreed to pay approximately $1.4 million against monthly supply of copper 
   in concentrate for months of April 2016 and May 2016 
 * IRL will withdraw its arbitration notice 
 * Transportation of copper concentrate to HCL and timely monthly payments to 
   IRL will resume promptly 
 * Proposal to settle long disputed claims between parties has been forwarded by 
   HCL board to independent external monitor 
 * IRL will do its utmost to continue to ramp up and maximise copper production 
   at the Surda mine and Mosaboni concentrator 
 
* Source text for Eikon  ID:nASX7hdLDZ  
 
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