Thursday, 8 September 2011

Astra Mining becomes major owner of T-Steel patented technology

Astra Mining, an unlisted public Australian diversified mining company, has boosted its shareholding in Astra Steelworks by 15%, resulting in 45% ownership of the T-Steel Intellectual Property.
The company previously owned a 30% stake in T-Steel. Astra is now the major owner of the patented technology used to manufacture and develop T-Steel, which has been proven to substantially reduce the cost of production, and to significantly strengthen produced steel.

The increase, obtained through a share transfer of Astra Steelworks Ordinary Shares, has occurred between BPS International Pty Ltd and Astra Mining Ltd.

Astra Mining maintains full operational and management control of the T-Steel technology.

Dr Jaydeep Biswas, Astra Mining’s CEO, said “the T-Steel technology has been assessed through numerous independent reports, and the dominant opinion is that this has the potential to be Astra Mining’s largest and most profitable project.”

The company estimates that the project of global commercialisation of T-Steel technology has an IP valuation of EUR4.47 billion (A$6.3bn) in terms of NPV, assuming that the level of risk is in line with industry average.

Astra said this valuation has been confirmed by one of the top four international accounting firms and values the company's 45% IP ownership stake at EUR2.01bn (A$2.84bn).
Offers for T-Steel have been made by international steel companies seeking new light, durable materials.

Astra Mining’s global portfolio includes gold and copper interests in Southeast Asia, coal mines in Africa, iron ore in India, and the production of the high-strength T-Steel technology in Hungary.

Astra Mining has also confirmed its plans to list on the Frankfurt Stock Exchange in early October.

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