Australian Indian Resources (AIR) is an unlisted public limited company based out of Perth, Australia. AIR was incorporated in 1994 by a group of Australian investors / shareholders who could foresee an opportunity to participate in the development of India’s mineral potential when the Indian government took a landmark decision to open up the mineral exploration sector for foreign investments. . AIR acquired 100% stake in Geomysore Services (India) Private Limited (GMSI), a mineral exploration company based out of Bangalore and started actively participating in exploration activities. Since then GMSI and and other subsidiary companies of AIR have been carrying out exploration for Gold, Base metals, Nickel, Platinum Group Elements (PGE) in various parts of India.
The subsidiary and group companies of AIR are:
- Geomysore Services (India) Pvt Ltd
- Premier Nickel Mines Pvt Ltd
- Trident Mineral Resources Pvt Ltd
- Marwar Mineral Exploration Pvt Ltd
- Premier Minerals Exploration Pvt Ltd
The mineral assets of AIR group can be broadly divided into gold and non-gold projects. AIR owns 28% in the gold and 80% in the non-gold projects.
AIR, through its subsidiary companies, has so far explored about 30,000 sq.km of highly prospective area in eight different states of India. The explored areas are mainly covered by Archaean and Proterozoic volcano-sedimentary belts, which are known to contain abundant precious mineral deposits. Systematic exploration by AIR group companies has led to significant discoveries of gold, base metal, nickel-PGE and magnetite iron ore deposits in these belts. Some of the key projects in the AIR’s portfolio include Jonnagiri gold project, Dhani-Bari copper-gold project, Kolar belt gold projects and Sadukonda magnetite iron ore project. AIR group companies have lodged Prospecting License (PL) and Mining Lease (ML) applications on these areas. Among them, a mining lease over Jonnagiri gold project and several PL’s over Kolar Belt have already been granted. One of the group companies, ie., GMSI, is currently carrying out feasibility study on Jonnagiri Gold Project in the state of Andhra Pradesh. AIR is set to become a junior to mid-tier gold producer in the next 2 to 3 years.
AIR has strong Indian and International partners who share the vision of building major precious metal mining company in India. These partners include Sun Mining and Exploration Investment Limited, Thriveni Earth Movers Pvt Ltd and Kolar Gold Limited, London.