Castile Resources Limited has been chosen to join the Australian Trade and Investment Commission’s (Austrade) Business Delegation of Australian Critical Minerals Producers and Developers to India.
The Australian India Business Exchange (AIBX), the Australian Government and Austrade’s flagship trade and investment program for India, will host the trade mission in November 2023. The program intends to promote Australia-India bilateral trade, investment relationships, and commercial outcomes.
The Critical Minerals Business Delegation to India aims to foster direct interaction between Australian producers and developers with Indian investors, off-takers, and end-users.
Castile’s flagship Rover 1 Iron Oxide Copper Gold (IOCG) Project has been included in Austrade’s 2022 Critical Minerals Prospectus due to its outstanding Rover 1 Pre-Feasibility Study results. The project will produce 99% copper metal and 99% cobalt, as well as gold and a 96.5% magnetite product for coal cleansing.
According to the company, its inclusion in the prospectus has piqued the interest of both domestic and foreign critical mineral end users and financiers. The company is seeking to capitalise on the significant opportunities in the domestic and international market for medium to large-scale critical minerals consumers.
“Castile’s strategy to produce downstream critical minerals in Australia has been strongly endorsed by Austrade and the Federal Government. The strategy has also proven to be extremely attractive to international end users of these products. India is a fantastic opportunity for us given their requirements for reliable supply lines of copper and cobalt. In addition, magnetite products for coal cleansing have previously been exported from Tennant Creek to India making it an obvious market for our magnetite product as well,” Castile Managing Director Mark Hepburn said.
The AIBX Business Delegation will tour major Indian diversified industrial conglomerates in Mumbai, Hyderabad, and Bengaluru for site visits and direct investment dialogues.
