Diversified mining company Astra Resources PLC which is the UK parent company of Astra Mining has provided an update for investors of the history of the production and commercial use of its innovative T-Steel product.

T- Steel is a revolutionary technology that enables existing steel factories to produce steel with improved physical characteristics such as higher tensile strength, better machine ability and higher fatigue limits at a lower cost.

Dr Jaydeep Biswas CEO of Astra said the development of T-Steel dates back to the late 1970’s where the applications were entrusted to a number of senior metallurgists and engineers in the then DAM Steel Works in Hungary.

He said that “During initial development which was carried out on a ‘no cost spared’ basis, the general directive was that the quality of the steel had to be equal to or better than what was manufactured in the United States and Germany.

He added that “Astra, through its subsidiary Astra Steelworks, owns the Intellectual Property pertaining to this technology and a number of the experts involved in the original research and development.”

Mr Silvana De Cianni MD of Astra managing said that the various applications of the range of steels span a gamut of industries where improved mechanical properties, such as hardness and longer life cycle are constantly strived for.

He said that “The industrial applications include, but are not limited to the production of modern train running gear, steam turbine components, shipbuilding, the automobile industry and high demand engine components.”

He added that “The mechanical properties of these steels are cumulatively enhanced by implementing the T-Steel technology which involves exactly defined parameters ancillary operations and alloying processes which are used during the manufacturing process.”

Mr De Cianni added “High demand and high stress industries, where resistance against fatigue and dynamic demand are essential, are areas where T-Steel will have immediate effect.

He said that “One of the many advantages to implementing this technology is that existing factories can produce the higher quality T-Steels without having to spend excessive amounts of money upgrading their equipment.

He added that “A particular type of steel can also be improved to such an extent that it can easily move up into the next special category without a huge increase in the manufacturing cost and thus be sold into a premium market with a premium price tag.”

Astra recently increased its shareholding in the technology to 45% ownership of the T-Steel Intellectual Property. The valuation model estimates that the project of global commercialisation of T-Steel technology has an NPV of GBP 4.47 billion assuming that the risk level of the project is in line with the industry average.

Astra Resources 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.

(Sourced from www.proactiveinvestors.com.au)