Astra Mining Ltd announced that it has signed a joint venture agreement with Capricorn Property Developments Pty Ltd, a company headed by Mr Paul Czislowski an experienced property developer who has previously headed projects throughout the Central Highlands Coal district.

This enables the company to begin the proposed development of the Rockhampton region, which focuses on the needs of the growing community and includes projects ranging from housing to commercial developments.

Mr Jaydeep Biswas CEO of Astra Mining Ltd said that “The joint venture between Astra Mining Ltd and Capricorn Property Developments Pty Ltd is an essential progression for the company in diversifying, yet consolidating itself, as a macro provider of mining related services. Astra Mining Ltd is adding a critical, additional income stream to its business activities by entering into the joint venture.”

Rockhampton, which is connected to the Australian mining hub of the Bowen Basin by rail, is ideally positioned to accommodate the fly in, fly out mining and mining services workforce. This link with the steadily growing mining community, and the increasing demand on the existing infrastructure, is expected to have a large influence on the housing and accommodation needs of the region in the medium term. Astra Mining Ltd, through its interest in the joint venture company Astra Capricorn Investments Pty Ltd, plan on capitalizing on this demand for housing by focusing on developments in locations that provide easy access to both the Bowen Basin and Gladstone.