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Resurgere Mines & Minerals India Ltd. Company History and Annual Growth Details

Our Company was incorporated by Captain Ravi Dutta and family (Erstwhile Promoters)
as a private limited company under the name of 'Exfin Shipping (India) Private Limited'
on March 24, 1987 under the Companies Act, 1956 to take over the partnership business
carried in the name of Exfin Shipping Consultants. Our Company was carrying on the
business of forwarding and transporting merchandise across land, sea and air.
Subsequently, pursuant to a special resolution of the shareholders of our Company at an
Extraordinary General Meeting held on October 24, 1996, our Company became a public
limited company. A fresh certificate of incorporation consequent upon the change of
name was granted on January 27, 1997 by the Registrar of Companies, National Capital
Territory of Delhi and Haryana in the name of 'Exfin Shipping (India) Limited.

In the year 2003, the management and ownership of our Company was taken over from
Captain Ravi Dutta by Mr. Subhash Sharma, our current CMD and CEO, who started the
business of dealing in iron ore products. After the change in management, initially our
Company was engaged in merchant export of Iron ore products and International freight
movement activities.Our Company is presently engaged in the business of extraction and
processing of Iron Ore products i.e. Lump Ore, Size Ore, Calibrated Lump Ore (CLO) and
iron ore fines. The name of our Company was further changed from 'Exfin Shipping (India)
Limited.' to 'Resurgere Mines & Minerals India Limited' pursuant to a special resolution of
the shareholders of our Company at an Extraordinary General Meeting held on December
26, 2006. The certificate of incorporation to reflect the new name was issued on January
5, 2007 by the RoC. On October 17, 2007 our Company acquired all the shares in WMPL
which consequently became our who lly owned subsidiary. WMPL holds an interest of 60%
in the partnership firm Shri Warana Minerals, which currently holds a mining lease with
respect to bauxite mines situated at Yelwan Jugai in Maharashtra. Our Company proposes
to venture into the business of bauxite mining and processing through Shri Warana Minerals,
in the near future.

Major Events

Year Events

1987 - Our Company was originally incorporated by Captain Ravi Dutta under the name Exfin
Shipping (India) Private Limited.

1996 - Our Company converted itself into a Public Limited Company and the name of our
Company was changed to Exfin Shipping (India) Limited.

2003 - Our Company was taken over by Mr. Subhash Sharma and his family, who started the
business of dealing in iron ore.

- Our Company was granted the certificate for Import & Export from the Director General
of Foreign Trade, New Delhi.

- Our Company commenced merchant export of Iron Ore fine to China.

2004 - Our Company acquired long term extraction rights over two iron ore mines located in
Nuagaon and Maharajapur in Orissa.

- Our Company was awarded a certificate of recognition from the Ministry of Commerce,
GoI as a Star Trading Export House.

2005 - Our Company commenced the extraction of iron ore and domestic sales of lump/size iron
ore from the Nuagaon and Maharajapur iron ore mines in Orissa.

- Our Company also commenced the domestic sales of CLO from Maharajapur iron ore
mine in Orissa.

- Our Company was awarded a certificate of recognition from the Federation of Indian
Export Organizations.

2006 - Our Company was awarded an ISO Certificate from the United Registrar of Systems
Limited, UKAS

- The name of Our Company was changed to Resurgere Mines & Minerals India Limited
to reflect the main business activities of our Company.

2007 - Our Company installed crushing plant at Nuagaon iron ore mine for the manufacturing
of CLO.

- Our turnover from extraction, processing and sale of iron ore crossed Rs. 1,600 millions

- Our Company obtained extraction rights over iron ore mine in Jharkhand.

- Our Company acquired 60% stake in bauxite mine through its wholly owned subsidiary

- Our Company received private equity investment from Merrill Lynch International and
other HNIs

- Our Company entered into long term purchase contract for purchase of iron ore fines for
the purpose of export to China

- Our Company has obtained No Objection Certificate from competent authority to invest
under the Wagon Investment Scheme of the Indian Railways

- Our Company got letter from Industries Energy & Labour Department, Maharashtra
stating that our application for mining lease for Banda Mines is under active


-Resurgere Mines & Minerals India Ltd proposes to enter the capital market with a public issue of 4,450,000 equity shares of Rs10 each through 100% book building process. The issue will open on August 11, 2008 and will close on 13th August 2008. The price band for the issue has been fixed at Rs263 to Rs272 per share.