Abstract: A water in oil emulsion explosive composition containing inorganic nitrate and the process for its preparation are disclosed. The composition is an explosive mixture which consists of an aqueous inorganic oxidizer salt solution as disperse phase, residual oil and additives as continuous phase, emulsion foamer as occluded bubble producing material, and span-80 as emulsifier. By adjusting the pH of disperse phase and emulsion foamer, the foaming process at elevated temperature is achieved. it is an industrial explosive and has lower production cost, excellent stability, good moisture resistance and low toxicity, and has a storage life longer than 10 months.