Abstract: A water-in-oil emulsion explosive composition comprising: a discontinuous aqueous oxidizer-phase comprising dissolved therein an oxygen releasing salt component comprising ammonium nitrate; a continuous organic-phase comprising an organic fuel; and an emulsifying agent and characterized in that the oxygen-releasing salt component comprises at least one modifier selected from compounds of elements selected from the group consisting of aluminium, iron and silicon and wherein the oxidizer-phase comprises dissolved therein at least one polycarboxylate compound selected from polycarboxylic acids and salts thereof.