Indo Mines Acquires Iron Sands Projects in Halmahera
Theindonesiatoday.com - Indo Mines Limited has signed a memorandum of understanding with PT Berat Anugerah Tama Sejati (BATS) that has access to a number of iron sands holdings and other mineral projects in the east of Indonesia, particularly in the Halmahera region.
"The acquisition of additional iron sands projects will expedite the company's strategy to become the supplier of choice to the growing Indonesia and Asian steel and metals industry," Martin Hacon, managing director and CEO of Indo Mines Ltd said.
Indo Mines will seek to develop the project in Halmahera in parallel with its Yogyakarta iron project.
Prior to signing the MoU, Indo Mines completed an initial field evaluation program of an area prospective for iron sands in Halmahera and based on this initial work will seek to complete a more detailed evaluation of the geology, environmental, and socialization aspects of the prospective area. (Theindonesiatoday.com)
