Indo Mines to Complete Pilot Project
(Indo Mines Rampungkan Pabrik Percontohan)
Rudi Ariffianto/Bisnis Indonesia, Monday, May 05, 2008
Indo Mines Ltd. has completed the development of an iron ore processing pilot project in Kulon Progo, Yogyakarta. The plant will produce 50 tons of concentrate sample, before developing the plant into a large scaled operation.
Indo Mines is building a plant with a capacity of 10 tons per day to confirm design parametre from existing lab. process testing. The iron processing plant will ultimately have a capacity 1 million tons per year.
The first plant is scheduled for completion in 2010.
Managing Director Phil Welten said the concentrate will be sent to Germany for testing. The testing results would constitute the feasibility study result.
Indo Mines plans to expand its mining area by three to five folds to increase iron ore production.
The company is working with PT Jogjakarta Mangasa Mining (JMM), the CoW holder of the area. Investment on the project is estimated to reach US$600 million with Indo Mines controlling 70% or the project and JMM with the rest.
Through its subsidiary, Indo Energy Pty Ltd, Indo Mines is currently securing coal and gas supply from a number of companies.
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