Indo Mines to Commence Iron Concentrate Trial Production Next Year

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Wednesday, 15 December 2010 09:11

Theindonesiatoday.com - Indo Mines Limited commence production of commercial trial volumes of iron concentrate within a designated area of the Jogjakarta Iron Sands Project site.

"It is anticipated that operations will begin in the first half of 2011 targeting production of up to 250,000 tonnes of iron concentrate for sale to potential off-takers generating early cash, as well as providing feed material for additional pig iron smelting trials," Indo Mines told ASX this morning.

Indo Mines is undertaking a feasibility study to assess the potential of the Jogjakarta Iron Sands Project to support a 2 million tonne per year iron concentrate operation with first production from the expanded development scheduled for the December quarter 2012.

The company is currently in negotiations with a number of potential long-term customers to secure off-take arrangements in relation to both the trial phase and full scale production of iron concentrate.

The existing pilot plant will be used in conjunction with additional equipment to produce commercial volumes of concentrate for testing by potential customers.

Indo Mines Managing Director and CEO, Mr Martin Hacon, said “This is a significant step forward for the Company in realising our vision of being a raw material supplier of choice to the growing Indonesian and Asian metals industry. The production of commercial volumes of iron concentrate well ahead of our target is an indication of the excellent support we have had from our local Joint Venture partner and the local community. It also demonstrates the commitment of the new board, management team, and employees in realising the Company’s potential.” (Theindonesiatoday.com)

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