Aussie firm seeks to sell Kalimantan zircon mine
Saturday, August 1 2009 - 02:40 AM WIB
Australian firm Matilda Zircon Limited is in the process of selling its Central Kalimantan zircon mining due to financial problems.
?To this end Matilda has been negotiating to sell PT Olympia Resources Indonesia and during the past quarter the Sampit plant has been made available for a potential purchaser to carry out an operating trial as part of a due diligence process. This trial was ongoing at the end of the quarter,? the company said in a report released Friday.
During the quarter Matilda operated the Sampit plant for 104 hours on retreat of stockpiles to produce 38.4 tonnes of ilmenite and 9.6 tonnes of leucoxene.
Matilda sold 70 tonnes of zircon in June.
At the end of the second quarter, 23 tonnes of zircon remained in stock at Sampit along with 9.6 tonnes of leucoxene and 168 tonnes of ilmenite, it said. (denny)