Coziron sees W. Sumatra iron sands project to start mid-2009

Australian mining firm Coziron Resources reported on Thursday that its Agam Iron Sands project in West Sumatra would start production mid-2009.

The company said the mine would initially produce 30,000 tonnes per month with initial mine life expected to last for 8 years.

The company said it had received strong indicative production offtake offers from a number of Chinese group and expected to sign off specific arrangement at the earliest opportunity.

Coziron will be looking to significantly expands its iron sands activities in the adjacent areas and increase production schedules once the initial target is achieved and operations is running smoothly,? the company said.

The company is offering right issue to raise A$2.6 million, $1.6 million of which, will be used to develop mining and production facilities. (alex)