IMM to exploit iron sands concession

PT Indo Modern Mining (IMM) may spend US$ 150 million to exploit its iron sands mining concession in Lumajang regency in East Java.

Regent Sjahrosad Masdar was quoted by Bisnis Indonesia as saying that the mine may start production in 2011.

IMM has been given a 8,000-hectares concession by the regency administration. (*)