Indo Mines seeking govt approval for Jogjakarta Iron project
Wednesday, August 1 2012 - 01:21 AM WIB
Australia-listed firm Indo Mines Limited reported that PT Jogja Magasa Iron (JMI) has submitted its application for construction approval in relation to the Jogjakarta Iron Project during the second quarter ended June 30.
The company has a 70 percent interest in the project, with the 30 percent joint venture partner, PT Jogja Magasa Mining, being a consortium of Indonesian business people including members of the Yogyakarta Sultanate.
?Whilst the application is being assessed by the relevant government, the company will continue with test work and studies to further refine the process recoveries and yields,? the company said.
The company said that the construction works at the Karangwuni Demonstration Plant were completed during the quarter.
The primary and secondary circuits were successfully commissioned and a stockpile of approximately 25,000 tons of primary concentrate is available for processing into finished product.
JMI continues to experience technical issues with the secondary circuit which has impacted upon the production of final concentrate but the results from the facility have confirmed the company?s ability to produce the targeted iron grade of 55% Fe.
Editing by Adianto P. Simamora