Indo Mines to remain focus on pig iron business
Wednesday, April 3 2013 - 05:53 AM WIB
ASX-listed Indo Mines Limited reported on Wednesday that the company would focus on achieving target to be Indonesia?s number ore producer of pig iron and associated products from iron sand.
It said that the project will be implemented in phases with Stage 1 targeting 500.000 tons of iron concentrate production capacity in the first half of 2014 climbing to the required 2 million tons capacity by the latter part of 2015.
The company said that this renewed focus and emphasis will lead to a significant increase in the company?s activities relating to full scale Direct Reduced Iron (DRI) Metallurgical testing over the balance of the year.
It said that the tests will include the coal gasification of local Indonesian coal and associated iron sand reduction and smelting testwork.
According to the company, the key component to achieving successful implementation of the pig iron project is the simultaneous development of required infrastructure e.g.: electric power generating capacity, port development, air separation plant, slag handling and processing.
"The Company is currently in discussion with potential partners and reviewing the project management and Integration structure," it said.
The pig iron plant and associated infrastructure is expected to commence operations in the first quarter of 2017.
Editing by Adianto P. Simamora