Indo Mining commits Rp 2t as investment through 2016
Thursday, February 16 2012 - 03:51 AM WIB
?We have obtained the Mining Business License (IUP) to develop our concession since 2010. Now we plan to spend up to Rp 2 trillion for the procurement of production facilities and for the development of a refinery plant and a special port,? President Director Lim Chong San said Wednesday as reported by Bisnis Indonesia.
The company is a joint venture of Hong Kong Hani Group and Siberian Mining Group. Chong San added that the firm has so far brought in 25 production machinery units with each having the production capacity of 3,500 tons a day. ?That means, if everything has been properly installed, total production capacity could reach 20,000 tons per day, for both iron sand placer and iron concentrates.?
The firm aims to provide high-quality iron concentrates at a low production cost to export to medium-size steel-makers in Asia. At its early stage of production, however, it will sell low concentration unprocessed iron sand. The establishment of the processing plants aims to filter the iron sands in order to enhance the concentration and quality of its final product.(*)