PT MMI to invest $30 million in iron ore mine in S.Sulawesi
Tuesday, May 9 2006 - 02:56 AM WIB
Privately-owned PT Merdeka Mineral Indonesia (PT MMI) will invest US$30 million in an iron ore mine in Bonta Cani village, Bone regency in South Sulawesi, the Harian Ekonomi Neraca newspaper reported in its Tuesday edition.
PT MMI?s communications manager Frianto Danusugondho said in Makassar that his company had found huge iron ore deposits in that area after conducting a survey for one year. The deposits are concentrated in an area of 1,500 hectares.
?The exploitation (of iron ore) is expected to begin at the most by end of 2006,? Frianto said.
He further said that PT MMI will soon recruit around 2,000 local workers and open a representative office in Bone. (*)