Indonesia Today: Sampoerna MIght Join Yogyakarta Iron Project
Theindonesiatoday.com – PT Sampoerna Strategic, part of Sampoerna Group, lines up with Mitsui and Tata Steel to become partner of Indo Mines Ltd in Yogyakarta iron project.
Director Bambang Sulistyo told Bisnis-Jateng.com, regional newswire of Bisnis Indonesia, that the company has intended to invest in PT Jogja Magasa Iron, subsidiary of Indo Mines Ltd.
He said the approach, so far, is still in early discussion stage before moving closer to the project due diligence.
As an update, Regency of Kulonprogo has approved JMI’s plan to establish its own port in the area to support the iron ore shipment. Regency’s Secretary, Budi Wibowo, told local newspaper Kedaulatan Rakyat that the port establishment will make the company’s transportation much easier, without necessarily disturbing fishermen’s boats at Tanjung Adikarta Port.
Meanwhile, the regency also has advised PT Angkasa Pura to use Temon District as the area for Kulonprogo International Airport instead of Panjatan District as it lies within JMI’s Working Area. (bintang@theindonesiatoday.com)
Latest News: Mitsui to Build Steel Plant in Indonesia
Theindonesiatoday.com – Mitsui Mining and Smelting plans to build iron and steel factory in Kulon Progo, Yogyakarta province.
“Governor Sri Sultan Hamengku Buwono X informed that Mitsui Mining will invest in Kulon Progo after PT Jogja Magasa Iron starts producing iron concentrates. Mitsui plans to process further the iron concentrate into steel,” said Budi Wibowo, secretary to the Kulon Progo Regency administration, as reported by Mediaindonesia.com Sunday (October 16).
PT Jogja Magasa Iron is a company controlled by ASX-listed Indo Mines Ltd. Indo Mines holds a Contract of Works to mine and process iron sands throughout Indonesia and operates a small, high calorific coal mine in South Kalimantan.
It is currently focusing its activities on its 70%-owned Jogjakarta Iron Project in southern Java where it has defined a 605 million tonne resource.
The staged development of the project is initially focussed on the production of 2 million tonne per annum of iron concentrate to provide early cash flow to the Company, whilst finalising the technical design of a 1 million tonne per annum pig iron plant with the large European technology provider Outotec. (Theindonesiatoday.com)
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