Indo Mines Limited (ASX - All Markets: IDO)


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Business Description
Indo Mines Limited is engaged in mineral exploration and development activities. The Company operates in three segments: Indonesia-Iron Sands, Indonesia-Coal and Australia-Corporate. The Company’s Jogjakarta Iron Project, is located approximately 30 kilometers from the city of Jogjakarta, Indonesia. During the fiscal year ended June 30, 2011, the Company commenced production at the Mangkok Coal Project, located in the coal producing region of South Kalimantan. As of September 30, 2011, the projects, where the Company had an interest included, 70% in Jogjakarta, Indonesia; 100% in Chinguela, Peru and, 30% in Nangali, Peru. The Company manufactures the iron ingots from its Indonesian iron sand concentrate in Jogjakarta using the Outotec AusIron smelting process.