Indo Mines Limited (Australian Stock Exchange: IDO)


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Business Description
Indo Mines Limited is Australia-based Company 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. The Company commenced production at the Mangkok Coal Project, located in the coal producing region of South Kalimantan.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. The Group has two reportable segments as described below, which are the Group’s strategic business unit, Indonesia- Iron Sands and Australia- Corporate.