Welcome
Indo Mines Limited (ASX: IDO) is an Indonesian-focused mining and metals company committed to developing projects to provide steel-making materials to the burgeoning Indonesian steel industry and wider Asian markets. 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. In mid-2011 a bankable feasibility study examining the development of a 2 million tonne a year iron concentrate operation will be completed with production at this rate targeted from mid-2012. Trial mining of commercial volumes of iron concentrate will begin by June this year. In parallel, Indo Mines is also studying the prospect of producing pig iron from the Jogjakarta Project in later years. The Jogjakarta Project will be one of the lowest decile cost producers of iron concentrate and pig iron. In addition to its high-quality asset base, Indo Mines has one of the strongest boards of any listed, Australian junior mining company. Chairman Chris Catlow was the founding CFO of Fortescue Metals Group, Moly Mines CEO Derek Fisher and Murchison Metals executive chairman Paul Kopejtka both serve as non-executive directors. Indo Mines CEO Martin Hacon spent more than 20 years with New Zealand Steel where he commissioned the iron and steelmaking facilities and was responsible for the iron sands mining and steel manufacturing business. The company has a supportive shareholder base which includes institutional investors from the US, Europe and Australia along with strategic investor Rockcheck Steel.