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The deposit is similar to the iron sand deposits that have been mined and processed by Bluescope Steel in New Zealand over the last 30 years - it is anticipated that mining and down stream processing at Jogjakarta will be based on this same simple and proven technology Ownership Indo Mines earning 70% of Project, currently owns 30%

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Project Details: On 4 November 2008, Reuters reported that Indonesia had signed a $1.1 billion contract for an iron sand and pig iron mining project (1), the first mining contract to be awarded in the resources-rich country in a decade due to confusion over the mining law.

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