Project Brief Pasir Besi_yogya
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Project Information Brief May 2006
Yogyakarta Ironsands- Pig Iron Project
Project Information Brief May 2006
Introduction ¾ Indo Mines Ltd emerged from the former company Australian Kimberley Diamonds ( AKD ). AKD has been listed on the Australian Stock Exchange since December 1993 and has been involved in the exploration and development of mineral projects, in particular diamonds, since incorporation. ¾ AKD has a portfolio of high quality exploration prospects both in Australia and Peru. ¾ In Australia, AKD's assets include the King George and Seppelt Range diamond projects located in the North Kimberley of Western Australia, the Bird in Hand gold project located in the South Australia and the Wonarah phosphate project located in the Northern Territory. ¾ In Peru, AKD has 100% of the Chinguela gold project and 30% of the Nangali gold project. It also retains a 0.5% NSR in the El Molino copper gold project.
¾ Following a change of direction towards the development of mineral resource projects in Indonesia, in particular the development of the Yogyakarta Ironsands / Pig Iron Project, AKD Ltd was renamed Indo Mines Limited in March 2006.
Project Information Brief May 2006
Project Brief ¾ ¾
¾ ¾
¾
¾
Recently Indo Mines Ltd acquired the rights to earn a 70% interest in the Yogyakarta Ironsands - Pig Iron project in Indonesia, following the relevant approvals and due diligence. The Ironsands deposit was initially drilled by PT Aneka Tambang in the 1970's and early 1980's. On the basis of this drilling and subsequent test-work, feasibility studies completed by Lurgi and Davy McKee in 1985 reported a large ironsand deposit containing titano-ferrous magnetite over a 22 km by 1.5 km wide strip of coastal plain. The ironsands deposit at Yogyakarta will be used as the basis for the establishment of a pig iron making facility at Yogyakarta to provide feedstock for regional steel producers. The location of the beneficiation and pig iron plant at Kulon Progo will be in the Yogyakarta Province. This location is nominated due to its strategic position - close to raw material sources, the availability of infrastructure and other required utilities – power, water, rail and harbour Proposed initial capacity is 300,000 Tonne / year of Pig Iron. During the feasibility study options will be evaluated to increase pig iron production capacity produce and to produce additional ironsand concentrate for direct export sale. Apart from ironsand as its raw material, the project requires other supporting materials such as coal and limestone, all of which are available within close proximity in Indonesia.
Project Information Brief May 2006
Project Information Brief May 2006
Project Information Brief May 2006
Project Information Brief May 2006
Historical and Potential Ironsand Deposit Data ¾ Deposit: Titaniferrous magnetite sand deposit over 22km x 1.8km area; Historical data indicates an average 10m depth from surface; grading up to13 % Fe ¾ Exploration Target: + 300 Mt ironsand based on geological due diligence completed by McKay & Schnellman (a substantial non JORC Compliant resource was defined by Lurgi/ Davy McKee in 1985 based on +13,000 drill holes by Aneka Tambang in 1970’s)
¾ Potential Mine Life:The potential size of the deposit is expected to be well in excess of a 15 year mine life producing 300,000 tpa pig iron
Project Information Brief May 2006
Resource Definition Program ¾ Currently ¾ Completed geological due diligence ¾ Topogaphical Survey using Differential GPS being completed by Gajah Mada University ¾ Management of exploration program by expatriates Mackay & Schnellmann ¾ Drilling using 2 track mounted air core rigs is being completed by PT RB Drilling – Jakarta ¾ Laboratory XRF analysis underway with ALS in Perth
Project Information Brief May 2006
Resource Definition Program ( cont ) ¾ April to June 2006 ¾ Resource definition drilling program ¾ Topographical Survey ¾ Up to 16,000m of air core drilling ¾ Up to 1000 holes at 16 m average depth ¾ Initial drilling on a wide spaced 800m x 100m grid ¾ Infill drilling to follow in order to define deposit to a measured / indicated JORC standard
¾ July to August 2006 ¾ Complete JORC compliant Resource for minimum project life ( + 15 years ) ¾ Ore Resource calculation ¾ Geostatiscal analysis ¾ Mine Plan and Costing
Project Information Brief May 2006
Current as of May 20 – 5,000 m drilled
Project Information Brief May 2006
Anticipated Product Grades Ore % Fe up to13 TiO2 V2O5 SiO2 Al2O3 S P2O5
Concentrate % 58 to 60 7 to 9 0.5 to 0.6 1.2 to 1.4 3.3 to 3.5 0.03 to 0.05 0.24 to 0.26
Pig Iron % C Si P S Ti V Fe
1.5 to 2.5 0.5 max 0.1 max 0.05 max 0.05 max 0.02 max 94 min
Project Information Brief May 2006
Proposed Schedule * 2006 *
¾ March ¾ Commence resource definition drilling program including Topographical Survey and up to 16,000 m of air core drilling ¾ Initial drilling on a wide spaced 800m x 100m grid with Infill drilling to follow to define deposit to a measured/indicated JORC standard ¾ Approx. 10,000 samples for analysis
¾ July ¾ Complete JORC compliant Resource for minimum project life (+ 15 years )
including Ore Resource Calculation and Geostatistical Analysis ¾ Mine Plan and Costing ¾ Concentration, reduction and smelting testwork based on representative drilling sample by Outokumpu
¾ August ¾ Commence Bankable Feasibility
¾ September ¾ Finalisation of Offtake arrangements
Project Information Brief May 2006
Proposed Schedule ( cont ) ∗ 2007 ∗
¾ January ¾ Continue Bankable Feasibility Study ¾ Commence project finance arrangements ¾ Performance Guarantee Testwork ¾ June ¾ Completion Bankable Feasibility Study If BFS is positive the following schedule is anticipated for project execution
¾ July ¾ Commence Project Design
∗ 2008 ∗ ¾ August ¾ Commence Concentrate Production
∗ 2009 ∗ ¾ December ¾ Commence Pig Iron Production
Project Information Brief May 2006
Proposed Study Development Schedule Month
1 Exploration Program Drilling XRF Analysis Resource Estimate Mine Plan
Testwork Design Performance
Technical Study Design Estimation Infrastructure Report
2
3
4
5
6
7
8
9
10
11
12
Project Information Brief May 2006
Feasibility Study - Managed by Outokumpu ¾ Technical Study ¾ ¾ ¾ ¾
Resource Definition Mining Development Testwork Process Plant including Beneficiation / Multiple Hearth Furnace / Kiln Reduction and Ti & V slag removal ¾ Local infrastructure / fabrication / construction ¾ Environmental
¾ Commercial ¾ Project Capital and Operating Costs ¾ Develop financial model and project debt / equity arrangement
¾ Offtake Arrangements ¾ Negotiate product offtake with Indonesian Steel Producers and Others
Project Information Brief May 2006
Project Development Alternatives – Subject to Study ¾ Current base project – 300,000 tpa pig iron ¾ Alternatives ¾ Increase total pig iron production up to 0.5 to 1 Mtpa ¾ Increase Concentrator Size ~ 1.5 Mtpa plus 300 to 500,000 tpa pig iron for pig iron and concentrate sale ¾ Downstream expansion to Specialty Steels from liquid pig iron
Project Information Brief May 2006
Testwork Program - Managed by Outokumpu ¾ Currently ¾ Preliminary concentration testwork on winnowed surface sample completed by Outokumpu Technology Florida ¾ Confirms historical mineralogy and metallurgical properties ¾ Concentrate can be produced by Gravity and Low Intensity Magnetic Separation
¾ July 2006 ¾ Testwork based on representative drilling sample ¾ Concentration, reduction and smelting
¾ January 2007 ¾ Bulk sample testing for performance guarantees
Project Information Brief May 2006
Anticipated Process Flowsheet
0.33 Mtpa of Coal
5.5 Mtpa
Mining
Beneficiation ~3.0 Mtpa
MHF / SLRN Ironmaking Reduction 0.7 Mtpa 0.51 Mtpa 0.3 Mtpa
The technology proposed is similar to that successfully employed for 20 + years on an ironsands to steel operation in New Zealand
131 GwH Power
Yogyakarta Ironsands- Pig Iron Project
Project Information Brief May 2006
Introduction ¾ Indo Mines Ltd emerged from the former company Australian Kimberley Diamonds ( AKD ). AKD has been listed on the Australian Stock Exchange since December 1993 and has been involved in the exploration and development of mineral projects, in particular diamonds, since incorporation. ¾ AKD has a portfolio of high quality exploration prospects both in Australia and Peru. ¾ In Australia, AKD's assets include the King George and Seppelt Range diamond projects located in the North Kimberley of Western Australia, the Bird in Hand gold project located in the South Australia and the Wonarah phosphate project located in the Northern Territory. ¾ In Peru, AKD has 100% of the Chinguela gold project and 30% of the Nangali gold project. It also retains a 0.5% NSR in the El Molino copper gold project.
¾ Following a change of direction towards the development of mineral resource projects in Indonesia, in particular the development of the Yogyakarta Ironsands / Pig Iron Project, AKD Ltd was renamed Indo Mines Limited in March 2006.
Project Information Brief May 2006
Project Brief ¾ ¾
¾ ¾
¾
¾
Recently Indo Mines Ltd acquired the rights to earn a 70% interest in the Yogyakarta Ironsands - Pig Iron project in Indonesia, following the relevant approvals and due diligence. The Ironsands deposit was initially drilled by PT Aneka Tambang in the 1970's and early 1980's. On the basis of this drilling and subsequent test-work, feasibility studies completed by Lurgi and Davy McKee in 1985 reported a large ironsand deposit containing titano-ferrous magnetite over a 22 km by 1.5 km wide strip of coastal plain. The ironsands deposit at Yogyakarta will be used as the basis for the establishment of a pig iron making facility at Yogyakarta to provide feedstock for regional steel producers. The location of the beneficiation and pig iron plant at Kulon Progo will be in the Yogyakarta Province. This location is nominated due to its strategic position - close to raw material sources, the availability of infrastructure and other required utilities – power, water, rail and harbour Proposed initial capacity is 300,000 Tonne / year of Pig Iron. During the feasibility study options will be evaluated to increase pig iron production capacity produce and to produce additional ironsand concentrate for direct export sale. Apart from ironsand as its raw material, the project requires other supporting materials such as coal and limestone, all of which are available within close proximity in Indonesia.
Project Information Brief May 2006
Project Information Brief May 2006
Project Information Brief May 2006
Project Information Brief May 2006
Historical and Potential Ironsand Deposit Data ¾ Deposit: Titaniferrous magnetite sand deposit over 22km x 1.8km area; Historical data indicates an average 10m depth from surface; grading up to13 % Fe ¾ Exploration Target: + 300 Mt ironsand based on geological due diligence completed by McKay & Schnellman (a substantial non JORC Compliant resource was defined by Lurgi/ Davy McKee in 1985 based on +13,000 drill holes by Aneka Tambang in 1970’s)
¾ Potential Mine Life:The potential size of the deposit is expected to be well in excess of a 15 year mine life producing 300,000 tpa pig iron
Project Information Brief May 2006
Resource Definition Program ¾ Currently ¾ Completed geological due diligence ¾ Topogaphical Survey using Differential GPS being completed by Gajah Mada University ¾ Management of exploration program by expatriates Mackay & Schnellmann ¾ Drilling using 2 track mounted air core rigs is being completed by PT RB Drilling – Jakarta ¾ Laboratory XRF analysis underway with ALS in Perth
Project Information Brief May 2006
Resource Definition Program ( cont ) ¾ April to June 2006 ¾ Resource definition drilling program ¾ Topographical Survey ¾ Up to 16,000m of air core drilling ¾ Up to 1000 holes at 16 m average depth ¾ Initial drilling on a wide spaced 800m x 100m grid ¾ Infill drilling to follow in order to define deposit to a measured / indicated JORC standard
¾ July to August 2006 ¾ Complete JORC compliant Resource for minimum project life ( + 15 years ) ¾ Ore Resource calculation ¾ Geostatiscal analysis ¾ Mine Plan and Costing
Project Information Brief May 2006
Current as of May 20 – 5,000 m drilled
Project Information Brief May 2006
Anticipated Product Grades Ore % Fe up to13 TiO2 V2O5 SiO2 Al2O3 S P2O5
Concentrate % 58 to 60 7 to 9 0.5 to 0.6 1.2 to 1.4 3.3 to 3.5 0.03 to 0.05 0.24 to 0.26
Pig Iron % C Si P S Ti V Fe
1.5 to 2.5 0.5 max 0.1 max 0.05 max 0.05 max 0.02 max 94 min
Project Information Brief May 2006
Proposed Schedule * 2006 *
¾ March ¾ Commence resource definition drilling program including Topographical Survey and up to 16,000 m of air core drilling ¾ Initial drilling on a wide spaced 800m x 100m grid with Infill drilling to follow to define deposit to a measured/indicated JORC standard ¾ Approx. 10,000 samples for analysis
¾ July ¾ Complete JORC compliant Resource for minimum project life (+ 15 years )
including Ore Resource Calculation and Geostatistical Analysis ¾ Mine Plan and Costing ¾ Concentration, reduction and smelting testwork based on representative drilling sample by Outokumpu
¾ August ¾ Commence Bankable Feasibility
¾ September ¾ Finalisation of Offtake arrangements
Project Information Brief May 2006
Proposed Schedule ( cont ) ∗ 2007 ∗
¾ January ¾ Continue Bankable Feasibility Study ¾ Commence project finance arrangements ¾ Performance Guarantee Testwork ¾ June ¾ Completion Bankable Feasibility Study If BFS is positive the following schedule is anticipated for project execution
¾ July ¾ Commence Project Design
∗ 2008 ∗ ¾ August ¾ Commence Concentrate Production
∗ 2009 ∗ ¾ December ¾ Commence Pig Iron Production
Project Information Brief May 2006
Proposed Study Development Schedule Month
1 Exploration Program Drilling XRF Analysis Resource Estimate Mine Plan
Testwork Design Performance
Technical Study Design Estimation Infrastructure Report
2
3
4
5
6
7
8
9
10
11
12
Project Information Brief May 2006
Feasibility Study - Managed by Outokumpu ¾ Technical Study ¾ ¾ ¾ ¾
Resource Definition Mining Development Testwork Process Plant including Beneficiation / Multiple Hearth Furnace / Kiln Reduction and Ti & V slag removal ¾ Local infrastructure / fabrication / construction ¾ Environmental
¾ Commercial ¾ Project Capital and Operating Costs ¾ Develop financial model and project debt / equity arrangement
¾ Offtake Arrangements ¾ Negotiate product offtake with Indonesian Steel Producers and Others
Project Information Brief May 2006
Project Development Alternatives – Subject to Study ¾ Current base project – 300,000 tpa pig iron ¾ Alternatives ¾ Increase total pig iron production up to 0.5 to 1 Mtpa ¾ Increase Concentrator Size ~ 1.5 Mtpa plus 300 to 500,000 tpa pig iron for pig iron and concentrate sale ¾ Downstream expansion to Specialty Steels from liquid pig iron
Project Information Brief May 2006
Testwork Program - Managed by Outokumpu ¾ Currently ¾ Preliminary concentration testwork on winnowed surface sample completed by Outokumpu Technology Florida ¾ Confirms historical mineralogy and metallurgical properties ¾ Concentrate can be produced by Gravity and Low Intensity Magnetic Separation
¾ July 2006 ¾ Testwork based on representative drilling sample ¾ Concentration, reduction and smelting
¾ January 2007 ¾ Bulk sample testing for performance guarantees
Project Information Brief May 2006
Anticipated Process Flowsheet
0.33 Mtpa of Coal
5.5 Mtpa
Mining
Beneficiation ~3.0 Mtpa
MHF / SLRN Ironmaking Reduction 0.7 Mtpa 0.51 Mtpa 0.3 Mtpa
The technology proposed is similar to that successfully employed for 20 + years on an ironsands to steel operation in New Zealand
131 GwH Power
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