Asia Mangan ships second cargo of manganese
Tuesday, March 11 2014 - 07:48 AM WIB
ASX-listed Gulf Mines Limited announced on Tuesday that PT Asia Mangan Grup (AMG) has shipped a second cargo from its manganese project in West Timor as part of the company?s commitment towards satisfying AMG's Domestic Market Obligations (DMO).
AMG is a subsidiary of Asia Minerals Corporation Limited in which Gulf has a major shareholding.
Upon completion of the initial DMO, AMG is on target for its maiden export shipment to Korea during the second quarter.
?As previously announced, now that the Indonesian Government has made clear the position of commodities permitted for export, AMG is currently the only authorized exporter of manganese as the company has commenced building a smelter facility in compliance with the Mining Law 2009 and Ministerial Regulation 1/2014 on Mineral Added Value increase through Domestic Mineral Processing and Refining Activities,? the firm said in a statement.
Editing by Johannes Simbolon