Gulf appoints XRAM as contractor of Kupang smelting project
Monday, May 1 2017 - 05:53 AM WIB
ASX-listed Gulf Manganese Corporation Limited announced Monday it has appointed XRAM Technologies Pty Ltd as the EPCM contractor, to deliver the Kupang Smelting Project located in West Timor Regency, East Nusa Tenggara Province.
The EPCM contract value is US$14.5 million (approximately A$ 19.5 million) for the construction of the initial two smelters, Gulf said in a statement.
An overview of the associated costs has been itemized below:
? Earthworks, geotechnics and civils at Bolok (A$1.5 million)
? Structural works at Bolok (A$5.2m)
? Purchase, refurbish & relocate two smelters from South Africa to Bolok (A$3.2m)
? Engineering works to install smelters (A$3.4m)
? Contract and company costs through construction (A$5.6m)
? Commissioning costs and initial supplies and materials (A$1.5m)
? Corporate and other costs (A$ 1.4m)
Gulf said XRAM has been working closely with the company on the development of the Kupang Project to date, providing engineering and pyrometallurgical support. The EPCM
contract will commence upon completion of the above mentioned capital raising.
Gulf said another key development achieved during the quarter ending March was the securing the company?s first two ferromanganese smelting furnaces for the Kupang Smelting Hub Project.
A deposit of USD$250,000 was paid to South African-based Transalloys Pty Ltd to secure the furnaces, with the funding of this deposit was made through a short-term loan of A$350,000 received from Tanah Capital Pte Ltd.
Importantly, the deposit to Transalloys allows the company to undertake the stripping and refurbishing of the smelting furnaces prior to them being shipped to the Kupang Project site, Gulf said.
Editing by Reiner Simanjuntak