Gulfs Mines ready to export its manganese
Wednesday, April 17 2013 - 01:55 PM WIB
ASX-listed Gulf Mines Limited (Gulf) recently announced on Wednesday that the Indonesian manganese group Asia Minerals Corporation (AMC) plans to ship its first cargo of high grade 52% manganese ore from West Timor during May.
Gulf previously advised on 12 March 2013 it would acquire just under a 20% interest in AMC, a group who are in the process of developing a fully integrated manganese operation.
"West Timor has amongst the world?s highest commercial grades of up to 56% manganese content, far superior to major suppliers with an average of 46% - 48%," the company said.
"Following a lengthy and exhaustive Government process AMC through its 90% owned Indonesia subsidiary PT Asia Mangan Grup (Asia Mangan) was recently issued with the first manganese Trading and Exporting Licence," it added.
With the manganese shipment in May, AMC will become the first group to export bulk manganese under the new export requirements.
The cargo of 10.000 tons will be the first of AMG?s Government approved quota of 160000 tons for 2013/2014.
Editing by Er Audy Zandri