Kupang Resources acquires additional concession in RI

By Ruli Setiawan

ASX-listed Kupang Resources Limited recently stated it has entered into a binding term sheet to acquire additional land in the Belu District, on the island of Timor in RI.

Pursuant to the acquisition, the company will acquire 95 percent of the issued share capital of a local Indonesian company, which is the legal and beneficial owner of a 926 ha area located in the Belu District of Timor and a granted Production IUP license. The Land is located approximately 175 km northeast of the Kupang Joint Venture?s current land holding in the district of Kupang.

"The acquisition will add further depth to the company?s land holdings in Kupang (via its interest in the Kupang Joint Venture) with the granted Production Licence a key step to the commencement of manganese exports from the JV?s land position. The permit is a crucial step towards production, as Indonesian law requires such permits to be in place before exports can commence," the company said.

The company further stated that manganese mineralisation is principally found in both the Bobonaro Complex and Ofu Formation. Within the Land area, manganese generally occurs as sedimentary sub-units or sedimentary intercalations in carbonate sequences with scaly clay as the matrix. The manganese has been exploited by artisanal miners previously and occurs close to the surface. The manganese occurrences in the district contain high grades of manganese with low levels of contaminants such as iron, aluminium and phosphorous.

Editing by Er Audy Zandri