SMRU plans to build manganese smelter
Saturday, June 23 2012 - 02:50 AM WIB
Manganese producer, PT SMR Utama Tbk (SMRU) plans to invest between US$8 million and $10 million to build a manganese smelter with an expected capacity of 6,000 tons a month.
?We are still assessing the source of funds (for the smelter facility),? SMRU director Adi Wibowo said as quoted by Kontan newspaper, adding that the company was still waiting for a permit from the Energy and Mineral Resources Ministry to build the smelter.
He said that the construction of the plant was expected to be completed in 2014.
SMRU also plans to acquire new concessions to meet the company's plan to double production from 29,026 tons last year.
The company sold its manganese at average price of Rp 2.4 million per ton in 2011.(*)