WMN seeks partners for C. Sulawesi manganese project

By Romel S. Gurky

ASX-listed Western Mining Network Ldt (WMN) said Thursday it is currently in discussions with potential partners for its manganese production project in Toli Toli Regency, Central Sulawesi.

WMN holds a 51 percent interest in PT Genesis Berkat Utama, which is the sole owner of the Genesis project in Toli Toli. Genesis is currently one of a select group of manganese production licenses in Indonesia that currently is licensed for production, is on the clean and clear list and holds a clean and clear certificate issued by the government, the company said.

?A few planned smelters are in the pipeline for development in Indonesia. WMN believes that the Genesis tenement will be of strategic importance when these smelters begin operation in the coming years,? the company said in a statement.

Elsewhere, WMN also reiterated that it has completed the transaction to acquire an option to purchase up to 75 percent of PT Mekongga Sejahtera and a 40 percent interest in PT Eagle Rich Nusantara with an option to purchase up to 99 percent.

?This gives WMN access to the 98.04Ha Mekongga?s graphite Tenement in Tamboli, Kolaka, South East Sulawesi as well the potential graphite beneficiation and industrial estate establishments,? it said.

WMN shareholders approved the transaction during the Extraordinary General Meeting held on October 23, 2014.

Editing by Reiner Simanjuntak