Gulf Manganese Corporation (ASX:GMC) through its subsidiary PT Gulf Mangan Grup, is constructing the first ferromanganese (FeMn) smelting hub in Timor, Indonesia.
to produce and sell low carbon ferromanganese alloy. Once fully operational, the Kupang Smelting Hub will produce up to 155,000 tpa of manganese alloy, directly supplying high-demand Asian markets.
Upon completion, at least 8 furnaces will be in operation, targeting the production of premium quality 82%+ manganese alloy resulting from the unique qualities of Indonesian high-grade, low impurity manganese ore.
Plans & Latest Developments:
Gulf has secured A$15 million funding through Indonesian-based diversified investment group PT Jayatama Tekno Sejahtera (“PT JTS”). The securing of this funding package enables Gulf to complete the construction and commissioning of the first two smelters at the Company’s Kupang Smelting Hub Facility in West Timor. Gulf anticipates commencing manganese production by mid-2018, at which point the Company expects to be initially producing approximately 30,000 tonnes per annum of premium quality ferromanganese alloy.
Why should investors invest in you?
Gulf is the only ASX-listed company with exposure to Indonesia’s premium manganese ore deposits and is fully funded through to production. The Kupang Smelting Hub is strategically located adjacent to the government owned Kupang Power Station, 4km from the Tenau Port and ensconced amongst the highest-grade manganese deposits in the world. Gulf is also backed by PT JTS, whose Chairman and CEO is Bpk. Fofo Sariaatmadja, a highly-regarded Indonesian business identity, who is currently the Commissioner at the number one television company in Indonesia.
Stock Exchange Listing:
Regions of Operation:
Australia | Timor | Indonesia
Board of Directors:
- Craig Munro – Chairman
- Hamish Bohannan – Managing Director & Chief Executive Officer
- Andrew Wilson – Non-Executive Director