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Gold/Mining/Energy : Rare Earth Elements and Exotic Metals

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To: LoneClone who wrote (15916)5/15/2019 1:10:40 PM
From: LoneClone  Read Replies (1) of 16357
 
Gulf Manganese's DSO operation gets final approval

miningweekly.com
15th May 2019

By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed Gulf Manganese has received final approval from the Indonesian Ministry of Trade for its direct shipping ore (DSO) licence.

The approval from the Ministry of Trade follows earlier approval by the Ministry of Energy and Mineral Resources, and marks the final ratification for the DSO operation.

The licence would allow Gulf to export up to 103 162 t/y of high-grade manganese ore from Indonesia, with Gulf saying on Wednesday that the company was working with a number of potential ore suppliers with a view to generating revenue in the near future.

“Receiving DSO approval marks a major milestone for Gulf,” said MD Hamish Bohannan.

Gulf, through its subsidiary PT Gulf Mangan Grup, is constructing the first ferromanganese smelting hub in Timor. The Kupang smelting hub will contain at least eight furnaces built in stages over a five-year period. At full production, the first two furnaces will produce some 320 000 t/y of manganese ore to deliver some 155 000 t/y of premium-quality ferromanganese alloy.

Gulf’s share trading remained suspended on Wednesday pending the announcement regarding a capital raise by the company.
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