SYDNEY (Yosefardi) – Gulf Mines Limited have been advised by PT Asia Mangan Grup (AMG), a subsidiary of Asia Minerals Corporation Limited, that a second cargo of manganese has been shipped from its manganese project in West Timor as part of the company’s commitment toward satisfying AMG’s domestic market obligation (DMO).
Upon completion of the initial DMO, AMG is on target for its maiden export shipment to Korea during the second quarter.
Now, the Indonesian government has made clear the position of commodities permitted for export, PT Asia Mangan is currently the only authorised exporter of manganese as the company has commenced building a smelter facility in compliance with the Mining Law 2009 and Ministerial Regulation 1/2014.
Driven by the substantial urbanisation and industrialisation of the Chinese economy, Gulf will focus on coal and copper projects in Indonesia and copper in Australia in joint venture with Redbank Copper Limited and a joint operating agreement for cooper and uranium propects with Laramide Respources Limited.