The strategy of Gulf (ASX:GMC) is to develop an ASEAN focused manganese alloy business based in Kupang, West Timor, taking advantage of the low operational and ore costs, combined with modest power costs (these being a combined 84% of total costs). Targeted production will be a premium quality 78% ferro manganese alloy resulting from the unique qualities of the Indonesian high grade (greater than 50%) low impurity manganese ore.
Gulf Manganese Corporation Limited
ASX:GMC ISIN:AU000000GLM2
News
Gulf Manganese Corporation Limited (ASX:GMC) (FRA:GU6A) is pleased to advise that it has signed an offtake agreement with Renova Group for the sale of up to 60% of manganese alloy produced from the Kupang Smelting Hub during the first three years of production.
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