Gulf Mines’ (ASX: GLM) associate Asia Minerals Corporation is preparing to ship its first cargo of high grade 52% manganese ore from West Timor during May.
The first shipment will be for 10,000 tonnes of Asia Minerals’ government approved quota of 160,000 tonnes for 2013-14.
Asia Minerals will become the first company to export bulk manganese under new export requirements in West Timor.
The company was granted the first manganese Trading and Exporting Licence under the new requirements following a lengthy and exhaustive government process.
Gulf is acquiring a 19.5% interest in the Indonesian group, which is currently developing a fully integrated manganese operation.
West Timor is among the countries that host the world’s highest commercial grades of up to 56% manganese content.
The acquisition of an interest in Asia Minerals will give Gulf exposure to the highly promising and developing Indonesian manganese industry.
The supply of high grade manganese has fallen in recent times and is expected to lead to strong demand for Asia Minerals’ high grade ore.
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Gulf Mines’ associate to ship first manganese cargo from West Timor
Published: 05:10 17 Apr 2013 BST