Indonesian manganese group Asia Minerals Corporation (AMC) will ship its first load of high grade manganese from West Timor this month, after recently securing Indonesia’s first manganese trading and exporting licence.
West Australian-based Gulf Mines is in the process of acquiring an almost 20% share in AMC and says this first shipment is a significant milestone for the company.
AMC is establishing a fully integrated manganese operation in West Timor, where some of the world’s highest commercial grades of up to 56% manganese have been discovered. Other major global suppliers currently source manganese of between 46-48%. AMC’s 90%-owned Indonesian subsidiary PT Asia Mangan Group completed an exhaustive government process to secure the export licence.
The 10,000 tonne shipment this month will be the first of the 160,000 tonne quota approved by the government for export in 2013/14.
Gulf Mines’ chairman Peter Remta says, “This is a significant step forward for AMC to become the first group to export bulk manganese under the new export requirements. Together with AMC’s current extensive exploration program sets a solid base for future growth in developing a significant manganese operation in West Timor.”
Gulf Mines’ acquisition of AMC will add significant value to its Australian projects which include the Wollogorang Copper Project in the Northern Territory, the Ebagoola Gold Project in Queensland and the Victorian Nowa Nowa Iron Ore Project.
The company is also in the process of acquiring a 70% interest in the Braemore Gold Project which is near Leonora in Western Australia. This project is owned by Tyon and comprises 13 contiguous exploration tenements prospective for large tonnage gold deposits.