Gulf unveils plans for $36m alloy smelter facility in Indonesia
PERTH (miningweekly.com) – ASX-listed junior Gulf Minerals on Thursday unveiled plans to develop an alloy smelter facility in Indonesia with the aim of being a major ferromanganese producer by 2018.
The company was proposing to build eight furnaces over a three-year period, starting in 2015, for a total capital investment of about $36-million, which would be partly funded through a $25-million initial public offering on the Singapore Stock Exchange in the second half of the year.
Each of the furnaces would have a capacity of 20 000 t/y alloy production, with the first two furnaces expected to be operational by January 2016, and a further four to follow a year later. The final two furnaces would be commissioned in January 2018.
Gulf Minerals stated that ore would be sourced through long-term supply contracts with local and overseas ore producers, adding that discussions were already under way to finalise contracts, with 75% of ore requirements coming from the local market and the remaining 25% from overseas suppliers.
In 2016, the project was expected to require 90 000 t of ore, increasing to 270 000 t during 2017 and finally to 360 000 t in 2018, when all eight furnaces went into production.
Electricity requirements for the smelting facility would be supplied by a third party on a user-pay basis.
Gulf Minerals told its shareholders that the directors and senior management of the company had several years of global manganese marketing experience, and had a significant marketing knowledge base and network to assist in selling the ferromanganese produced at the Indonesian plant.
Gulf also owns copper tenements in the Northern Territory of Australia with two joint ventures, one with Redbank Copper and the other with the Canadian uranium group Laramide Resources.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
