Gulf shareholders smile as supply chain links
PERTH (miningweekly.com) – ASX-listed Gulf Manganese on Thursday saw a 20% increase in its share price after the acquisition of its first high-grade manganese mine in Timor, and securing direct shipping ore (DSO) for export from Indonesia.
The company has told shareholders that it had vended the Putra Indonesia Jaya (PIJ) high-grade manganese mine to its key Indonesian and Singaporean partners.
PIJ is expected to start ore supply to Gulf’s operations in Kupang from September, and output is expected to increase to around 2 000 t/m by the first quarter of 2020.
In addition, Gulf has also announced that first DSO exports from Sumbawa were expected at Kupang before the end of the quarter.
Gulf in May this year received approval from the Indonesian Ministry of Energy and Mineral Resources (EDSM) to export 103 162 t/y of DSO.
Gulf on Thursday said that some 22 mines have responded to the grant of the DSO export permit, by starting the process to restart mining operations. The mines were forced to close under the Indonesian government’s 2013 policy that banned the export of untreated ore.
Of these 22 mines, 13 have already been approved by the EDSM, with a further nine still in the process.
Gulf was expecting monthly DSO shipments to start at a rate of 1 000 t a month and ramp-up to 10 000 t a month by the first quarter of 2020. The ramp-up in operations will be supported by the supply of additional ore from the PIJ mine, Gulf MD Hamish Bohannan said.
“Over recent months, our team has worked tirelessly to underpin our ore supply chain and we are delighted to see this work coming to fruition with the successful acquisition through our business partners of our first high-grade manganese mine in Timor.
“The bolstering of our supply chain has been a key focus as we push towards commercial start-up of our DSO processing operations, with first ore from Sumbawa expected to be transported to Kupang for processing later this month, and the first DSO shipment scheduled for this quarter.”
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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