Gulf Manganese Signs an Agreement with PT Arfa

  • Oct 24, 2019 AEDT
  • Team Kalkine

Gulf Manganese Corporation Limited (ASX: GMC) announced that its Indonesian subsidiary, PT Gulf Mangan Grup, has signed an ore purchase agreement with Sulawesi-based PT Arfa Indo Sarana for the supply of an initial 100 tonne parcel of high-grade (+49%) manganese ore. A MoU has been executed between the two parties for the ongoing supply of high-grade manganese ore.

  • Initial 100 tonne parcel of high-grade manganese concentrate remains on track to be shipped from Sulawesi to Kupang in November for export;
  • 17 IUP’s (permit to conduct a mining business) has been approved by the NTT ESDM, allowing local miners to recommence manganese production.

At AEST 1:16 PM, the stock was trading at $0.007 per share, no change from its previous close.


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