Gulf Manganese Provides Update on Smelter Land and Power Supply

Gulf Manganese Corporation Limited (ASX:GMC) announced that the Company’s proposed 53 hectare block of land, in the industrial area of the Kupang Regency, West Timor, has been officially measured and issued with a Field Map reference catalogue number as the first step to receiving a Certificate of Title for Building Construction (Hak Guna Bangunan –HGB) from the Indonesian National Land Agency (BPN).
As quoted in the press release:

The issuing of a Certificate of Title will ensure security of tenure for PT Gulf Mangan Grup’s Land Lease Agreement for the duration of its 50 year lease period from the local land owners and authorises construction of the Timor Smelter.
Gulf is also pleased to advise shareholders that at a recent meeting with the Indonesian Government power company, PT PLN (Persero), it was confirmed that PLN will supply, on a user pay basis from mid 2016, 7 mega watts of power for the Company’s first furnace, which is due to come online the 4th quarter 2016. PLN will commission 2 new 16.5 mega watt power stations early next year with a further 60 mega watt power supply coming online during the second half of 2016.

Gulf Manganese Technical Director, Kevin Parker, said:

The issuing of a Field Map reference number and the confirmation from PLN of power supply, together with the recently issued Principle Licence, firmly establishes that the Company is on track to start building and operating next year. These three areas significantly de-risk the project and with several Regency permits and licences now required we are ready to move forward.

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