Gulf Minerals Plans Indonesian Alloy Smelter Facility

Mining Weekly reported yesterday that Gulf Minerals Corporation Ltd. (ASX:GLM) plans to develop an Indonesia-based alloy smelter facility. Its goal is to become a major ferromanganese producer by 2018.

As quoted in the market news:

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.

Click here to read the full Mining Weekly report.