About Gulf Minerals Corporation Limited
Gulf Minerals Corporation Limited is an Australian registered company (ACN 059 954 317) listed on the Australian Securities Exchange (ASX: GMC) with its head office in Perth, Western Australia.
The company, through its fully owned subsidiary International Manganese Group (IMG) is developing an ASEAN focused manganese alloy producer. The facilities based in the West Timor capital Kupang will take advantage of the low cost of ore, labour and power being the majority of operating costs. Production will be a premium quality 78% manganese alloy resulting from the unique qualities of the Indonesian high-grade low impurities manganese ore.
Value adding ores is strongly encouraged by the Indonesian Government to enrich the country's mineral endowment thereby enhancing the economy and creating employment.
All initiatives to value adding have full support from all levels of government and IMG will benefit from the Government's Financial Incentives Programme which effectively will result in a 5 year tax holiday.
Gulf has a major holding in the Indonesian based high grade manganese ore producer Asia Minerals Corporation Limited, a 70% joint venture in a copper exploration tenement in West Timor displaying grab sample grades ranging from 6.43% to 8.71% copper as announced on the ASX 7th March 2014.
The company also owns copper tenements in the Northern Territory of Australia with two joint ventures, one with Redbank Copper Limited (www.redbankcopper.com.au) and the other with the Canadian uranium group Laramide Resources Limited (www.laramide.com) for copper and uranium. Laramide's adjacent Westmoreland uranium deposit has a 51.9 million pound uranium resource (company statements).
It is proposed to undertake an Initial Public Offering later this year of the company's subsidiary International Manganese Group Limited on the Catalist Board of the Singapore Stock Exchange raising AUD$25m. Gulf Minerals will retain a 40% holding in the listed IMG.
Current Mining Projects