Timor Smelter Study indicates strong returns
By Rachel Dally-Watkins 19 June, 2015 PERTH-based Gulf Manganese Corporation (formally Gulf Minerals Corporation) has outlined details of its plans to become an Association of Southeast Asian Nations (ASEAN) focused manganese ore and alloy producer, following the completion of its Timor Smelter Study. The study showed the company’s project could return an EDITDA of US$623.8 million across 20 years, supporting an estimated net present value of US $201.4 million. Gulf Manganese planned to develop smelter facilities in the West Timor capital Kupang to take advantage of low cost ore, labour and power. It would produce and sell a 78 per cent ferromanganese alloy from Indonesian high-grade, low impurity ore, at an operating costs expected to be 80 per cent of…