Gulf Manganese Corporation Limited announced that it has received AUD 0.16 million in funding from Acuity Capital Pty. Ltd.

Gulf Manganese Corporation Limited is an Austrailia-based company that focused on developing a ferromanganese smelting and sales business to produce low carbon ferromanganese alloy in West Timor, Indonesia. The Company purchases Indonesian manganese ore at the smelter gate and provides a route to market for Indonesian miners with a cement manufacturing industry in the province. The Company is progressing with permitting to allow the sale and shipment of manganese concentrates under the Indonesian provision for smelting and processing companies to sell concentrate during construction to assist with cash flow. It is also identifying and building a ferromanganese smelting hub in Timor, near the city of Kupang.