Gulf secures $20M smelter deal

GULF Minerals has entered into a term sheet agreement worth $US20 million ($A26.2 million) with Sigur Holdings to fund the first stage of development at its Indonesian manganese smelter.

Gulf secures $20M smelter deal Gulf secures $20M smelter deal Gulf secures $20M smelter deal Gulf secures $20M smelter deal Gulf secures $20M smelter deal

Gulf Minerals has secured funding to develop the first stage of its smelter facility in Indonesia.

The term sheet encompasses a committed equity agreement which would provide funding by way of a 10% annual interest credit facility loan and preferred shares.