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INDUSTRIAL MINERALS

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.

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

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. Under the terms, Sigur will immediately...

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