Thursday, July 19th, 2012
Bracken International Mining is pleased to announce the Company has signed a contract with Sanit Trading of Qingdoa China to supply $260 million worth of manganese ore from its Big George West Timor Mine in Indonesia.

Sanit will purchase 30,000t per month of manganese which will be exported through the nearby Kupang Port. First delivery is due in late November 2012.

The sale was completed following the signing of a letter of intent in May. A second letter of intent was also signed with Shandong Coking Coal and a contract is expected to be signed soon.

The Sanit sale confirms Bracken International Mining will be in a cash positive position in the final quarter of this calendar year. The company will also be able to fast track the development of its employment training and health facilities in Kupang, West Timor.

Bracken International Mining is committed to maximising opportunities and benefits for the community at Kupang near the Big George Mine and has been engaging with local organisations and building partnerships where it’s expertise can be beneficial. Bracken International Mining is committed to raising education levels, improving biodiversity, land management and the ecology of the local environment.

Production from the Big George mine is scheduled to begin in the third quarter 2012 following the arrival of a new ship loader to the Kupang Port.

Staff and equipment have already been mobilised to the mine site and SGS will conduct independent quality control on the manganese ore at a new laboratory to be located near the Kupang Port.

International logistics specialist Qingdao Newsky Energy Investments Co Ltd will manage imports.

Development of the manganese smelter at Kupang is on track for construction to begin mid 2013 and Bracken International Mining is engaged in negotiations with construction companies for design and build.

Executive Chairman Luke Bracken commented:
“Bracken International Mining is breaking into the Chinese market as China continues to grow into a world dominating force," Mr Bracken said.

"Sanit Trading is a major iron ore buyer and manganese is essential to iron and steel production.

"Most of the demand for manganese comes from steelmaking, and ironmaking, accounting for up to 90% of today’s global demand."

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Bracken International Mining

Bracken International Mining listed on the Deutsche Börse’s Frankfurt Stock Exchange (code: 1BM) in October 2011. The Company has six mine licenses covering 8,208.6 hectares in West Timor, Indonesia, with combined reserves of more than 300 million tones.

The company has all mining approvals and full Government and community support. The Big George West Timor Mine is conveniently located just 35km from Kupang’s main export loading port and is strategically located to take full advantage of China’s growing demand for steel, of which manganese is an essential component.

Tests have confirmed the average manganese content is between 50% and 68%.
The Company also has a licence to build a refinement smelter, which will produce silicon and ferrous manganese end use products.

The West Timor mines have been producing ore in a limited capacity since early 2010, with trial exports of manganese shipped to customers in China. Bracken International Mining anticipates production of 250MT per month.

The company also has tungsten mining rights in Far North Queensland.
Luke Bracken
P: 61 422811261


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