My understanding is - the Indonesian government does not allow the export of unprocessed Mg and therefore it is essential that GMC is granted the license to set up the processing plant. In what appears to be a finalised agreement to purchase the 2 smelters from South Africa, it may have jumped the gun. On 5 July, GMC stated that it had been advised that it will receive all relevant permitting approvals on or around 26 July.
I cannot find an announcement that the license for the smelter has been finalised/granted.
GMC Price at posting:
1.8¢ Sentiment: None Disclosure: Held