Direct Shipped Ore Sales Permit will CATAPULT Shareprice., page-89

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HarleyRider

158 Posts.

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09/11/17

02:58

Post #: 28625955
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Originally posted by rocket973 ↑

DSO manganese ore from Indonesia. Why does everybody think that GMC will make money shipping manganese ore from Indonesia. Does anybody have a clue as to how manganese is mined in Indonesia. Remember GMC doesn't own any manganese mines or manganese projects and will depend on the local miners. This is how its done in Indonesia.

"ready for packing to sell."

"Mining practices are relatively low-tech: the ore is dug out from the ground using hand tools, or simply picked up from the surface, scraped, washed clean and packed into bags to sell to visiting traders"

"The small size and unpredictability of manganese ore deposits in West Timor means that mining is economically risky for larger-scale operations, but ideal for small-scale mining. "
"Because the price of manganese is low, hard work is required to generate substantial income, and benefits are fairly evenly spread throughout a community. Income from mining can be used to invest into farming livelihoods, by purchasing livestock, seeds and arable land. Other common uses of income from mining include supporting children’s education, improvements to houses and the purchase of motorbikes."
"money from manganese is often referred to as ‘hot money’, disappearing as quickly as it arrives. Some miners have been able to save money from manganese. One elderly farmer described how he saved the money from mining and bought fifty chickens which he breeds and sells every three months providing the income he needs to supplement his other farming activities."

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Kabupaten Kupang had a moratorium on manganese mining due to the number of deaths which have occurred while mining.

GMC Price at posting: 2.0¢ Sentiment: None Disclosure: Not Held
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