GMC 0.00% 0.6¢ gulf manganese corporation limited

Direct Shipped Ore Sales Permit will CATAPULT Shareprice., page-42

  1. 4,695 Posts.
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    Just sold the last few that I bought at .005. Pity I didn't get 2.3c, wasn't watching at the time.
    Manganese mining does nobody any favors is Indonesia, the locals just get worked harder for less money. The only people who benefit are the bosses, one of the reasons that I wouldn't be holdings as a long term investor in GMC. Just a quick punt, in and out as I'm guessing most traders are doing at present.

    Do you want to be part of this??

    "At the mine site itself, the conditions endured by workers are of equal concern. Dozens of labourers work separating the manganese from waste rocks for nine hours a day. Maria, one of the workers, starts at 7am, has an hour break for lunch at midday, and finishes work at 5pm. She squats in the heat with no shade, gathering manganese by hand for processing and is paid Rp. 27,500 per day (A$3). She must provide her own lunch and her own transport which costs Rp.15,000 per day (A$1.70). Maria works 6 days a week and is not paid if she does not work. The only health and safety equipment the company supplies are disposable gloves and mask, which are replaced only twice a month."

    Most is illegal mining
    " The company was accused of conducting open pit mining in the Nggalak Rego forest without permission from the Minister for Forestry."
 
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Currently unlisted public company.

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