Tag: mineral sands

IMAGE Resources' 100pc-owned, high-grade, zircon-rich Boonanarring mineral sands project, 80km north of Perth, exceeded nameplate capacity in the second month of operation in January 2019. The company achieved profitability in Q1 and was cashflow positive in Q2. At Q3, the company had produced 201.4kt heavy mineral concentrate (HMC) for the year, with full-year guidance lifted to 260-280kt HMC, which the company said reflected the “better than expected operation performance”. The company’s ore processing rates had benefited significantly from the installation of a larger trommel at the feed preparation plant in August, which allowed for an 11pc increase in Q3 to hit 874kt. Image Resources managing director, Patrick Mutz, said that the success of the project in its first year of...

Image: Photography: Nathan Sixsmith Photography.   BY EMMA DAVIES   IMAGE Resources’ $235 million Boonanarring mineral sands project is a hive of activity; first shipment of 10,000 tonnes of heavy mineral concentrate (HMC) was achieved in January, with the company now well-placed to capitalise on rising zircon prices. The 100 per cent owned zircon-rich Boonanarring project is considered one of the highest-grade mineral sands projects in Australia. It has been an interesting project to watch over the last few years, in part due to its fast timeline to production brought on by a series of transactions with Murray Zircon in 2016, including the acquisition of key plant infrastructure. In April/May 2018, project funding was finalised and construction began in earnest....

The JV will encompass the company’s southern tenements in Tanzania including Miteja, Kiswere, Sudi and Mtwara. Image: Strandline Resources. BY ELIZABETH FABRI RIO Tinto has entered an earn-in joint venture agreement with ASX-listed Strandline Resources for a majority interest in the company’s mineral sands tenements in southern Tanzania. The terms of the agreement require Rio Tinto to spend $US5 million within three and a half years to earn a 51 per cent participating interest, including a mandatory commitment of $US2 million within 18 months. A second stage payment of $US4 million was also required within two years to earn a 75 per cent interest in the project, plus cash payments totalling $US1.75 million over the course of the agreement. Both...