MZI Resources gains Bunbury port access for Keysbrook mineral sands project
Signing the Port Services Agreement with
the Bunbury Port Authority places MZI Resources another step closer towards
bringing its Keysbrook mineral sands project into production. The company is
now working towards finalising finance arrangements.
Importantly, the seven year contract, which covers the export of both Leucoxene and Zircon, provides sufficient capacity to export all products that will be produced from its Keysbrook mineral sands project.
MZI plans to export Keysbrook’s average annual production of approximately 91,000 tonnes of leucoxene and zircon concentrate products through the port to key Chinese and world markets.
Ticking off the milestones
The company has been progressing development of the Keysbrook project in recent months.
It had in April signed a crucial sales agreement with DuPont Titanium Technologies that covered all of the leucoxene 70% titanium dioxide production and had also reached a mineral sands toll treatment deal with Doral.
The agreement with DuPont Titanium Technologies is for an initial term of five years with options to extend the contract and represents almost 30% of the planned annual production by volume from the project.
Having world’s largest titanium dioxide pigment producer and a blue-chip company as a customer also highlights the value of the Keysbrook Project and its products.
MZI’s agreement with Doral covers the life of the Keysbrook Project and de-risks the secondary processing of its planned products.
With the Port Services Agreement with the Bunbury Port Authority now in place, MZI Resources is well placed to proceed with development of Keysbrook with just financing waiting to be finalised.
This is likely to be achieved soon as the company has already achieved several major milestones while the current slow down in construction activity in WA’s resources sector could result in a more favourable development contract, which in turn will provide greater certainty in respect to development costs and schedules and more desirable security arrangements.
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