Mineral Commodities joins ranks of mineral sands producers at Tormin, South Africa
Mineral Commodities (ASX: MRC) should trade higher after joining the ranks of the world’s
mineral sands producers with the first shipments of ultra-high grade
zircon-rutile concentrate from its recently commissioned US$16 million
Tormin project, 400 kilometres northwest of Cape Town in South Africa.
The
company has this week loaded its first concentrate for shipment to its
offtake partner, Wogen Pacific, and anticipates shipping 1800 tonnes
this month, before ramping up towards 4000 tonnes a month during
February 2014.
As previously reported, commissioning of the beach mining and processing infrastructure commenced in October 2013.
The
1.2 Mtpa processing plant is operating to plan, and grade
reconciliation provides confidence of an annualised production rate of
48,000 tonnes of zircon-rutile concentrate, grading up to 80% zircon and
10% rutile, which at current prices would generate US$40–US$50 million
per annum.
Since commissioning commenced, a 60,000 tonne high
grade heavy mineral stockpile has been created providing a six-week
buffer for the secondary concentrate plant.
Tormin is a high grade deposit, possibly the highest in world.
The run-of-mine grades to date of 86% Heavy Mineral Concentrate are double the resource grade.
This
has allowed MRC to bypass the primary beach concentrator and run it
through spirals and the secondary concentrator, thus plant reducing
costs and risk.
In addition to the zircon-rutile concentrate, the
company has to date produced 9,000 tonnes of Ilmenite concentrate and
12,000 tonnes of Garnet concentrate.
The Ilmenite remains the
subject of ongoing sales off take discussions and is being stockpiled
pending the outcome, while delivery of the Garnet concentrate will
commence in February 2014 under a separate agreement.
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