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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