Mineral Commodities (ASX:MRC) uplift a mineral sand mountain

Mineral Commodities have brought in a hefty maiden mineral sands resource from its Du Punt prospecting right and further elevated its Tormin project resources north of Cape Town on the western coast of South Africa.

A 31 per cent rise in total tonnes and 57 per cent uplift of in situ heavy minerals now has the Tormin heavy mineral sands resource at a combined 282.6 million tonnes at 10.9 per cent THM and holding 30.8 million tonnes in situ heavy minerals.

Interim Chief Executive Adam Bick said the high-grade maiden resource allows the company to target extending production another 13 kilometres southbound along the strike of its Inland Strands deposit and expand its existing orebodies.

“This extremely significant Ore Resource upgrade significantly enhances the asset value of our Heavy Minerals division, with significant potential upside given only one of seven exploration targets at De Punt have been drilled,” Mr Bick said.

“The Inland Strands provides flexibility for Tormin to sustainably mine its two producing, replenishable placer beach deposits over the long term and also provides another long-term profitability source in its own right.”

“This should provide renewed excitement for MRC shareholders that the Heavy Minerals division is moving towards its stated goals of increased scale to Tormin.”

Mineral sands

The waves and wind naturally accumulate valuable heavy minerals like Ilmenite, rutile, zircon, leucoxene, monzonite, and rare earth into beach and dune deposits over time and are found relatively common worldwide.

But what makes the Tormin Placer beach deposits unique is the high grades and the rapid rate at mining areas naturally refurbish and actively replenish the mineralisation.

Increasing production

Production of garnet, Ilmenite, zircon and rutile has already begun from Tormin, and increased sales revenue and reduced operating costs through last quarter have the project on track towards historical profitability, with new high resources and heightening grades just the start of MRC’s heavy mineral ambitions.

The five-year MRC strategic plan.

MIN.COMMOD FPO [MRC]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Mineral Commodities Ltd, together with its subsidiaries, operates as a mining and development company with a primary focus on the development of mineral deposits within the industrial and battery minerals sectors. The company operates through Mineral Sands Mining and Production; Mineral Sands Exploration; Graphite Mining and Production; and Exploration Activities segments. It produces mineral sands deposits, such as ilmenite, zircon rutile, and garnet concentrates, as well as magnetite, sapphire, diamond, and staurolite. The company is also involved in the graphite concentrate production. In addition, it holds interests in the Tormin mineral sands project located in the Western Cape Province of South Africa; the Xolobeni Mineral Sands project situated on the Eastern Cape of South Africa; the Skaland graphite operation located in the northern Norway on the island of Senja; and the Munglinup graphite project located in the Great Southern region of Western Australia. The company was incorporated in 1970 and is headquartered in Belmont, Australia.