It's a Mineral sand deposit.
Australia Mineral sands is where much of our mining is focused for Titanium Dioxide.
"
Australia is the world’s leading supplier of mineral sands (ilmenite, rutile and zircon).
Mineral sands production in Western Australia predominantly comprises titanium minerals such as ilmenite, leucoxene, synthetic rutile and rutile. Other products such as garnet sand, zircon and staurolite are also produced on a smaller scale.In 2016-17, Western Australia’s mineral sands sector sold almost 1.4 million tonnes of material valued at around $554 million.Mineral sands production in Western Australia is dominated by two producers, Iluka Resources and Tronox Management, who produce the majority of the state’s titanium minerals. GMA Garnet is another major producer, and currently the state’s sole producer of industrial garnet sand."
This, to me, is looking at other prospective clients which could use TIVAN as a bolt on to existing facilities.
There are some major players in this field including RIO -
"Our Richards Bay Minerals operation is a world leader in heavy mineral sands extraction and refining and is South Africa’s largest mineral sands producer"
Mineral Sands Explained The mineral sands industry is orientated towards the supply of two main raw products, zircon and titanium dioxide ores. The term ‘mineral sands’ refers to concentrations of minerals commonly found in sand deposits.
The global TiO2 pigment market accounts for approximately 90% of all titanium feedstock demand, and therefore is the dominant driver of offtake. For zircon, ceramic applications are the dominant end-use application, accounting for approximately 50% of global zircon demand.
Their target is TIVAN production facilities - magnetite resources which is where the focus for Iron Ore supply is gradually shifting.
Vanadium due to the demand from Steel manufacturers & also the myriad of other uses being discovered & commercialized for this element.
Titanium to maintain existing world supply & allow for growth (3D printing) - ie. Largo has 8 years of resources left for the
Campbell pit.
Although TNG may prefer (IMHO) to have a major resource partner to support the financing, engineering, construction, commissioning & operation of Mt Peake & the Darwin Refinery which effectively are 'guaranteed to produce' (by SMS) pilot facilities for TIVAN, utilising a different feed stock, vertically integrated into the parent company, with enormous upside for TIVAN when demonstrated to work, is pretty smart IMO.
And when existing resource companies with both Magnetite deposits & mineral sands deposits, see the TIVAN facility performing & the increased returns from 3 value add outputs, I'd suggest they'll be knocking on TNG's door to build them a bolt on processing plant.
