Ann: FY21 Full Year Results, page-9

From the report....

The Toliara Project in Madagascar continues to represent a significant and attractive growth opportunity for the
Company with the 2019 definitive feasibility study reinforcing our view that the Toliara Project is one of the best undeveloped mineral sands assets in the world. We have made progress in our discussions with the Government of Madagascar in relation to the fiscal terms applicable to the project and the lifting of the on-theground suspension. We remain confident that acceptable terms should be able to be secured and, on this basis,
the Company remains committed to development of the Toliara Project.