I'm sure Peppie will correct me if I get this all wrong.IDM's...

I'm sure Peppie will correct me if I get this all wrong.

IDM's main product is Chromite. Forecast production for 2012 for Chromite is nearly 50,000 ton. The figure for Hi Iron / Ilmenite is 20,000 ton. However, by 2015 the Chromite figure is expected to double to 95,000 ton and the Hi iron / Ilmenite trebles to 67,000 ton.

In terms of revenue Hi Iron / Ilmenite is forecast to produce 15.6% of revenue in 2014.

I don't know what sort of volumes are needed to make an ilmenite to rutile plant economic but QIT Madagascar Minerals, a Rio Tinto Group subsidiary, recently began production at a mineral sands operation in Madagascar and is expected to produce 750,000t per annum of ilmenite, potentially expanding to 2,000,000t per annum in future phases.

Our 67,000 ton of Hi Iron / Ilmenite is pretty small beer in comparison.