Yooni - Just posted below on his twitter feed .
Glass more than half full for VRX Silica
- The West Australian
- 18 Feb 2020
- MEILIN CHEW
A Perth-based company focused on silica sand resources says its Muchea project has the potential to unlock a new long-term industry for WA, with increasing demand for glass in Asia.
Muchea is one of three key silica sand projects in WA owned by ASX-listed VRX Silica, the other two being Arrowsmith North and Arrowsmith Central, 270km north of Perth.
Silica sand is the primary ingredient for glass production and is used to make flat glass for buildings and vehicles.
“The hot prospect at the moment is the glass that goes over solar panels, and solar panels are yet to hit the domestic market in Asia, but it’s not far away,” VRX’s managing director Bruce Maluish said. “Muchea has the quality sand that can make that type of glass, there is only a handful of deposits in the world that can produce that quality sand.”
Mr Maluish, pictured right with chairman Paul Boyatzis, said supplies in Asia were drying up and the company was getting an “enormous amount of interest” for the Muchea sand.
“Supplies are drying up because predominantly production (in China) was from dredging freshwater rivers and lakes and the environmental damage that causes is being realised,” he said.
“Governments are now restricting access for dredging.”
A bankable feasibility study (BFS) released to the market in October anticipated revenue of $3.345 billion for the Muchea project, compared to $2.773 billion for its BFS on the Arrowsmith North project.
The revenue is projected over 25 years but the company said the lifespan of the project would be potentially 100 years.
VRX is one step closer to having a mining lease granted for Muchea after signing a native title agreement with the Whadjuk people at the end of last month.
