Matilda’s first shipment of concentrate
Posted: 20 June 2007
Australia's newest mineral sands producer Matilda Minerals sends its first shipment to China today.
The 7,800 tonnes of zircon and rutile rich concentrate, valued at more than $4 million, represents the first product to be mined on the Tiwi Islands, located 50 kilometres north of Darwin in the Northern Territory.
The inaugural shipment to offtake partner Astron Limited in China leaves from the deep water Port Melville on the Tiwi Islands.
Matilda’s Managing Director Bruce Maluish described the rapid planning to production timeframe of just over two and a half years (from the initial ASX-listing of the company) as a major achievement.
He said the company was extremely pleased to see the first shipment leave the Islands and to have delivered on the strategy and commitments it made at the time of the float.
“For shareholders this is great news with the first revenues being delivered from the project. We are particularly pleased with the recovered quality of the concentrate, which contains more than 50% high value zircon,” he said.
“After continuous production for 8 months over the wet season, production is anticipated to increase this year with the installation of an improved feeder system.”
An additional shipment of 5,000 tonnes of stockpiled concentrate is scheduled for shipment in July and shipments will be undertaken at regular intervals until the end of the dry season.
The company will mine the Tiwi Islands Andranangoo project over the next four years, while continuing its active and expanding exploration program in both Western Australia and its high priority targets on Cape York, northern Queensland.
Posted by Richard Price, Editor, EnergyME.com
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