Titanium Sands takes big leap toward titanium | Australian Markets

Titanium Sands Limited has cleared one other big hurdle in its quest to carry its huge Mannar Island heavy mineral sands project in Sri Lanka into manufacturing after the nation’s environmental authority issued phrases for the company’s pivotal environmental impression evaluation (EIA).

The milestone units the stage for the ultimate environmental research required for Titanium Sands to secure an industrial mining licence from Sri Lanka’s mines bureau, which might carry the company nearer to unlocking the financial potential of its high-grade mineral sands deposit.

Titanium Sands says the release of phrases is a important step ahead within the regulatory approvals course of for Mannar Island, which is forecast to ship high-grade mineral sands – specifically titanium – that can considerably increase Sri Lanka authorities revenues by about $2 billion.

The company carried out intensive stakeholder engagement forward of the release, together with a scoping presentation final 12 months, a web site go to in February and it obtained enter from 35 Sri Lankan authorities departments and regulatory our bodies. The phrases doc outlines a complete framework for the EIA, protecting environmental results, wildlife issues and neighborhood session, alongside the development of an environmental management plan.

The company is now working with consultants to focus on a mid-2025 EIA submission that can pave the way in which for the bureau to greenlight the all-important industrial mining licence.

Titanium Sands is focussed on delivering a low impression environmentally pleasant project, with the best ranges of social awareness and inclusion. As heavy minerals have been mined for many years on the Sri Lankan mainland, TSL appears to be like ahead to building on the dimensions and high quality of the industry and making a important impression to the financial advantages of Sri Lanka.

The Mannar Island project has 318 million tonnes of mineral sources grading 4.17 per cent complete heavy minerals, which included an 82mt high-grade zone at 6.03 per cent complete heavy minerals. The project has been scoped to ship a stage one web current worth of $545 million and complete gross income of $2b.

The operation’s pre-production capital expenditure is pegged at simply $122m. It is poised to supply up to 150,000 tonnes of heavy minerals yearly, whereas immediately using up to 600 people and supporting an extra 1200 jobs by an progressive mine rehabilitation program.

The phrases mandate a thorough EIA course of, with neighborhood engagement at its coronary heart. Titanium Sands says it plans to seek the advice of Mannar Island residents to deal with native considerations to make sure the project aligns with the area’s cultural heritage and environmental priorities.

The company’s imaginative and prescient extends past mining. Titanium Sands has plans in place to rehabilitate mined areas into sustainable plantation agriculture and natural vegetation zones, owned and operated by native communities.

With the EIA now in movement and authorities help for the project building, Titanium Sands is steadily advancing its appreciable Mannar Island dream into actuality. After a long period of painstaking regulatory hurdles, the company appears prepared to leap into motion, concentrating on a mid-2025 licensing software, forward of a pivotal mining licence resolution to affix the ilmenite producer ranks.

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