Mineral Commodities
Edison | Feb 05, 2016 06:41AM ET
December quarter – in transition, uplift in
Mineral Commodities (AX:MRC) operates the Tormin mineral sands project in South Africa. This is differentiated by the high grades and profitability relative to its peers, even during the current period of subdued mineral sands prices. Technical enhancements are forecast to lift earnings. Exploration offers the potential for a larger and longer life operation.
December quarter below budget due to GSP delay
The commissioning of the Tailings Scavenger Plant (TSP) in mid-October led to an increase in heavy mineral concentrate (HMC) to the Secondary Concentrator Plant (SCP). However, Tormin production in the December quarter was below the original processing budget. This was based on completing the Garnet Stripping Plant (GSP) in the September quarter, designed to increase the hourly throughput by around 25%. Commissioning of the GSP is now deferred until early July 2016.
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