ASX-listed mining company Strandline Resources has completed the second shipment of Heavy Mineral Concentrate (HMC) from its 100%-owned Coburn mineral sands project in Western Australia.
The company loaded 8,600 wet metric tonnes of HMC product, comprising valuable minerals of zircon sand, titanium ores and rare earth monazite, at the Port of Geraldton.
The value of the shipment is ~A$8 million CIF, with sales proceeds expected to be received within seven days.
In addition to this export, Strandline has produced additional HMC volumes, which are being stored for future sales as well as feed for the Mineral Separation Plant (MSP).
Selling this second batch of HMC from the Wet Concentration Plant (WCP) is in line with Strandline’s rapid cash flow and ramp-up strategy and gives the company a solid operational foundation to move into ore commissioning of the downstream MSP.
Moving forward, the company said it plans to progressively introduce HMC product into the MSP in February 2023 with ramping up production rates and improving plant and equipment availability as key priorities.
Strandline Managing Director Luke Graham said the second shipment was a reflection of the “strong progress” the company had made on the project.
“The transition to MSP ramp-up and production of Coburn’s final product streams over the coming months will mark Strandline’s arrival as a world-scale, long-life producer of critical minerals, with some outstanding growth prospects, including the potential expansion opportunities at Coburn,” the company official explained.
Strandline continues to focus on managing the different risks involved in the project’s development including HSEC hazards, inclement weather, contractor performance, technical ramp-up and commissioning risks, commodity price and foreign exchange rate volatility, cost inflation, and contractual claims and disputes.
