Graphite Reserves Registered At 4.24 MT
Mineral Commodities Ltd (ASX: MRC) has reported a significant jump in its annual Mineral Resource and Ore Reserve estimates as of December 31, 2020.
The company unveiled a significant increase in Heavy Mineral Sands Resource tonnes and in situ Heavy Minerals, with, total Group Mineral Resources of Heavy Mineral Sands contained a combined estimate of 456 million tonnes at 6.8% Total Heavy Minerals (THM), containing 31.5 million tonnes of in situ Heavy Mineral.
The Mineral Resource for the Northern Beaches increased to thrree million tonnes at 23.2% Total Heavy Minerals (THM), while Tormin Beaches Mineral Resource was reported as 1.13 million tonnes at 13.7% THM.
Meanwhile, the company’s Australian and Norwegian graphite operations recorded a Total Group Ore Reserve of 4.24 million tonnes at 12.8% Total Graphitic Carbon (TGC) and total Group Mineral Resources of graphite contained 9.75 million tonnes at 14% TGC, containing 1.36 million tonnes of graphite.
Chief Executive Officer, Mark Caruso, said the company’s 2020 Mineral Resource Statement demonstrates the quality of these world class assets in prime operating locations.
“We are confident that the stated resources and planned exploration will not only increase resources in 2021 but underpin MRC’s long-term operations into the future.”
Mineral Commodities Ltd (ASX: MRC) is a global mining and development company with a primary focus on the development of high-grade mineral deposits within the mineral sands and battery minerals sectors.
The Company is a leading producer of zircon, rutile, garnet and ilmenite concentrates through its Tormin Mineral Sands Operation, located on the Western Cape of South Africa.
In October 2019, the company completed the acquisition of Skaland Graphite AS, the owner of the world’s highest-grade operating flake graphite mine and one of the only producers in Europe.
The planned development of the Munglinup Graphite Project, located in Western Australia, builds on the Skaland acquisition and is a further step toward an integrated, downstream value- adding strategy which aims to capitalise on the fast-growing demand for sustainably manufactured Lithium-Ion Batteries.
