Hyperion’s Titan project stands tall with titanium supply MoU
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Hyperion has proved the value of having a rich critical minerals project right in the heart of the US, signing a non-binding agreement to supply titanium feedstocks to Chemours.
Under the memorandum of understanding, the company could supply one of the world’s largest producers of high-quality titanium dioxide products for coatings, plastics, and laminate with up to 50,000 tonnes of ilmenite, 10,000 tonnes of rutile and 10,000 tonnes of staurolite per annum from its Titan project in west Tennessee.
Negotiations for an initial five-year supply agreement on an agreed market-based pricing methodology has begun with Chemours, which operates a pigment plant at New Johnsonville approximately 30km from the Titan project.
Hyperion Metals (ASX:HYM) says the MoU highlights the material logistics advantage that the Titan project – a 11,000 acre mineral project containing titanium, rare earth minerals and zircon – has over critical minerals imported into the US.
This includes the potential for significant reductions in carbon emissions in the mine to market supply chain., with the Titan project being approximately 9,000km to 20,000km closer to Chemours than other major sources of supply, including in Norway and Western Australia.
“We are excited to be working with Chemours, the world’s largest producer of high-quality titanium dioxide products, a vertically integrated company also operating the only major heavy mineral sand mine in the US,” managing director Anastasios Arima said.
“The combination of high-quality critical minerals at the Titan Project and its proximity to Chemours’ New Johnsonville operation, one of the largest pigment plants in the world, provides a compelling opportunity to develop a partnership to grow a low carbon domestic supply chain of critical mineral feedstocks in the US.”
The two companies will work to execute a definitive supply agreement within 18 months from the signing of the MoU.
Titan is located close to the town of Camden, placing it well within reach of low-cost road, rail and water logistics that connect it to world class manufacturing industries and customers.
Its current resource of 431 million tonnes grading 2.2% total heavy minerals, which consists of 11.1% rutile, 9.5% rutile, 40.3% ilmenite, 2.1% rare earth elements and 14.8% staurolite, makes it one of of the largest and most important critical mineral deposits in the US.
The shallow, high grade and unconsolidated nature of the sandy mineralisation enables the potential for simple mining operations such as dozer push followed by an industry standard mineral processing flowsheet.
Recent rare-earth concentrate flotation test work has identified 97% overall recovery of rare earth minerals, which indicates that successful flotation of rare earth minerals could be carried out as a preliminary processing stage providing significant potential benefits to a future mineral separation plant design.
This article was developed in collaboration with Hyperion Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.