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The fresh IPO harnessing Brazil’s titanium potential

A new rare earths player has joined the ASX’s ranks in the form of Resouro Strategic Metals, which listed on the market earlier this month. Pic via Getty Images

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  • Resouro listed on the ASX on June 14 with plans to chase rare earths and titanium in Brazil
  • The company’s focus is the flagship Tiros project, which spans 450sq km
  • Resouro management looks to release a maiden resource estimate this year

 

Special Report: Looking to stand out from the crowd of Brazil-focused, ASX critical mineral plays is newly listed Resouro Strategic Metals (ASX:RAU).

Brazil-focused rare earths plays have been running hot on the ASX this year. There’s been Brazilian Rare Earths (ASX:BRE), Meteoric Resources (ASX: MEI), Alvo Minerals (ASX:ALV), and Equinox Resources (ASX:EQN). AXEL REE (ASX:AXL) hopes to capitalise on this ground swell of interest in South American critical minerals by joining the bourse in coming days.

Looking to stand out from the crowd with its Tiros Rare Earth Elements and Titanium project is newly listed Resouro Strategic Metals (ASX:RAU).

While part of the Brazilian rare earths trend, Resouro’s Tiros is also one of the world’s largest undeveloped titanium oxide projects – and that’s a big deal.

The global titanium dioxide (TiO2) Market was valued at almost $22 billion in 2023 and is forecast to grow at 5.7% from 2024 through 2030, according to ReAnIn’s Global Titanium Dioxide (TiO2) Market report released late last month.

Less well known than the market value of TiO2 – even though it’s used in a shopping list of everyday products – is the fun fact that there’s rutile TiO2 and anatase TiO2. Rutile TiO2 is deep red, while anatase TiO2 is yellow to blue.

But, despite their original colours, both are used in the white pigmentation of paints, paper and ceramics, as well as high-tech applications including aerospace, biomedicine and chemical engineering.

The growth profile for both varieties is also similar, with much of the increasing appetite coming from the growing middle classes in emerging economies. At the same time, ongoing advances in industrial-scale 3D printing of titanium components are boosting the appeal of TiO2 in advanced manufacturing.

Source: ReAnIn, Global Titanium Dioxide (TiO2) Market, 2020

As well as being large scale at a whopping 450sqkm, Resouro’s Tiros project has been returning consistently high grades from very close to surface.

Some of the standout results from the latest drilling are 13 meters at 16.11% TiO2 from 44 meters and 20 metres at 16.73% titanium oxide (TiO2) from only 19 meters.

In an almost one-to-one grade match, those intercepts yielded 5,512ppm Total Rare Earth Oxides (TREO), including 1,158ppm high-value magnet metals Neodymium and Praseodymium (NdPr), and 6,789ppm TREO with 1,570ppm NdPr respectively.

Those infill results back up other recent batches of high-grade rare earths and TiO2 results from Tiros, including world-class assays from step-out drilling beyond the Central Block where the company is doing its resource definition work.

“The excellent assays indicate a relatively homogenous ore body of shallow and high-grade TREO and TiO2 figures,” Resouro president Chris Eager said.

“The drilling also further confirms the high grade and massive size potential of the Tiros project as a whole.

“Following our successful IPO on the ASX, we’re now focused on progressing the geological resource model with the aim of achieving a Maiden JORC Resource for Tiros Central later this year.”

 

 

This article was developed in collaboration with Resouro Strategic 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.

Categories: Mining

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