In what will come as a major blow to the titanium dioxide (TiO2) pigment sector, but a not entirely unexpected development, BHP Billiton Plc has quit its 800,000 tpa ilmenite project in Mozambique, operated through 100% owned subsidiary, Corridor Sands.
BHP has pulled out five months before the Chibuto heavy sands exploration rights expire; it ceased the pre-feasibility study in March 2009.
BHP told IM: “The study has found inadequate value to justify further development of the project at this point in time.”
Esperanca Bias, Minister of Mineral Resources, declared that Mozambique was “open to negotiations” if a company was interested in the Chibuto project.
The project in Mozambique’s Gaza province, said to be the largest known ilmenite resource, is estimated to contain 100m. tonnes of ilmenite and is considered to have a mine life of over 100 years.
BHP’s plan was to exploit the deposit via an opencast...