The market outlook for foundry minerals, such as chromite, has picked up recently, with the latest indications suggesting that – in the short term at least – price increases may be likely. This is thanks to diminishing inventories of old material and a competitive market for sellers (IM 7 January 2010: Non-met chromite prices steady).
The upturn in the foundry market surely comes at no better time for heavy mineral sands developer, Oregon Resources Corp. (ORC), which is in the final stages of pre-production at the Coos Bay speciality sands project in Oregon, USA.
ORC, a wholly owned subsidiary of Australia-based company Industrial Minerals Corp. Ltd, began exploration work on the Coos Bay site in 1989 and recommenced development there in 2004.Coos Bay comprises an extensive heavy mineral sands resource located in ancient, uplifted beach terraces. The mineral resource includes foundry grades of chromite, ilmenite and zircon, while...