The company, which obtained the special permit for industrial development in June 2007 for 20 year told IM that it could start production by Q1 2013 with a targeted 540,000 tpa ilmenite as a source of titanium dioxide (TiO2) feedstock.
TioFab believes that “the project, if successfully implemented, will be the largest mining venture in the history of Ukraine”. The total budget to develop the deposit is estimated at about $773m. According to the financial model, potential revenue for the duration of the license should exceed $5bn until 2028.
“The mining works on Nosachivske can be launched upon availability of necessary financing with the first ilmenite concentrate delivery expected 24 months later,” explained TioFab, which is looking for an international strategic investor for the project.Sulphate route
Nosachivske is a multi-mineral hard rock deposit located in Cherkassy oblast, 45km north-east from Birzulivske. The 1.05km2 deposit...