Australia’s Mineral Deposits Ltd (MDL) plans to form a joint venture with French metal alloys group Eramet to develop its Grande Cote mineral sands project in north-west Senegal.
The two groups have signed a memorandum of understanding on establishing a 50-50% venture to operate the west Africa mine, which is expected start up in late 2013.
The deal could provide Eramet’s Tyssedal titanium slag plant in Norway with a reliable source of feedstock, while MDL’s Grande Cote project would secure the sale of most of its ilmenite production.
Under a binding...