Business
Analysis of Pituffik concentrate and sale markets
Analysis of Pituffik concentrate and sale markets.
About this update from 80 Mile Plc
[{"type":"text","content":"\n \nRNS Number : 5171Y FinnAust Mining PLC 18 May 2016 \n\n \nClick on or paste the following link into your web browser to view the full PDF:\nhttp://www.rns-pdf.londonstockexchange.com/rns/5171Y_-2016-5-17.pdf\n \n \nFinnAust Mining plc / EPIC: FAM / Market: AIM / Sector: Mining\n18 May 2016\nFinnAust Mining plc ('FinnAust' or the 'Company')\nInitial chemical analysis of Pituffik concentrate received as well as identification of two prospective end-sale markets for the Pituffik Titanium Project\n \nFinnAust Mining plc, the AIM and FSE listed company with projects in Greenland, Finland and Austria, is pleased to announce the receipt of initial analytical results of the ilmenite separated from the heavy mineral concentrate from the Pituffik Titanium Project in Greenland ('Pittufik' or the 'Project'). The Company is also pleased to announce that market analysis covering all aspects of the titanium sector has been completed by TZ Minerals International Pty Ltd ('TZMI'), which identifies two prospective end-sale markets for product taken from Pituffik.\n \nOverview\n· Initial analytical results indicate that the Ilmenite concentrate from Pituffik in its current non optimised form is well suited for direct use in the sulphate production process of Titanium Dioxide pigment ('TiO2')\no Given the low amount of deleterious elements identified the quality of the final pigment product is expected to be high, the material should be easily soluble in relatively low strength sulphuric acid and could operate at high process efficiency\n \n· This non-optimised ilmenite concentrate from Pituffik (see Figure 1) gives the Company a high degree of confidence that with a very small amount of further purification on larger samples from the main zones at the Project, the concentrate could also be suitable for chloride slag manufacture to produce either TiO2 pigment or titanium metal\n \n· Detailed market analysis from TZMI confirms chloride slag and sulphate routes are both large and growing global markets with potential end-sale customers identified in Europe and Asia\n \n· TZMI have identified increasing ilmenite supply deficits into the medium and longer term, it is these forecast supply gaps that are presenting the Company with an exc...