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Titanium Corporation announces 2006 development program
Titanium Corporation announces 2006 development program.
About this update from Cvw Sustainable Royalties Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, April 26 /CNW/ - Titanium Corporation Inc. (TSX-V:TIC) is\npleased to announce its 2006 program with a focus on the production of zircon\nin the first phase of commercial development. In light of the strength of\nzircon markets and the opportunity this represents, the Company is evaluating\nentering the zircon markets sooner, thereby reducing development costs and\nproviding earlier cash flow. In this regard, Titanium Corporation plans to\ninitially conduct an on-site 2006 pilot program involving a mineral\nconcentrator facility designed to assess the recovery of heavy minerals from\nthe oil sands tailings pipeline along with the recovery of hydrocarbons\nassociated with the minerals recovery process. The mineral concentrator\nfacility will be constructed in Australia and shipped to Fort McMurray,\nAlberta, for commissioning during the Summer of 2006. In addition, the\nCompany's existing Bulk Sampling facility, which operated on-site in 2005,\nwill be an integral part of this program. Inclusive of operating costs, the\npilot program is expected to cost approximately CAD $3 million.\nSubsequently, Titanium Corporation intends to commence the first phase of\ncommercial development, focusing on the production of zircon. This decision\nwas made after continual evaluation of heavy minerals markets and development\noptions. The commercial zircon facility would be constructed in place of the\npreviously planned Phase 1 demonstration plant.\nGlobal demand for zircon continues to outpace supply, driven by new\ndemand from China and other Asian countries, particularly in the ceramics\nindustry. In contrast, the market for titanium chloride feedstock (the raw\nmaterial to produce titanium dioxide \"TiO2\" pigment) is currently in balance.\nPricing for chloride feedstock remains static and this market is likely to\nbecome increasingly competitive in the near term due to recently announced new\nprojects. Therefore, Titanium Corporation is examining other uses for its\ntitanium-bearing minerals and the appropriate timing of market entry. This\nremoves the need to generate large industrial-sized titanium mineral samples -\nthe primary reason for the demonstration plant.\nTitanium Corporation Inc. will host a conference call about these\nannouncements at 9 am Toronto/New York time (EDT) on Thursday April 27, 2006.\nThe toll-f...