Oct 27, 2017

Melior looks to restart ilmenite mine

Melior looks to restart ilmenite mine

Melior Resources says it plans to restart operations at its Goondicum ilmenite mine near Monto and has an agreement in principle with Pala Investments for provision of a US$5.25 million loan facility.

With this commitment from Pala in place, Melior said it would look to secure the remaining US$5 million required to commence the restart of the Goondicum ilmenite mine as quickly as possible.

The company said its decision to restart operations at Goondicum was based on a number of factors, including strong project economics, recovery of ilmenite prices and a positive outlook for the sector given expected GDP economic growth in China and the likely constraints in additional supply for the foreseeable future.

 

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