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Image Resources signs 70,000-tonne mineral sands off-take from Boonanarring

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Image Resources signs 70,000-tonne mineral sands off-take from Boonanarring

Image Resources NL secured sales agreements for all of its current heavy mineral concentrate, or HMC, inventory, including production through May, from its wholly owned Boonanarring mineral sands project in Western Australia.

The company said May 27 it signed sales agreements for 70,000 tonnes of HMC across three bulk shipments with China's Shantou Natfort Zirconium and Titanium Co. Ltd.

A shipment of 20,000 tonnes sailed May 22, a 30,000-tonne shipment is due for loading in mid-June and another 20,000-tonne shipment is expected in the second half of June.

Meanwhile, Image Resources is in talks with another Chinese off-take partner Hainan Wensheng High-Tech Materials Co. Ltd. for a nominal 20,000-tonne shipment for delivery in July.

The company noted that it has received interest from other potential buyers for the product from Boonanarring; however, it needs to expand its export permit authority before sales to any other companies.

Image Resources started ramping up production at Boonanarring in December 2018, targeting to achieve the feasibility study target processing rate of 500 dry tonnes of ore per hour in six months.