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MEI Online: Plant Operation News: Africa: August 1st 2003


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:: Ticor Runs its Ruler Over Madagascan Deposit

Melbourne-based mineral sands miner Ticor is running its ruler over tenements in Madagascar held by Madagascar Resources with a view to potentially expanding its smelting operations at Richards Bay in South Africa.

Ticor said the memorandum of understanding with Madagascar Resources establishes the base parameters around which a formal agreement will be negotiated, and provides an option for it to purchase all the shares of Madagascar Resources at the completion of a bankable feasibility study.

"The indications from preliminary exploration carried out by Madagascar Resources are that the size and quality of this project has the potential to allow an expansion of Ticor South Africa's smelting operations in Richards Bay," Ticor managing director Rod Ruston said in a statement.

Ticor, majority owned by Kumba, is ramping up the first arc furnace at its Richards Bay operations and has 95% completed construction of the second. Plans are in place for another two furnaces, depending on market conditions.




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